The company now expects total revenue of RON7.65 billion, 9% lower than previously approved in March 2024.
Romgaz also forecasts profit of RON2.35 billion, 22% lower than the RON3 billion level projected in the budget of revenue and expenditure approved in March 2024.
SNG shares have gained 12.4% so far in 2024 and 38.7% in the last 12 months. The company is 70%-owned by the Romanian State and is valued at RON22 billion.
Romgaz reported net profit of RON1.2 billion for the first quarter of 2024, up 28% from the same period of 2023. Its turnover dropped 22% on the year to RON2.3 billion.