Romania's Transgaz 9-mo net profit down 9% y/y

Operating profit was 18% lower year-on-year at 357 million lei, while operating revenues fell by an annual 7% to 1 billion lei, Transgaz said in an unaudited January-September financial report filled with the Bucharest Stock Exchange.

Operating costs before the balancing and construction activity fell by an annual 5% to 796 million lei in the nine months through September. Costs from the balancing activity were 41% lower on the year, at 148 million lei at end-September.

Investments made by the company during January-September 2020 amounted to 984 million lei.

Transgaz's net profit fell by 29% to 349.4 million lei last year due to a drop in transmission fees.

At the end of October, Transgaz announced that it is has signed a 360 million lei loan deal with local lender Banca Comerciala Romana (BCR) to finance two investment projects.

Transgaz' shares traded 2.08% lower at 283 lei on the Bucharest Stock Exchange as at 1415 CET on Friday.

(1 euro=4.8690 lei)