Romanian gas transmission system operator Transgaz said on Monday that its net profit jumped by an annual 70% on the year in the first quarter of 2022, to 268 million lei ($56 million/54 million euro). - SeeNews

Operating profit was 35% higher year-on-year at 243 million lei, while the operating revenue before the balancing and construction activity was flat on the year to 457 million lei in the first three months of 2022, Transgaz said in an unaudited annual financial report filled with the Bucharest Stock Exchange.

Operating costs before the balancing and construction activity fell 23% on the year to 214 million lei in the first quarter.

In 2021, Transgaz's net profit edged up 1% to 167 million lei.

At group level, Transgaz booked a net profit of 268 million lei in the first quarter of 2022, up 67% 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 2.56% higher at 240 lei on the Bucharest Stock Exchange as at 0931 CET on Monday.