Romania · Delayed Price · Currency is RON S.N.T.G.N. Transgaz Earnings Call Transcripts
Fiscal Year 2026
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H1 2026 results exceeded budget by 16%, with net profit up 11% versus budget but down year-over-year due to lower tariffs and higher costs. Regulated revenue is set to rise 40% for 2026-2027, while transmission tariffs will decrease. Major investments and new capacity bookings are expected to support future growth.
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Q1 2026 profit exceeded budget by 25% but fell 21% year-over-year, with higher booked capacity and lower costs offset by decreased operating revenue. Moldova operations improved, and major projects like Mintia and Black Sea are set to increase volumes and lower tariffs.
Fiscal Year 2025
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Preliminary 2025 results show operating profit up 200% and net profit up 290% year-over-year, driven by strong revenue growth and efficiency gains. Major investments and expanded export capacity position the group for future growth.
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Gross and net profit surged year-over-year, driven by higher capacity bookings and balancing activity. Major investments continue, with strong demand for transmission capacity and new routes boosting revenue and energy security.
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Net profit surged 87% year-over-year in Q1 2025, driven by a 148% rise in operating revenue and strong capacity bookings. Major infrastructure projects and hydrogen initiatives are advancing, with a RON 350 million revenue surplus to be returned over two years.
Fiscal Year 2024
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Gross and net profit more than doubled year-over-year, driven by higher operational revenues and improved cost management. Major investments are underway, with CapEx focused on key projects like Tuzla-Podișor and Mintia, and the group expects gas transmission volumes to double as new plants and Black Sea gas come online.
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Net profit for the first nine months of 2024 rose fourfold year-over-year, driven by the approval of regulated revenue and updated tariffs. Major infrastructure projects are progressing, while market uncertainties and the loss of Gazprom revenue present ongoing risks.
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Net profit more than doubled year-over-year, driven by higher transmission tariffs and regulated revenue, while operating costs rose due to increased royalties and the integration of Moldova's transmission system. Major investments are underway, supported by new financing.