Trangaz net profit loses 27 percent to EUR 63 mln in 2012 on lower gas transport

The unaudited net profit of Transgaz, the state-owned gas transport company, fell by 27 percent to RON 281 million, while the turnover lost 0.7 percent to RON 1.3 billion (EUR 291 million).

The decreased profit was due to a reduction of 547 million cubic meters in transported gas and delayed customer payments.

Revenues lost 2.5 percent to RON 1.42 billion (EUR 318 million) and expenses added 3 percent to RON 1 billion (EUR 224 million), because of additional provisioning for employees’ benefits, auxiliary expenses and amortization.

Transgaz shares lost 0.39 percent to RON 205 on late Wednesday trading on the Bucharest Stock Exchange (BSE).

Ovidiu Posirca

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