Romgaz recorded 13.1 % lower profit in Q1 – Romania, 13 May 2016

Romanian state-owned natural gas producer Romgaz recorded a net profit of 108.8 million euros in the first quarter of 2016, which is 13.1 % lower than in the same period in 2015. At the same time, the company’s turnover reached 302.7 million euros, approximately at the same level as a year before.
Due to the decrease of natural gas demand, Romgaz’ net profit and EBITDA (earnings before interest, taxes, depreciation and amortization) are lower compared to the first quarter of 2015. But the ratios of these indicators to the revenues do not report significant decrease and are extremely favorable (35.9 % and 53 % compared to 41.2 % and 61.7 % in the first three months of 2015).

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