Romgaz - In line Q3 results and earnings upgrade driven by surging gas prices
Romgaz posted Q3/21 net income of HUF 395 mln (+180% YoY) on net sales RON
1.25 bln (+72% YoY), in line with our estimates. Sales and net income were more or less in
line with our estimate. Upstream represented 87% of total revenue and 64% of
consolidated net income. Cash and cash equivalents amounted to as of September 30,
2021 of RON 2.41 bln, or RON 6.3 a share accounting for 18% of mrk cap.
Concorde Securities Ltd. is Hungary’s leading independent company engaged in investment banking activities. It provides its clients with integrated financial services, including securities trading, research, corporate financing advisory, capital market transactions, wealth management and investment advisory. The operational management of the company is the responsibility of the CEO, while the owners/managers (who control one-third of the company through their shares and options) are in charge of its strategic governance. Concorde Securities Ltd. is a member of the Budapest, Frankfurt, Warsaw and Bucharest stock exchanges, as well as of the Hungarian Association of Investment Service Providers.
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