Gas transmission system operator Transgaz recorded a net profit of 32.2 million euros in 2023, 56% lower compared to the previous year. In the same period, operating profit was 41% and amounted to 19 million euros.
The decline is due to a drop in balancing activity revenue, lower construction activity revenues and increased operating costs driven by rising employee costs, royalty changes and depreciation expenses.
In 2023, Transgaz transported 141.5 million MWh of natural gas, almost 450,000 MWh less than in 2022.
At a group level, Transgaz recorded a net profit of 34.7 million euros in 2023, down 50 % year-on-year.
