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S.N.T.G.N. TRANSGAZ S.A. - TGN

2022 Q1 report

Release Date: 5/16/2022 7:56:00 AM

IRIS Code: BF23F

SNTGN Transgaz SA is a public limited liability company operated according to the Romanian laws and to the Articles of Incorporation.

According to Government Resolution 334/2000 and to the Articles of Incorporation, Transgaz aims at giving effect to the national strategic goals set for gas transmission, international transit, dispatching, research and design, by performing trading acts according to its object of activity, in line with the Romanian laws in force.

Since 2018, following the procurement of Vestmoldtransgaz SRL of Moldova by Eurotransgaz SRL, Transgaz, as a parent company, prepares consolidated group financial statements.

Consolidated companies in the Transgaz group:

 

 

Share (%)

SNTGN Transgaz SA

Parent company

 

Eurotransgaz SRL

Company held by SNTGN Transgaz SA

100%

Vestmoldtransgaz SRL

Company held by Eurotransgaz SRL

75%

As of 25.08.2021, the European Bank for Reconstruction and Development (EBRD) has become a shareholder with a 25% stake in the share capital of the natural gas transmission company VESTMOLDTRANSGAZ SRL, the subsidiary of TRANSGAZ in the Republic of Moldova, which owns and operates the Ungheni-Chisinau natural gas transmission pipeline.

The main consolidated economic and financial indicators obtained in Q I 2022 compared to Q I 2021 are as follows:

*thousand Lei*

Indicator

Q I 2022

Q I 2021

Increase

0

1

2

3=1/2x100-100

Operating revenue before the balancing and construction activity, according to IFRIC12

457.112

456.390

0%

Revenue from the balancing activity

316.952

74.253

327%

Revenue from the construction activity according to IFRIC12

26.440

158.010

-83%

Financial revenue

156.886

31.466

399%

Operating costs before  the balancing and construction activity, according to IFRIC12

217.550

279.383

-22%

Balancing activity costs

316.952

74.253

327%

Cost of constructed assets according to IFRIC12

26.440

158.010

-83%

Financial costs

81.713

14.966

446%

GROSS PROFIT, of which:

314.734

193.506

63%

·         from operation

239.561

177.006

35%

·         from the financial activity

75.172

16.500

356%

Income tax

56.376

39.091

44%

NET PROFIT

258.357

154.416

67%

The variation of the consolidated economic and financial indicators at 31 March 2022, compared to the indicators obtained in the similar period of 2021 is mainly determined by the variation of the individual economic-financial indicators recorded by SNTGN Transgaz SA at 31 March 2022 compared to the indicators obtained in the similar period of 2021.

The main impact of the subsidiaries in the consolidated result is determined by the evolution of the MDL (Moldovan Leu) exchange rate compared to the EUR currency in which it was partially obtained the source of financing of the investment project developed by the subsidiary and compared to the consolidated financial statements reporting currency (RON).

The main individual economic and financial indicators obtained at 31 March 2022, compared to the indicators obtained in the same period of 2021 are as follows:

 

* thousand Lei *

Indicator

Q I 2022

Q I 2021

Increase

0

1

2

3=1/2x100-100

Operating revenue before the balancing and construction activity, according to IFRIC12, of which

457.084

455.789

0%

-revenue from domestic transmission

411.335

421.450

-2%

-revenue from international transmission and similar

11.255

10.342

9%

Operating costs before  the balancing and construction activity, according to IFRIC12

213.816

276.002

-23%

Operating profit before the balancing and construction activity, according to IFRIC12

243.268

179.787

35%

Revenue from the balancing activity

316.952

74.253

327%

Balancing activity costs

316.952

74.253

327%

Revenue from the construction activity according to IFRIC12

26.440

158.010

-83%

Cost of constructed assets according to IFRIC12

26.440

158.010

-83%

Operating profit

243.268

179.787

35%

Financial revenue

154.038

24.024

541%

Financial costs

73.965

7.008

955%

Financial result

80.073

17.016

371%

GROSS PROFIT

323.341

196.802

64%

Income tax

55.423

38.906

42%

NET PROFIT

267.918

157.896

70%

In Q I 2022 operating revenue before the balancing and construction activity, according to IFRIC12 is similar to the one obtained in Q I 2021.

Operating costs before the balancing and construction activity according to IFRIC12 decreased by 23% in Q I 2022 as compared to Q I 2021, which is lower by Lei 62.186 thousand.

Compared to 31 March 2021 the gross profit obtained at 31 March 2022 increased by 64%, which is higher by Lei 126.539 thousand.

The Quarterly Report as of 31 March 2022 is prepared in line with the provisions of Annex 13 to the Financial Supervisory Authority Regulation No. 5/2018 on issuers of financial instruments and market operations, and includes unaudited financial information.

The full version of the report is publicly available:

§  on TRANSGAZ`s website at: http://www.transgaz.ro/ro/investitori/raportari_financiare

§  at the headquarters of TRANSGAZ in Medias, 1 C. I. Motas Square,  Sibiu County.

§  In soft copy – on the website of the Bucharest Stock Exchange, at the link below;

 

 

 

DIRECTOR - GENERAL

ION STERIAN

 

 

 



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