Romania’s National Gas Transmission Company Transgaz Medias recorded a preliminary net profit of EUR 63.1 million in 2012, down some 26 percent compared to the previous year, according to the company’s report submitted to the Bucharest Stock Exchange (BVB).

Transgaz’s total revenues also dropped over 2 percent last year, to some EUR 319 million, mainly because the company transported 547 million cubic meters less gas compared to 2011. The expenses of the gas company grew 3.1 percent year-on-year, to some EUR 229 million, while the turnover went slightly down to EUR 292 million, according to the preliminary results.

The Romanian state holds 73.5 percent of Transgaz’s share package, through the Ministry of Economy, Trade and Business Environment, while Fondul Proprietatea has 14.9 percent. The Romanian authorities recently told the International Monetary Fund (IMF) that the secondary public offering of 15 percent of the capital of Transgaz will be finalized in the coming months.

Irina Popescu, irina.popescu@romania-insider.com