Romgaz halves profit at nine months
The net profit of Romgaz drops 55 percent in the first nine months if this year and reached EUR 93.1 million (410.6 million lei), while its turnover downsized by 10 percent to EUR 586.8 million. The negative evolutions owe to decreasing demand on local market from domestic resources but also due to low imports. 2013-11-14 16:01:19
The overall revenues of the company decreased by 8 percent to EUR 694 million, while the overall costs increased 11 percent to EUR 552 million, a company report states. Last month, Romgaz shares have been listed through IPO on BSE and investors submitted firm orders exceeding 1.8 billion lei. This week, Romgaz share started to be sold on BSE and most of traders estimated that Romgaz shares will increase by 10 to 20 percent in the first trading day, compared with the price of 30 lei for shares listed through IPO. Romgaz Medias, recording the largest listing for a company on BSE in the last ten years, was estimated at EUR 2.6 billion taking into account the share price traded following the initial public offering.
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