Romgaz Profit Rises Despite Revenue Decline on Strong Margins

Romgaz, a Romanian gas producer, reported a 3.4% increase in its first-half net profit to RON 1.74 billion ($374 million) despite a 9% decline in revenue due to lower gas sales and regulated pricing.

The company attributed the higher profitability to cost control, storage income, and a favorable tax mix, with EBITDA margin staying above 53%, EBIT margin above 46%, and net profit margin above 44%.

Romgaz also highlighted its progress in Neptun Deep project, with the offshore platform installed in July and first gas still targeted for 2027 within the €4 billion investment guidance.

Chief Executive Răzvan Popescu said that Romgaz is managing mature-field decline better than expected, with natural gas production exceeding budget by almost 1% in H1 2026.