In 2010, Transgaz reported net profit of RON376.3 million (EUR89.3 million).
The company forecasts total revenue will fall 9% on the year to RON1.25 billion in 2011, while overall costs are predicted to increase 20% at RON1.1 billion, according to this year’s revenue and expenditure budget.
Transgaz plans to pay out total dividend of RON111.5 million in 2012, equal to 90% of the estimated profit for this year. From the 2010 profit, Transgaz proposed paying total dividend of RON338.7 million.
The company’s revenue and expenditure budget is subject to shareholder approval at a meeting due July 12.
Transgaz was listed on the Bucharest Stock Exchange at the beginning of 2008. The Economy Ministry owns a 73.5% stake, investment fund Fondul Proprietatea has almost 15% of its shares and the rest is distributed among minority shareholders.
Romanian authorities announced plans to list an additional 15% stake in Bucharest by year-end.
Wednesday, Transgaz closed up 1.96% at RON265.3 a share. (EUR1=RON4.172)