The losses of Moldovagaz in 2021 amounted to 190.84 million lei, decreasing by 3.5 times compared to 2020 (676.84 million lei).
This is stated in the company's financial report for the past year, which was approved at the regular annual general meeting of Moldovagaz shareholders. The financial statements indicate that, following the results of the company's activities last year, the operating profit amounted to 175.97 million lei against a loss of 683.88 million lei a year earlier. At the same time, losses from financial activities amounted to 367.9 million lei due to the positive exchange rate difference as a result of the revaluation of the debt to Gazprom and Factoring-Finance, which was formed earlier. From operations with long-term assets and emergency operations, the profit amounted to 1.09 million lei. As a result, in 2021, the losses of Moldovagaz amounted to 190.84 million lei. According to the financial statements, sales revenues of Moldovagaz in 2021 amounted to 6 billion 721.57 million lei, an increase of 48.6% compared to 2020 (4 billion 522.54 million lei). At the same time, income from the sale of natural gas increased by 48.3% - from 4 billion 495.64 million to 6 billion 669.22 million lei, and income from the provision of services increased by more than 1.9 times - from 26.9 million up to 52.35 million lei. In particular, income from gas transportation services decreased by 1.8 times - from 23.65 million to 13.11 million lei, and from other services - increased 12 times - from 3.26 million to 39.24 million lei. In general, the cost of sales increased by 1.6 times - from 3 billion 137.3 million to 5 billion 089.5 million lei. Long-term tangible assets increased by 13% - from 33 million 852.2 thousand to 38 million 244.6 million lei, total long-term assets increased by 14.8% - from 6 billion 230.6 million to 7 billion 151.5 million lei, current assets decreased by 15.8% - from 5 billion 253.9 million to 4 billion 426.2 million lei, and in general assets increased by 0.8% - from 11 billion 484.5 million to 11 billion 577.7 million lei. The total amount of the company's financial liabilities for the year increased by 1.33 billion lei (+10.5%) - from 12 billion 687.9 million lei in 2020 to 14 billion 017.8 million lei. The structure of liabilities of Moldovagaz is dominated by current liabilities, mainly accounts payable to external creditors for the supplied gas (Gazprom, Factoring-Finance), which amounts to almost 10.92 billion lei against 9.95 billion lei a year earlier. According to the press service of the company, in general, the Moldovagaz group received a profit from operating activities in the amount of 375.5 million lei in 2021. Herewith, financial losses amounted to 364.4 million lei, as a result of which, last year, the Moldovagaz group received a consolidated profit before tax in the amount of 11.1 million lei. As part of the general meeting of shareholders of Moldovagaz, the reports of the Management Board, the Audit Commission and the Supervisory Board for 2021 were also approved, members of the commission and the Council were elected, and other issues were considered. The authorized capital of Moldovagaz JSC is 1 billion 332.9 million lei. The largest shareholders of the Moldovagaz company are Gazprom (50% of shares), the Moldovan government (35.33%) and the administration of Transnistria (13.44%), which transferred their shares to trust management of the Russian gas holding. // 31.05.2022 — InfoMarket
