In the first quarter (Q1) 2022, Romgaz Group recorded a revenue of RON 3,925.8 million, increased by 195.78%, namely RON 2,598.5 million, as compared to the revenue achieved in Q1 2021. Compared to Q4 2021, the revenue increased by 66.6%, reveals the quarterly report of the company, consulted by Energynomics.

Net consolidated profit of RON 979.6 million was higher by 111.24%, namely by RON 515.9 million, compared to the same period of the previous year. Compared with Q4 2021, net profit increased by 29.13%.

Net consolidated earnings per share (EPS) was RON 2.5.

The achieved margins of the consolidated net profit (24.95%), consolidated EBIT (28.97%) and consolidated EBITDA (31.24%) decreased as compared to Q1 2021 (34.94%; 41.33% and 52.42% respectively) but remain at high levels. Decreases in the percentage rates of these indicators are generated by the windfall tax and petroleum royalty which increased from RON 201.0 million in Q1 2021 to RON 2,303.9 million in Q1 2022 (+1,046.2%). Compared to Q4 2021, these expenses were 14.77% higher.
On March 30, 2022, Romgaz signed a credit facility agreement in amount of EUR 325 million for the acquisition of all shares issued by ExxonMobil Exploration and Production Romania Limited which holds 50% of the rights and obligations under the Concession Agreement for the Exploration, Development and Production of XIX Neptun Deep Block.

Natural gas consumption estimated at national level for Q1 2022 was about 44 TWh, approximately 11% lower than the consumption recorded in Q1 2021.

Natural gas production recorded in Q1 2022 was 1,307.2 million m3 , 0.33% lower than in Q1 2021.

The amount of electricity produced was 345.34 GWh in Q1 2022, 70.87% higher than production in the similar period of last year (202.1 GWh).

National gas consumption estimated for Q1 2022 was 44 TWh, approximately 11% lower than the consumption recorded in Q1 2021, out of which approximately 9.5 TWh was covered by import gas and the difference of 34.5 TWh by domestic gas. Romgaz contribution was 15.7 TWh, representing 35.72% from the national consumption and 45.53% from the consumption covered from domestic gas.

Autor: Bogdan Tudorache

Active in the economic and business press for the past 26 years, Bogdan graduated Law and then attended intensive courses in Economics and Business English. He went up to the position of editor-in-chief since 2006 and has provided management and editorial policy for numerous economic publications dedicated especially to the community of foreign investors in Romania. From 2003 to 2013 he was active mainly in the financial-banking sector. He started freelancing for Energynomics in 2013, notable for his advanced knowledge of markets, business communities and a mature editorial style, both in Romanian and English.