Societatea Nationala De Gaze Naturale Romgaz S.a. · BVB:SNG
Societatea Nationala De Gaze Naturale Romgaz — Romgaz — 9M 2025 Earnings Presentation
20 slides from Societatea Nationala De Gaze Naturale Romgaz's earnings presentation, Nov 14, 2025
Slide 1: Conference Call – 9 Months / the 3rd Quarter of 2025
Conference Call – 9 Months / the 3rd Quarter of 2025 Gabriela Trânbițaș, CFO November 14, 2025
Slide 2: Disclaimer
DISCLAIMER ROMGAZ Group (ROMGAZ or ROMGAZ Group or The Company) consists of SNGN ROMGAZ SA as parent company, Filiala de Înmagazinare Gaze Naturale Depogaz Ploieşti SRL (subsidiary owned 100% by ROMGAZ SA) and ROMGAZ Black Sea Limited (100% owned by ROMGAZ). This document was prepared by SNGN ROMGAZ
Slide 3: Opening remarks
Good afternoon, ladies and gentlemen, Thank you for joining our conference call to discuss the results recorded by Romgaz Group in the First 9 months of 2025. We published today the Quarterly Report and the Consolidated Interim Financial Statements for the first 9 Months and the 3rd Quarter of 2025,
Slide 4: Romania: Energy transition expected to reverse gas consumption evolution
Romania: Energy transition expected to reverse gas consumption evolution Total Natural Gas Consumption* (million MWh) 105 28 17 19 Domestic production Imports 70 14 23 81 85 87 35 57 49 0 2022 2023 2024 9M 2024 9M 2025 *Including from underground storages Natural Gas Prices on BRM, Current Imports a
Slide 5: Gas market context in the first 9 months of 2025
A. I will start with some aspects of the gas market context in the first 9 Months of 2025, compared to the same period of the previous year: • Natural gas consumption in Romania advanced marginally by 2.5% to 72 TWh, while gas imports recorded a significant increase of 65% - reaching a 32% weight in
Slide 6: Natural Gas Production - Onshore
Natural Gas Production - Onshore Gas Production Evolution (mln cm) +0.1% +3.6% y/y 4,963 +0.5% 4,936 3,672 3,676 4,789 1,185 1,190 2022 2023 2024 Q3' 24 Q3' 25 9M 2024 9M 2025 6
Slide 7: Operational and financial performance in 9M 2025
C. We continue this presentation by highlighting the operational and financial performance recorded by ROMGAZ Group in 9- Months 2025: 1. Production of natural gas reached 3.68 bcm, marginally higher by 0.1% year-on-year, and over-compensating for the committed natural decline of maximum 2.5%. In Q3
Slide 8: Gas Supply & Sales
Gas Supply & Sales ROMGAZ weight* in national gas consumption 80% Gas sales Volumes (million m3) and Revenues (million RON) 60% 7,978 40% 6,905 5,248 51.6% 54.9% 4,848 50.0% 47.9% 20% 4,525 4,571 0% 2023 9M 2024 2024 9M 2025 3,630 in total gas consumption in consumption from internal sources 1,449 1
Slide 9: Market share and gas sales revenues
2. Compared to last year, we improved even more our strong position already held on the Romanian gas market: our market share climbed to almost 55% of total consumption in Romania, and reached 80% of the consumption covered from domestically-produced gas, according to our assessment. 3. We recorded
Slide 10: Underground Gas Storage & Electricity
Underground Gas Storage & Electricity Revenues from Storage (million RON) Existing (Old) Plant - Electricity Production and Revenues Total UGS Revenues: +15.7% y/y 963 140 97 880 120 140 76 92 406 375 62 730 62 +31.3% y/y 301 295 220 230 43 76 1 0 480 75 81 2023 2024 307 2023 2024 9M 2024 9M 2025 Q3
Slide 11: Storage and electricity revenues
4. “Revenues from Storage Services” increased by 16% year-on-year to RON 432 million, with revenues from injection services 53% higher. 5. “Revenues from Electricity” declined by 20% year-on-year, RON 245 million – as production of our old power plant has expectedly decreased to 480 GWh in 9M 2025 –
Slide 12: Robust Profitability Margins
Robust Profitability Margins ► Significant profitability rates Summary 9M 2025 (vs 9M 2024) Revenues - total 6,048 million RON ( 7%) EBITDA 3,315 million RON ( 10%) 56.0% Net Profit 2,434 million RON ( 7%) 53.8% 54.8% EBITDA margin 54.8% () 47.0% 46.4% 46.2% NP margin 40.3% ( ) 42.0% Employees (
Slide 13: Total revenues, taxes and net profit
6. Overall, ROMGAZ Group reported “Total Revenues” of RON 6.05 billion, higher by 7% compared to RON 5.63 billion a year ago – based on the strong contribution of our upstream segment. 7. On the expenses side, we can point out that “Windfall Profit tax” decreased by 24% year-on-year, to RON 597 mill
Slide 14: Capital Expenditures mainly driven by Neptun Deep Development
Capital Expenditures mainly driven by Neptun Deep Development Capital expenditures (million RON) 3,204 2,843 2,158 1,214 CAPEX split by segments 5% 7% 5% 1% 8% 2023 2024 9M 2024 9M 2025 9% 2% 5% 1% 7% 6% 6% 17% 15% 12% 35% 69% 72% 73% 45% 2023 2024 9M 2024 9M 2025 Neptun Deep Equipment upgrades Elec
Slide 15: Capex and Neptun Deep progress
E. On the capex side, ROMGAZ Group invested a total consolidated amount of RON 2.84 billion in 9- Months 2025. Of this, RON 2.07 billion represented the investment of Romgaz Black Sea Limited, and RON 732 million – the investments made by Romgaz alone (mainly in exploration and production modernisat
Slide 16: Iernut Combined-Cycle Gas Turbine power plant
Another important objective is the Combined-Cycle Gas Turbine POWER PLANT in IERNUT – for which the completion rate was 98% for the overall turnkey project (consisting of the execution of the Initial Work Contract + execution of the New Works Contract) and 90% for the last EPC contract. As publicly
Slide 17: ROMGAZ Group - Important Corporate Events
ROMGAZ Group - Important Corporate Events October 28, 2025 October 22, 2025 October 24, 2025 October 13, 2025 The Second Issue of Bonds Decarbonization Strategy Fitch maintains outlook on Contract termination with under the EMTN Programme – 2025-2050 approved ROMGAZ rating Duro Felguera - oversubscr
Slide 18: Decarbonization Strategy 2025-2050
F. Regarding our strategic development, we remind that ROMGAZ Board approved the company’s Decarbonization Strategy for 2025-2050 on October 22. This strategy was developed in the context of European and national policies aiming to mitigate greenhouse gas emissions. The project was developed with th
Slide 19: Romgaz share performance on the Bucharest Stock Exchange
I. At the end of this presentation, I would like to highlight the strong performance recorded by Romgaz shares on the Bucharest Stock Exchange: the share price surged over 90% this year – due, among others, to the company’s development potential, solid position on the market and good perspectives fo
Slide 20: Thank you for your attention!
Thank you for your attention! 20