REG - S.N.G.N. Romgaz S.A. - 1st Quarter 2018 Financial Results

Societatea Nationala de Gaze Naturale Romgaz SAAnnouncement

15/05/2018 07:05

RNS Number : 0491O
S.N.G.N. Romgaz S.A.
15 May 2018
 

QUARTERLY REPORT REGARDING THE ECONOMIC-FINANCIAL ACTIVITY OF S.N.G.N. ROMGAZ S.A. ON MARCH 31, 2018
(January 01, 2018 - March 31, 2018)


IDENTIFICATION DETAILS ON REPORT AND ISSUER




Report Basis


Article 67 of Law no. 24/2017 on issuers of securities and market operations and Annex 30 to CNVM Regulation no.1/2006 for a three-month period ended on March 31, 2018




Report Date


May 15, 2018




Name of the Company


Societatea Nationala de Gaze Naturale "ROMGAZ" SA




Headquarters


Mediaş 551130, No.4 Piaţa Constantin I. Motaş, County of Sibiu




Telephone/Fax number


0040 269 201020 / 0040 269 846901




Web/E-mail


www.romgaz.ro / secretariat@romgaz.ro




Fiscal Code


RO 14056826




Legal Entity Identifier (LEI)


2549009R7KJ38D9RW354




Trade Registry No.


J32/392/2001




Subscribed and paid in share capital


RON 385,422,400




Number of shares


385,422,400 each with a nominal value of RON 1




Regulated market where the company's shares are traded


Bucharest Stock Exchange (shares) and London Stock Exchange (GDRs)




 
ROMGAZ BY FIGURES
The achievement of net profit margin (33.81%), EBIT margin (39.56%) and EBITDA margin (50.67%), confirms that the high profitability of the company's activity is maintained. 
As compared to the same period of the previous year, the company's performance was influenced by the reduction of delivered gas quantities determined by a national-wide gas consumption reduction, a warm winter, increased hydraulicity and wind power generation, all corroborated with low prices.
Relevant Financial Results
*RON million*




Q1 2017


Q4 2017


Q1 2018


Δ Q1
(%)


Main Indicators


2016


2017


Δ '17/'16 (%)




1,497.5


1,343.5


1,482.3


-1.02


Revenue


3,411.9


4,585.2


34.4




1,390.3


1,544.1


1,406.4


1.16


Income


3,816.8


4,786.0


25.4




721.1


763.7


808.7


12.15


Expenses


2,536.1


2,604.9


2.7




669.2


780.4


597.7


-10.68


Gross profit


1,280.7


2,181.2


70.3




108.3


109.7


96.5


-10.90


Profit tax


256.1


326.4


27.5




560.9


670.7


501.2


-10.64


Net profit


1,024.6


1,854.7


81.0




664.2


773.7


586.4


-11.71


EBIT


1,258.6


2,158.8


71.5




892.2


914.9


751.1


-15.81


EBITDA


1,569.6


2,707.7


72.5




1.5


1.7


1.3


-13.33


Earnings per share (EPS) (RON)


2.66


4.8


80.5




37.45


49.9


33.81


-9.72


Net profit ratio (% of Revenue)


30.0


40.45


34.8




44.36


57.6


39.56


-10.82


EBIT Ratio (% of Revenue)


36.9


47.08


27.6




59.58


68.1


50.67


-14.95


EBITDA (% of Revenue)


46.0


59.05


28.4




6,220


6,198


6,157


-0.7


Number of employees at the end of the reporting period


6,246


6,198


-0.8




 
The figures in the table above are rounded, therefore, small reconcilliation differencies may exist.
Note: income and expenses do not include in-house works capitalized as non-current assets.
Operational Results




Q1 2017


Q4 2017


Q1 2018


Δ Q1/Q4 (%)


Main indicators


Q1 2017


Q1 2018


Δ Q1 (%)




1,333.0


1,406


1,364.1


-3.0


Gross production (million m3)


1,333.0


1,364.1


2.3




98


83


101


21.7


Petroleum royalty (million m3)


98


101


2.5




1.672


1,393


1,635


17.4


Condensate production (tonnes)


1,672


1,635


-2.2




611.4


398.3


287.3


-27.89


Electric power production (GWh)


611.4


287.3


-53.0




1,167.5


537.0


1,098.2


104.5


UGS withdrawal services invoiced (million m3)


1,167.5


1,098.2


-5.9




502.5


121.8


298,5


145.1


UGS injection services invoiced (million m3)


502.5


298.5


-40.6




 
The gas production recorded for Q1 2018 was 1,364.1 mil m3, by 2.3% higher than the production recorded in the similar quarter of the previous year. These results were achieved under the following circumstances:
@ natural gas import increased in Q1 2018, Romania imported a quantity of 8.3 TWh, by 14% higher than for the same period of 2017;
@ From Romgaz natural gas stocks stored in underground storages, the withdrawn quantity was by 11.9 TWh less than in the same period of 2017.
The natural gas consumption estimated1 at national level for Q1 2018 was of 49.77 TWh, by 1.05% lower than the consumption recorded in Q1 2017 (50.3TWh) out of which approximately 8.33 TWh was covered by import gas and the remaining 41.44 TWh by domestic production to which Romgaz participated with 18.46, representing 37.09% of the national consumption and 42.45% of the consumption covered by domestic gas. The company's market share decreased by 2.5% as compared to the market share held in Q1 2017.
For Q1 2018, the electricity quantity supplied was by 52.8% lower than the similar period of 2017 due to a warm winter, low prices and lack of commitment to the Balancing Market due to increased hydraulicity and wind power generation. According to the data offered by Transelectrica, the market share was 1.64 % in Q1 2018.
The full version of Q1 2018 Report (January - March 2018) and the Individual Interim Financial Statements (not audited) for the three-month period ended March 31, 2018 are available on company's website www.romgaz.ro - Section Investor Relations - Interim Reports and on RNS website at:
http://www.rns-pdf.londonstockexchange.com/rns/0491O_-2018-5-15.pdf
 
[1] The consumption is estimated because at the date of this report existing ANRE natural gas market reports relate only to
 May 2017, therefore the data used is estimated or deducted related to the data known having a higher certainty degree.



This information is provided by RNS
The company news service from the London Stock Exchange
 
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