Naturelgaz’s EBITDA Reached TL 602.4 Million in the Third Quarter of 2022
Naturelgaz’s gross profit increased by 597 percent compared to the same period of the previous year and reached TL 659.4 million. The company’s EBITDA increased by 849 percent to TL 602.4 million. Operating in the off-grid natural gas market, Global Investment Holding A.Ş. subsidiary Naturelgaz announced its financial results for Q3 2022.
In the first nine months of 2022, Naturelgaz’s revenues increased by 495 percent compared to the same period of the previous year and reached TL 2,415.5 million. In the same period, the company’s total sales volume increased by 17 percent to 163.2 million Sm3.
In the Citygas business line, Naturelgaz sells off-grid natural gas to naturel gas distribution companies in order to meet the natural gas needs of districts and towns with no pipeline connection, the sales volume increased by 72 percent and reached to 44.3 million Sm3 in the first nine months of the year compared to the same period of the previous year. Another important contribution to the increase in total sales volume came from the Bulk CNG business line. Bulk CNG sales volume increased by 11% to 112.7 million Sm3.
Naturelgaz’s gross profit in the first nine months of 2022 increased by 597% to TL 659.4 million. Naturelgaz’s EBITDA for the first nine months of 2022 reached 602.4 million TL, an increase of 849% compared to the same period of the previous year. The decrease in seasonality thanks to the increase in Citygas sales volume, effective cost management, and the effects of price differentials due to the higher-than-expected increases in natural gas price index contributed significantly to the EBITDA growth. Net profit for the period, which was TL 20.7 million in the same period of last year, reached TL 503.5 million in the first nine months of 2022.
WE WILL CONTINUE TO STRENGTHEN OUR POSITION IN THE OFF-GRID NATURAL GAS MARKET AND
TO DIVERSIFY OUR OPERATIONS
Evaluating the financial and operational performance of the company in the first nine months of 2022, Naturelgaz General Manager Hasan Tahsin Turan said, “Our successful financial results indicate that we are reaping the fruits of our strong financial structure, that we strengthened with the strategic steps we have taken in previous years. In the first nine months of 2022, we achieved an EBITDA of TL 602.4 million and a net profit of TL 503.5 million and performed a significant growth. We will continue to strengthen our leading position in the off-grid natural gas market and diversify our operations.”