H1 2019 report

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

 

CURRENT REPORT

according to the provisions of Art. 61 of Law 24/2017

 

Date of report: 14 August 2019

Name of issuing entity: SNTGN TRANSGAZ SA MEDIAS

Headquarters: Medias, 1 Constantin I. Motas Square, Sibiu County

Telephone/fax number: 0269803333/0269839029

Tax number: RO 13068733

Trade Register number: J32/301/2000

Subscribed and paid-up capital: RON 117.738.440

Regulated market on which issued securities are traded: Bucharest Stock Exchange

Reported events: Interim Financial Statements for semester I 2019, unaudited

According to the provisions of capital market law, SNTGN Transgaz SA Medias informs those concerned of the following:

By Resolution no 36 taken in the meeting held on 9 August 2019 the Board of Administration approved the Interim Financial Statements of SNTGN Transgaz SA for semester I 2019, unaudited, prepared in accordance with the International Financial Reporting Standards adopted by the European Union.

In the same meeting the Board of Administration endorsed the Report issued by the Board of Administration of SNTGN Transgaz SA for the activity performed in semester I 2019 for its submission to the Ordinary General Meeting of the Shareholders.

According to the capital market law, the unaudited Interim Financial Statements of SNTGN Transgaz SA for semester I 2019 contain:

§  The Statement of the responsible persons within SNTGN Transgaz SA;

§  The Interim Statement of Financial Standing;

§  The Interim Statement of Comprehensive Income;

§  The Interim Statement of Changes in Equity;

§  The Interim Cash Flow Statement;

§  Notes to the Interim Financial Statements;

§  The Report for the revision of the Interim Financial Statements.

The Interim Financial Statements for semester I 2019 are not audited.

The economic and financial activity of SNTGN Transgaz SA during the period January-June 2019 was performed based on the indicators in the revenue and expense budget approved by OGMS Resolution 3/16.05.2019.

The situation of the financial results achieved as at 30 June 2019 as compared to the similar period of 2018 is presented in the table below:

 

No.

Indicator

MU

Sem I 2019

Sem. I 2018

1.

Turnover

thousand lei

938.808

883.524

2.

Operating revenue before the balancing and the construction activity acc. to IFRIC12

thousand lei

774.994

808.806

3.

Operating expense before the balancing and the construction activity acc. to IFRIC12

thousand lei

560.033

491.046

4.

Operating profit before the balancing and the construction activity acc. to IFRIC12

thousand lei

214.961

317.760

5.

Revenue from balancing

thousand lei

183.208

90.483

6.

Cost of balancing gas

thousand lei

183.208

90.483

7.

Revenue from the construction activity acc. to IFRIC12

thousand lei

297.898

34.919

8.

Cost of assets built acc. to IFRIC12

thousand lei

297.898

34.919

9.

Operating profit

thousand lei

214.961

317.760

10.

Financial revenue

thousand lei

33.199

21.978

11.

Financial cost

thousand lei

16.433

8.878

12.

Gross profit

thousand lei

231.726

330.860

13.

Tax on profit

thousand lei

36.225

50.590

14.

Net profit

thousand lei

195.500

280.270

15.

Total comprehensive result for the period

thousand lei

195.500

280.270

16.

Transmitted gas*)

MWh

73.279.756

71.483.634

17.

Technological consumption

thousand lei

39.228

39.745

18.

Technological consumption

MWh

389.039

504.476

  *) transmitted quantity for which transmission services are invoiced

Operating revenue before the balancing and the construction activity according to IFRIC12 decrease by 4% as compared to the achievements related to semester I 2018, recording a decrease of lei 33,812 thousand mainly because of the lower revenues obtained from the domestic transmission activity.

Operating costs before the balancing and the construction activity according to IFRIC12 increase by 14% as compared to semester I 2018, their level being by lei 68,987 thousand higher, the company registered savings mainly on account of royalty expenses, maintenance and transport, technological consumption and expenses on the provision for risks and expenses.

As compared to the achievements related to semester I 2018 the gross profit achieved in semester I 2019 is 30% lower, namely by lei 99,134 thousand.

By reference to the Revenue and Expense Budget related to semester I 2019 the gross profit is 108.39% higher than the program, its level being by lei 120,526 thousand higher than as provided for in the REB and the net profit by 98.61% higher than the planned one, namely by lei 97,068 thousand higher than the one provided for in the REB.  

The detailed description of the indicators is available in the Report issued by the Board of Administration related to Semester I 2019.

 

Ion Sterian

Director General