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Transgaz keeps growing

Transgaz state-owned natural gas transporter based in Medias (central Romania) scored a net profit worth 189.35 million lei (44.87 million euros), in the first nine months of 2009, by 5.7 percent more than 179.07 million lei (49.2 million euros registered over Jan-Sept 2008, read data Transgaz sent to the Bucharest Stock Exchange (BVB).

The drop in the national natural gas consumption that implicitly affected Transgaz's activity amounted to round 20 percent in the first nine months of the year, but the rise in the prices the regulators approved helped the Company to score ascending figures, say analysts cited by the Business Standard daily.

Thanks to the adjustment of the regulated tariffs in the transport services, Transgaz reported revenues by 6.88 percent higher, namely 965.303 million lei (204.67 million euros), during the first nine months of the year.

Over Jan-Sept 2009, the Company's financial revenues amounted to 34.06 million lei, namely 8.05 million euros, representing 3.93 percent of the total revenues, compared to the financial revenues worth 21.5 million lei (5.9 million euros) representing 2.65 percent of the total revenues, reported over the same time span of 2008.

Transgaz's net profit poses for 99.48 percent of its budget earnings over this period, amounting to 190.34 million lei (45 million euros). Likewise, the total revenues represent 90.44 percent compared to the expected revenues and expenditure budget, while the total expenditures grossed 87.23 percent compared to the budgeted level.

According to the data Transgaz sent to the BVB, the Company numbered by round 3 percent fewer employees in end, 2009 than in 2008. Thus, Transgaz used to have 5,022 permanent employees, at the end of the first nine months of the year, compared to 4,869 as it counted in end Sept 2008. The difference represents the number of people who retired, whereas no others were hired, explained the Company's director for strategy, capital market and corporative relations Elisabeta Ghidiu.

Transgaz expects shipping 12.128 billion cu.m. natural gas in 2009 instead of.14.45 billion cu.m as it initially planed.

Sursa: http://www.agerpres.ro

Tags: million revenues percent euros transgaz bvb