Naturelgaz increased its profit by 148% in the first quarter
Naturelgaz, a subsidiary of Global Investment Holdings, announced its financial results for the first quarter of 2022. Accordingly, Naturelgaz’s sales revenues increased by 268 percent compared to the same period of 2021 and amounted to TL 461.2 million. In the same period, the company’s sales volume increased by 41 percent to 67.9 million Sm3.
In the City Gas business line, Naturelgaz, which sells natural gas to natural gas distribution companies with the transportation method in order to meet the natural gas needs of districts and towns that are not connected to the pipeline network, increased its sales volume by 84 percent to 35.1 million Sm3 in the first quarter of the year. .
Naturelgaz’s gross profit in the first quarter of 2022 was 80.5 million TL. The company, which achieved a total gross profit of 137 million TL in 2021, realized 60 percent of its total gross profit for 2021 in the first quarter of 2022. The most important contribution to this growth was the significant reduction of the seasonality of sales thanks to the increase in city gas sales and thus the effective management of costs.
The company’s profit before interest, depreciation, and tax (EBITDA) increased by 192 percent compared to the same period of the previous year and reached 63 million TL. Net profit before tax, which was 0.3 million TL in the same period of the previous year, was 41.8 million TL in the first quarter of 2022.