2018 Q3 report

TGN S.N.T.G.N. TRANSGAZ S.A.

QUARTERLY FINANCIAL RESULTS AT 30 SEPTEMBER 2018

(01.01-30.09.2018)

 

SNTGN Transgaz SA is a public limited liability company operated according to the Romanian laws and to the Articles of Incorporation.

According to Government Resolution 334/2000 and to the Articles of Incorporation, Transgaz aims at giving effect to the national strategic goals set for gas transmission, international transit, dispatching, research and design, by performing trading acts according to its object of activity, in line with the Romanian laws in force.

The revenue obtained by Transgaz results from the following activities:

§  domestic gas transmission activity, which, due to its monopolistic feature, is regulated by the National Energy Regulatory Authority.  

§  international gas transmission activity, which is a gas transmission activity performed through dedicated transmission pipelines (that are not connected to the national transmission system).

§  balancing activity performed as of 1 December 2015 based on ANRE Order 160/2015 establishing the obligations of the Company on the balancing of the national transmission system, a financially neutral activity, any profit or loss from this activity following to be distributed to the customers for which the domestic transmission services are provided.

The total revenue from other activities with a small contribution to the turnover, such as asset sales, renting and royalty, interest revenue and foreign exchange gains, the operating costs and the financial costs related to the debt for the regulated value remaining unamortised of the regulated asset base at the end of the Concession Agreement complete the total revenue of the Company.

The main economic and financial indicators obtained at 30 September 2018, which is Q III 2018, compared to the same period of 2017 are presented below:

Name

Obtained

 9 months 2017

Obtained

 9 months 2018

Increase

Obtained

Q III 2017

Obtained

Q III 2018

Increase

Operating revenue before the balancing and construction activity, according to IFRIC12

1.302.437

1.115.708

-14%

321.960

291.801

-9%

Revenue from the balancing activity

92.299

118.838

29%

15.608

28.354

82%

Revenue from the construction activity according to IFRIC12

28.067

109.545

290%

10.535

74.626

608%

Financial revenue

176.284

36.560

-79%

154.517

14.582

-91%

Operating costs before the construction activity, according to IFRIC12

811.971

777.746

-4%

291.994

271.599

-7%

Costs from the balancing activity

87.337

118.838

36%

15.425

28.354

84%

Cost of assets built according to IFRIC12

28.067

109.545

290%

10.535

74.626

608%

Financial costs

147.972

18.009

-88%

139.300

9.131

-93%

GROSS PROFIT, of which:

523.742

356.513

-32%

45.366

25.653

-43%

· from operation

495.429

337.962

-32%

30.149

20.202

-33%

· from the financial activity

28.313

18.551

-34%

15.218

5.451

-64%

Income tax

90.190

57.231

-37%

12.305

5.977

-51%

NET PROFIT

433.552

299.282

-31%

33.061

19.676

-40%

Values expressed in *RON thousand*

The Quarterly Report at 30 September 2018 (01.01-30.09.2018) is prepared according to Annex 13 ASF Regulation no. 5/2018 and includes unaudited financial information.

Please access the link here below to view the full report or Transgaz`s website at  http://www.transgaz.ro/ro/informa%C8%9Bii-investitori/raportari_trimestriale/2018.