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Romgaz estimates a gross profit of 1.14 billion lei this year
Romgaz, the gas producer, one of the most profitable state-run companies, estimates for this year a gross profit of 1.14 billion lei,at total revenue of 4.34 billion lei and decided to have investments of 1.292 billion lei. Romgaz Medias ( the parent company) is also single shareholder with Romgaz – Filiala de Inmagazinare Gaze Naturale Depogaz Ploiesti.
Thus, the Romgaz group decided on total investments of 1.34 billion lei for 2001, a gross profit of 1.05 billion lei and total revenue of 4.46 billion lei.
The indicators were approved by the shareholders in the meeting of Friday.
‘In the budget for income and expenses of the parent company, the expenses with investments programmed are worth 1,292,500,000 lei, financed from their own sources and the National Programmed for Investments. In the budget for income and expenses of the Branch (filiala), the investments for 2021 are included as a sum of 50,000.000 lei,the financing sources of the investments being thus made: depreciation 7,087,000 lei, from the profit of the current year 12,312,000 lei and from reserves of the previous years 30,601,000 lei’ the document approved by the shareholders shows.
The shareholders of the company extended on 6th May until 20th May the suspension of the notification for the termination of the contract for the Iernut unit, regarding the construction of a thermal electrical unit of 430 MW, with cycle combined with gas turbines.
‘The decision to extend the suspension of the notification for termination of the contract no.13384/201116 was taken as a result of the letter Duro Felguera SA, registered with Romgaz with no.14476/6.05.2021, through which they communicate the fact that there were changes at the level of the leadership Duro Felguera SA and the request of a new meeting to resume negotiations, with a view to identifying ,evaluating and implementing a solution to ensure the finalisation of the investment objective, in a short period of time’ the company says.
Romgaz has taken over the thermal power station in Iernut in 2013from the thermal energy producer Elcen to put an end to a debt of 653 million lei.
It is already the third time when Romgaz postpones the decision to terminate the contract with the consortium made up of Romelectro and Duro Felguera. Romgaz signed in 2016 a contract worth 268 million euro, without VAT with the companies Duro Felguera and Romelectro for a new unit for production of electricity in the Iernut thermal power station of 430 MW. The thermal power station on gas from Iernut was to be finalised at the end of 2019, according to the initial schedule.
Romgaz has 5,700 employees and capitalisation of 12,71 billion lei. The Depogaz branch has almost 500 employees.
The state company planned investments of 15,69 billion lei until 2025, the biggest part in partnership regarding offshore projects in the Black Sea. Out of this sum, in the production of electricity, the company wants to invest 3.66 billion lei, in electrical power stations in Iernut and Mintia, as well as in renewable sources of energy.
Romgaz is the biggest producer and main supplier of natural gas in Romania. The company is included in trading on the market of the BVB and LSE ( the London Stock Exchange.the The main shareholder is the Romanian state with a share of 70%.