„The rating affirmation reflects Transgaz’s solid business profile as the concessionaire and operator of the gas transport network in Romania, which we perceive as broadly unchanged following the recent inclusion of Moldova’s gas TSO operations, as well as our expectation of regulatory continuity into the new five-year regulatory period (RP5), whose start has been postponed by one year to October 2025,” states the report.
The company ended 2023 with net profit of RON172.4 million, at a group level, down 50% vs 2022. Individually, net profit reached RON160 million.
Operating revenue before the balancing and construction activity, according to IFRIC12, reached RON1.78 billion, at a consolidated level, up 13% year-over-year.
In the first quarter of 2024, the company posted consolidated operating revenue from the balancing and construction activity, according to IFRIC 12 worth RON706 million, up 53%, and net profit of RON262 million, double the level of the year-earlier period.
Transgaz has a RON4 billion capitalization and is 58.5% controlled by the Romanian state. Its shares have added 14% since the start of the year amid deals worth RON57.8 million.
In the past year, the company’s shares have gained 21.7% amid RON167.2 million worth of deals.
(English version by Catalina Apostoiu)