Societatea Nationala De Gaze Naturale Romgaz S.a. BVB:SNG
SNGN Romgaz : H1 2026 Report (SNG 20260813164929 Introduction to H1 2026 Report)
Source: MarketScreener
INTRODUCTION TO H1 2026 REPORT
IDENTIFICATION DETAILS ON REPORT AND ISSUER
Report based on Law No. 24/2017 on issuers of financial instruments and market operations (Article 67) and ASF Regulation (Financial Supervisory Authority) No.5/2018 on issuers of financial instruments and market operations (Annex No.14) for the six-month period ended on June 30, 2026 (H1 of financial year 2026)
GEO No.109 of November 30, 2011 on corporate governance of public enterprises, as subsequently amended and supplemented -art.55 para (1)
Report Date August 14, 2026
Company Name Societatea Naţională de Gaze Naturale "ROMGAZ" SA
Headquarters Mediaş, Piaţa Constantin I. Motaş, nr.4, 551130, Sibiu
Telephone/fax number 0040 374 401020 / 0040 374 474325
Web/E-mail https://www.romgaz.ro / [email protected]
Registration No. with the Trade J2001000392326 Register Office
European Unique Identifier (EUID) ROONRC.J2001000392326 Fiscal Code RO14056826
Legal Entity Identifier (LEI) 2549009R7KJ38D9RW354
Regulated market where the Bucharest Stock Exchange company's shares are traded
Subscribed and paid in share capital RON 3,854,224,000
Shares main characteristics 3,854,224,000 shares, each with a nominal value of RON 1
nominative, ordinary, indivisible shares, issued dematerialised and free tradable since November 12, 2013 as SNG
ROMGAZ1 Group PerformancesNational gas consumption recorded an increase of roughly 3% for the first 6 months of 2026 as compared to the similar period of last year. Therefore, Romgaz market share2 is 43.3%, by 4% lower than the share held in the similar period of last year.
1 Romgaz Group (ROMGAZ) consists of SNGN Romgaz SA ("the Company"/"Romgaz") as parent company and the subsidiaries SNGN Romgaz SA - Filiala de Înmagazinare Gaze Naturale Depogaz Ploiești SRL ("Depogaz"), Romgaz Black Sea Limited ("RBS") and Romgaz Trading SRL, owned 100% by Romgaz.
2 Market share is calculated as a weight of Romgaz deliveries in the total national gas consumption.
Societatea Naţională | T: 004-0374 - 401020 | 551130, Mediaş | Capital social: 3.854.224.000 lei |
de Gaze Naturale | F: 004-0269-846901 | Piața C.I. Motaş, nr.4 | CIF: RO 14056826 |
"ROMGAZ" SA | Jud. Sibiu - România | Nr.ord.reg.com: J2001000392326 |
Natural gas production for the first half of 2026, was 2,401.3 million m3, indicating a 3.39% production decline related to the production recorded in H1 2025.
Condensate production for the first half of 2026 increased by 10.31% as compared to the same period of 2025.
Romgaz electricity production reached 181.952 GWh, lower by 159.526 GWh than the production recorded in the similar period of 2025 (-46.71%).
Net consolidated profit recorded by Romgaz Group in H1 2026 was RON 1,735.9 million, 3.37% higher as compared to H1 2025, namely RON 56.66 million. Compared to Q2 2025, net profit for Q2 2026 increased by 4.74%.
Consolidated net profit per share (EPS) was RON 0.45.
Margins of the main profitability indicators for H1 2026: net consolidated profit margin (44.71%), consolidated EBIT (46.66%) and consolidated EBITDA (53.49%) continue to keep at high levels (H1 2025: 39.53%; 46.19% and 54.33% respectively).
Relevant financial results (consolidated)*RON million*
Q2 2025 | Q1 2026 | Q2 2026 | Δ Q2 (%) | Main Indicators | H1 2025 | H1 2026 | Δ H1 (%) |
1,867.7 | 2,137.9 | 1,745.1 | -6.56 | Revenue | 4,248.1 | 3,883.0 | -8.59 |
2,066.2 | 2,294.7 | 2,007.2 | -2.85 | Income | 4,514.1 | 4,301.9 | -4.70 |
1,198.9 | 1,171.9 | 1,211.4 | 1.04 | Expenses | 2,505.0 | 2,383.2 | -4.86 |
1.6 | 1.6 | 0.75 | -53.68 | Share of associates' result | 3.8 | 2.4 | -37.71 |
868.9 | 1,124.4 | 796.6 | -8.32 | Gross Profit | 2,012.9 | 1,921.0 | -4.57 |
140.7 | 151.3 | 33.8 | -75.94 | Profit Tax | 333.7 | 185.1 | -44.52 |
728.3 | 973.2 | 762.7 | 4.74 | Net Profit | 1,679.2 | 1,735.9 | 3.37 |
831.3 | 1,073.6 | 738.1 | -11.21 | EBIT | 1,962.3 | 1,811.7 | -7.67 |
999.1 | 1,212.6 | 864.6 | -13.46 | EBITDA | 2,307.9 | 2,077.2 | -10.00 |
0.19 | 0.25 | 0.20 | 4.74 | Earnings per share (RON) | 0.44 | 0.45 | 3.37 |
38.99 | 45.52 | 43.71 | 12.09 | Net Profit Rate (% from Revenue) | 39.53 | 44.71 | 13.10 |
44.51 | 50.22 | 42.30 | -4.97 | EBIT ratio (% from Revenue) | 46.19 | 46.66 | 1.01 |
53.50 | 56.72 | 49.55 | -7.39 | EBITDA ratio (% from Revenue) | 54.33 | 53.49 | -1.53 |
5,899 | 5,773 | 5,736 | -2.76 | Number of employees at the end of the period | 5,899 | 5,736 | -2.76 |
Summary of the Group's main indicators for H1 2026:
Total hydrocarbon production (natural gas and condensate) for the first six months of 2026 decreased by 3.2% as compared to the similar period of 2025;
Total income dropped in H1 2026 by RON 212.2 million as compared to H1 2025 (-4.7%), due to following factors:
the decrease by 10.04% of revenue from gas sales (RON 3,344.3 million in H1 2026 as compared to RON 3,717.6 million in H1 2025), generated by the 6.2% decrease of delivered gas quantities
as compared to H1 2025. The decrease of the regulated gas sale price from 120 RON/MWh as of April 2026 has negatively impacted the Group's revenue;
as regards the structure of gas deliveries in H1 2026, the Group sold 73.12% of the delivered quantities at regulated price (H1 2025: 77.26%). In Q2 2026, deliveries at regulated price represented 66.8% of the total delivered quantities (Q2 2025: 86.64%);
Q2 2026 was marked by the drop of delivered quantities by 10.2% compared to Q1 2026. Therefore, revenue from gas sales decreased by 17.45% in Q2 2026 as compared to Q1 2026 (RON 1,512.36 million in Q2 2026 as compared to RON 1,832.0 million in Q1 2026);
Revenue from storage services recorded a 2.97% increase (RON 283.7 million in H1 2026 as compared to RON 275.6 million in H1 2025), mainly due to higher income from withdrawal services (RON +18.56 million) and due to income from capacity booking (RON +5.53 million). Gas injection services into UGS's had a negative impact on the revenue (RON -15.91 million). On June 30, 2026, 85.58% of the operational storage capacity was booked, the UGS filling level was 48.59%;
Revenue from electricity sales (RON 148.9 million) represented 3.83% of the Group's total revenue on H1 2026. Revenue from electricity sales dropped in this period by 16.05% as compared to H1 2025, Romgaz Group generated electricity only in two months of the year due to technical problems of the current power plant (182 thousand MWh compared to 342 thousand MWh in H1 2025, representing a production diminishing of 46.7%). To meet contractual delivery obligations, the Group purchased electricity from the market;
In H1 2026 the Group received from the Ministry of Energy part of the amount due under GEO No.27/2022 and subsequent ones, which had a net positive effect on the result of RON 123.8 million following to the release at income of the impairment adjustment of this receivable recorded in 2025;
In H1 2026 the Group made investments of RON 2.55 billion (non-IFRS values) representing 86% of planned amounts. RON 2.02 billion were allocated to Neptun Deep.
Q2 2025 | Q1 2026 | Q2 2026 | Δ Q2 (%) | Main Indicators | H1 2025 | H1 2026 | Δ H1 (%) |
1,200.2 | 1,235.2 | 1,166.1 | -2.84 | Gross production (million m3) | 2,485.6 | 2,401.3 | -3.39 |
12,965.3 | 12,752 | 15,030 | 15.92 | Condensate production (tonnes) | 25,184.6 | 27,782 | 10.31 |
84.92 | 88.80 | 82.38 | -2.99 | Petroleum royalty (million m3) | 177.96 | 171.26 | -3.79 |
141.8 | 106.98 | 75.0 | -47.1 | Electricity production (GWh) | 341.5 | 182.0 | -46.7 |
35.9 | 1,426.7 | 44.7 | 24.5 | Total gas withdrawn from UGS (million m3) | 1,249.5 | 1,471.3 | 17.8 |
895.9 | 5.9 | 758.2 | -15.4 | Total gas injected in UGS (million m3) | 929.7 | 764.1 | -17.8 |
Note: the information is not consolidated, namely it contains transactions between ROMGAZ and Depogaz.
H1 2026 gas production was influenced by:
workover operations at low productivity or inactive wells, reactivating 89 wells with important flow rates;
ongoing rehabilitation projects of main mature gas fields;
optimisation of gas field exploitation;
investments to expand production infrastructure and to connect new wells to it;
production decline specific for production of hydrocarbon reservoirs.
National gas consumption estimated for H1 2026 was 59.7 TWh, roughly 3% higher than the consumption recorded in H1 2025, out of which about 12.9 TWh was import gas and the difference of 46.8 TWh is gas from domestic production. To cover national consumption, Romgaz delivered (on the domestic market) 25.8 TWh, representing 43.3% of the national consumption and 55.2% of the consumption covered with gas from domestic production.
Electricity production is shown in the table below, its trend was closely related to maintenance and repair activities of installations and equipment of the existing power plant.
*MWh*
2025 | 2026 | Variation | |
1 | 2 | 3 | 4=(3-2)/2x100 |
Q1 | 199,703 | 106,984 | -46.43 |
Q2 | 141,775 | 74,968 | -47.12 |
H1 | 341,478 | 181,952 | -46.71 |
Consolidated Board of Directors' Report for 1st Half Year 2026
Report on Review of Condensed Consolidated Interim Financial Statementsthe Condensed Consolidated Interim Financial Statements for the Six-Month and Three-Month Periods Ended June 30, 2026 (Unaudited), prepared in accordance with the International Accounting Standard 34 "Interim Financial Reporting" as adopted by the European Union
Statement in accordance with the provisions of art. 67 (2) c) of Law No. 24/2017 Chief Executive Officer, Răzvan POPESCU