Romanian natural gas producer Romgaz reported a slight increase in profit for the first quarter of 2026, with lower operating costs cited as a key support. The results were released for the January–March period, during which the company also saw weaker revenues and declining production levels. The group’s consolidated performance shows a mix of higher bottom-line earnings alongside softer operating metrics.
Net profit for the quarter was approximately €186.8 million, up 2.3% year-on-year. Total revenue fell by just over 10% to around €411 million, while operating expenses decreased by 10.3% to approximately €224.6 million.
EBITDA and EBIT fall despite improved net profit
Even with higher net profit, profitability indicators moved lower compared with the same quarter of the previous year. EBITDA declined by 7.4% to €232.4 million. EBIT decreased by 5.1% year-on-year to €205.5 million.
The figures indicate that cost reductions did not translate into higher earnings at the EBITDA and EBIT levels during the period. The company’s reported operating performance therefore reflected pressure on core profitability measures.
Natural gas output and power generation decline in Q1
Production data pointed to a downward trend across both gas and electricity activities. Natural gas output reached 1.235 billion cubic meters, down 3.9% versus the prior year’s first quarter. Electricity generation fell by 46.4% to 106.98 GWh.
The sharp drop in generation highlighted reduced activity in the power segment relative to the same period a year earlier. This aligns with the broader picture of declining operational volumes.
Balance sheet expands and Azomureș talks advance
Total assets rose to just over €5 billion by the end of March, compared with €4.8 billion at the end of 2025. The balance sheet expansion was reported alongside operational contraction in production and generation figures during Q1.
Romgaz also advanced strategic initiatives during the month, reaching a preliminary agreement with fertilizer producer Azomureș. The parties discussed a potential acquisition of Azomureș operational business activities, indicating possible diversification and downstream integration within Romgaz’s portfolio.
