In 2018, Transgaz recorded a decrease in operating revenues before the balancing and construction activity of 6% YoY, a decrease in EBITDA of 9.2% and a decrease in net income of 14.3%.

As Transgaz published their 2018 preliminary results, we are bringing you some key takes from the report. According to it, in 2018, Transgaz observed a decrease in operating revenue before the balancing and construction activity of 6% YoY, amounting to RON 1.6bn. The decrease in revenue can be attributed to lower capacity booking revenue by RON 33.8m and to lower commodity component revenue by RON 125.7m.

When observing their costs, the company recorded a decrease in operating costs before the balancing and construction activity of 3%, an increase of 508% in cost of assets built amounting to RON 388.5m. It also observed a decrease of 17% in other operating expenses, amounting to RON 93m.  Next, financial expenses decreased by 83%, amounting to RON 25.3m. This decrease could be attributed to the removal of the asset amounting to RON 138m from its accounting records, representing Transgaz’s share in the share capital of Nabucco Gas International Company GmbH.

Furthermore, Transgaz recorded a decrease in EBITDA of 9.2%, which amounted to RON 798.4m, while EBIT decreased by 12%, amounting to RON 582m.

In 2018, Net income decreased by 14.3%, amounting to 498.9m