Transgaz profit down by 12 percent in H1 to RON 281.7 mln over higher expenses

Newsroom 16/08/2016 | 13:57

The net profit of Transgaz, the natural gas transport operator, dropped by 12.3 percent in the first semester of the year compared with the same period of 2015, to RON 281.77 million, as a result of the 19 percent growth of exploitation expenses.

The expenses are caused mainly because of the 2.5 fold increase of its own technological consumption expenses and the technological losses from the transport network, but also the creation of a provision of RON 25 million for the supplementary fiscal obligations to the the National Tax Authority (ANAF) that Transgaz rejects.

The total natural gas quantity transported through the Transgaz pipes was 5.87 billion cubic meters in the first half of the year, which is 0.55 billion cubic meters lower than the planned quantity.

The other revenues from exploitation  recorded a  sharp increase from RON 1.4 million in the first semester of 2015 to RON 53.11 million in the first six months of 2016.

The Transgaz exploitation expenses grew by over 19 percent to RON 567.373 million.  The biggest increases were in its own technological consumption, the technological losses from the transport network and the materials and consumables. This was due to the quantitative increase of three times in the technological consumption of Transgaz in the first semester, to 65,375 million cubic meters.

The total revenues of Transgaz grew by 4.05 percent in the first six months of the year to RON 926,151 million.

Georgiana Bendre

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