BAKU, Azerbaijan, May 15
By Leman Zeynalova – Trend:
Romgaz Group recorded in Q1 2021 a revenue of RON 1,327.2 million, decreasing by 7.21 percent, namely RON 103.1 million, as compared to the revenue recorded in Q1 2020, Trend reports with reference to the company.
However, Romgaz supplied in Q1 2021 gas quantities higher by 14.12 percent than in Q1 2020. In 2021 Romgaz Group collected part of the receivables impaired at the end of 2020, that led to a net gain from impairment adjustments of RON 31.6 million. Expenses with windfall tax decreased as compared to Q1 2020 by RON 63.9 million.
The Group recorded in Q1 2021 an additional provision for purchase of greenhouse gas emissions certificates of RON 67.3 million, due to the increase of certificate price as compared to the estimation made in December 2020. Net consolidated profit of RON 463.8 million was lower by 18.91 percent, namely RON 108.2 million, versus the similar period of the previous year. Net consolidated earnings per share (EPS) was RON 1.2.
The achieved margins of the consolidated net profit (34.9 percent), consolidated EBIT (41.3 percent) and consolidated EBITDA (52.4 percent) decreased slightly as compared to Q1 2020 (40 percent; 46.8 percent and 57 percent respectively) but maintains a high rate.
In Q1 2021, Romgaz shares trading price followed an upward trend, slightly oscillating, starting with January recording on January 5, 2021 the lowest value 28.35 RON/share and until March when it reached the maximum value of the period, on the last day of the month, 33.20 RON/share. The average value of the period was 31.62 RON/share, and the price on the last day of the quarter was by 16.7% higher than the price recorded in the first trading day of the year. The GDR trading price followed a similar trend, recording an average of 7.60 USD/GDR. On the first trading day of the year (January 4, 2021) the GDR was at its minimum level, 7 UDG/GDR, its value increased with slight oscillations during Q1 2021, reaching its maximum value of 8.15 USD/GDR on March 19, 2021. On the last day of Q1 2021, GDRs were traded for 7.75 UDS/GDR, increasing by 10.71% as compared to the value recorded in the first trading day of the reporting period.
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