August 17 (SeeNews) - Romanian gas transmission system operator Transgaz [BSE:TGN] said that its net profit rose by an annual 31% on the year in the first half of 2022, to 185 million lei ($38.4 million/37.9 million euro).
Operating profit was 23% lower year-on-year at 211 million lei, while operating revenue before balancing and construction activity was flat on the year at 704 million lei in the first six months of 2022, Transgaz said in an unaudited annual financial report filled with the Bucharest Stock Exchange on Tuesday evening.
Operating costs before balancing and construction activity rose 17% on the year to 667 million lei in the first half.
Duting the first half of the year, Transgaz transported 70.7 million MWh worth of gas, 11% lower on the year.
In 2021, Transgaz's net profit edged up 1% to 167 million lei.
At group level, Transgaz booked a net profit of 177 million lei in the first half of 2022, up 33% on the year. Transgaz Group includes parent company Transgaz, Moldovan subsidiary Eurotransgaz and Moldovan gas transmission company Vestmoldtransgaz.
The Romanian state owns 58.5% of Transgaz, with the remainder in free float on the Bucharest bourse.
Transgaz' shares traded 0.20% higher at 251 lei on the Bucharest Stock Exchange as at 1015 CET on Wednesday.
(1 euro=4.8831 lei)