The company’s revenue rose 9% to RON1.69 billion, from RON1.55 billion in 2013, mainly due to increased reserved capacities and higher quantities billed, the company said in its preliminary financial report.
Total expenditure went down 4.4% to RON1.07 billion, despite an 8% increase in operating costs. The company had to pay higher taxes and book additional depreciation costs. However, financial costs were considerably lower than in 2013, when Transgaz had to write off RON110.67 million in relation to the failed Nabucco West pipeline project, in which the company was a minority shareholder.
In 2014, Transgaz invested RON152.3 million.
Transgaz is listed on the Bucharest Stock Exchange, and is currently valued at RON3.28 billion.
The Romanian Economy Ministry owns a 58.5% stake in the company. (EUR1=RON4.4316)