Romgaz Profit Surges Amid Lower Taxation and Price Capping Effects

Romgaz, Romania's largest natural gas producer, reported its net profit rose 4.7% y/y to RON 762.7 million (EUR 145 million) in Q2, while turnover fell 6.6% to RON 1.75 billion.

The decline in operating profit was partly offset by a 75.9% reduction in profit tax during the quarter.

Gas deliveries in Q2 were 10.2% lower than in Q1, while gas sales turnover fell 17.5% to RON 1.51 billion.

In the entire H1, Romgaz reported consolidated net profit of RON 1.74 billion (EUR 332 million), up 3.4% y/y, despite an 8.6% decline in turnover to RON 3.88 billion.