Romgaz sees turnover slightly up

Romgaz, one of the most valuable state-owned companies, is set to end 2010 with a slight turnover increase amid higher volumes of sold gas, as the company's stock is likely to start being traded in December.

"For 2010 we have only preliminary data and on their basis we estimate the following: turnover of 3.39bn RON (around 808.6m euros) and net income of 508.5m RON (121m euros)," says Lucian Stancu, deputy general manager of Romgaz.
Thus, against 2009, Romgaz turnover rose by around 6% in RON. On the other hand, though, the company's income fell by around 12% from 2009.
According to a document obtained by Mediafax, a Romgaz minority stake is likely to be listed on the Stock Exchange this year, more exactly in December.
According to the Most Valuable Companies of Romania Ranking drawn up by ZF, Romgaz' market value last year revolved around 2.5bn euros, on the basis of 2009 financial figures, with the stake due to be floated standing at 15%.