Romania Transgaz 2014 profit rises 52 pct y/y, below fcast

Societatea Nationala de Transport Gaze Naturale Transgaz SA

13/02/2015 07:37

BUCHAREST, Feb 13 (Reuters) - Romania's state-owned gas 
pipeline operator Transgaz  ROTGN.BX  posted a net profit of 
507.4 million lei ($130.73 million) below forecast, but 52 
percent up from 2013, company data showed on Friday. 
    Analysts at Alpha Bank in Bucharest had expected a net 
profit of 549 million lei. Transgaz recorded a net profit of 
334.5 million lei in 2013. 
    "We find Transgaz 2014 performance impressive as 
profitability reached record levels," Alpha analysts said in a 
note. "The 52 percent jump in bottom line was supported by a 12 
percent EBIT appreciation. However, figures came short of our 
estimates as we have expected to see a 35 million lei provision 
reversal in Q4." 
    ($1 = 3.8812 lei) 
 
 (Reporting by Radu Marinas) 
 ((radu.marinas@thomsonreuters.com; +40 21 305 5263; Reuters 
Messaging: radu.marinas.thomsonreuters.com@reuters.net)) 
 
Keywords: TRANSGAZ RESULTS/