In 2021, Transgaz recorded an increase in revenue of 2% YoY, an increase in EBITDA of 16.7%, and a net profit of RON 166.9m, a 1% increase YoY.

In 2021, Transgaz recorded a 2% YoY increase in operating revenue before the balancing and construction activity, which amounted to RON 1.33bn, mainly influenced by higher commodity revenue (+ RON 9.7m) due to higher gas transmitted capacities.

The commodity tariffs decreased in 2021 compared to 2020 mainly due to the Order 10/2017 of the ANRE President on the amending of Order 32/2014 of ANRE President on the approval of the Gas Transmission Regulated Revenue, Total Revenue and Regulated Tariffs Methodology, which establishes the increasing by 5% per year of the percentage by which the approved revenue is recovered by the application of the capacity booking tariff, up to 85%, and the decreasing of the percentage by which the approved revenue is recovered by the application of the commodity tariff. The revenue from the balancing activity was higher by RON 242.9m due to the higher trading price.

Operating costs before the balancing and construction activity increased by 5% YoY (or RON 62.5m) mainly due to increases in depreciation (+44.6% or RON 111m), which is based on the completion and commissioning of major investment projects, as well as higher employee costs (+7.6% or RON 33.2m). At the same time, the cost or royalty (the Company pays 0.4% of the value of gross revenue from the gas transmission and transit operations through the transmission systems in the public property of the state, as compared to 10% before), and as such, they saved RON 102.8m (or reduced their royalty fees by 95.4%).

As a result, the Company’s gross profit amounted to RON 231.9m, an increase of 16% YoY. At the same time, the Company’s net profit amounted to RON 166.9m, a 1% increase YoY.

Transgaz Key Financials (RON)