Romanian natural gas producer Romgaz reported a slight increase in profit for the first quarter of 2026, supported mainly by lower operating costs, even as the company faced weaker revenues and declining production levels.
The group posted a consolidated net profit of approximately €186.8 million, marking a 2.3% increase compared to the same period last year. However, total revenue fell by just over 10% year-on-year to around €411 million. At the same time, operating expenses also decreased, dropping by 10.3% to approximately €224.6 million in the January–March 2026 period.
Despite higher net profit, key profitability indicators showed some weakening. EBITDA declined by 7.4% to €232.4 million, while EBIT fell by 5.1% year-on-year to €205.5 million, reflecting pressure on core operational performance.
Production figures also pointed to a downward trend. Natural gas output reached 1.235 billion cubic meters, representing a 3.9% decrease compared to the previous year. Electricity generation saw a much sharper decline, falling by 46.4% to 106.98 GWh, highlighting reduced activity in the power segment.
At the same time, the company continued to strengthen its balance sheet. Total assets rose to just over €5 billion by the end of March, compared to €4.8 billion at the end of 2025, indicating ongoing financial expansion despite operational contraction.
Romgaz has also been advancing several strategic initiatives. Earlier this month, the company reached a preliminary agreement with fertilizer producer Azomureș regarding the potential acquisition of its operational business activities, signaling potential diversification and downstream integration in its portfolio.
