A new composition of the Supervisory Board of Moldovagaz JSC has been elected, including Constantin Borosan and Sergiu Tofilat from Moldova.
According to the company's report, during the annual general meeting of shareholders of Moldovagaz JSC held on Friday, a new composition of the company's Supervisory Board was elected, which includes: Vitaly Markelov (Deputy Chairman of the Gazprom Management Committee; Sergey Kuznets (member of the Gazprom Management Committee, Head of Department); Kiril Neuimin (Head of Gazprom Management Committee); Dmitry Khandoga (Head of Directorate at Gazprom); Constantin Borosan (State Secretary of the Moldovan Ministry of Energy); Sergiu Tofilat (representative of the civil society). Also, Moldovagaz shareholders approved the auditing company for the next mandatory audit of the company's financial statements in 2023. During the meeting, the annual reports of the management bodies' activity and the financial report of Moldovagaz for 2022 were presented. Other details of the meeting are not given. It should be noted that the State Secretary of the Ministry of Energy, Constantin Borosan, was previously a member of the Supervisory Board of Moldovagaz JSC, while the economic expert Sergiu Tofilat was elected to the Supervisory Board of Moldovagaz JSC instead of Veaceslav Negruta, who has not been a member of the Supervisory Board since November 2022. Veaceslav Negruta is an economic advisor to the President of Moldova. As previously reported by InfoMarket, losses of Moldovagaz in 2022 amounted to 323.21 million lei, up 1.7 times compared to 2021 (190.84 million lei). According to the company's financial report for last year, the company's activity in 2022 resulted in an operating profit of 703.96 million lei, against a profit of 175.97 million lei a year earlier (a 4-fold increase). At the same time, the company recorded a loss of 1 billion 049.2 million lei from its financial activity in 2022, mainly due to the positive exchange rate difference resulting from the revaluation of debts to Gazprom and Factoring-Finance, formed in the previous period. A year earlier, the loss from the company's financial activity was 2.9 times less - 367.9 million lei. The profit from operations with long-term assets and extraordinary operations in 2022 amounted to 22.05 million lei against a profit of 1.09 million lei a year earlier. According to the materials of the financial statements, revenues from sales of Moldovagaz JSC in 2022 amounted to 16 billion 555.27 million lei, up almost 2.5 times compared to 2021 (6 billion 721.57 million lei). At the same time, revenues from natural gas sales also increased almost 2.5 times, from 6 billion 669.22 million lei to 16 billion 453.27 million lei, while revenues from services and works increased almost 2 times - from 48.96 million lei to 95.26 million lei. Overall, the cost of sales increased 2.8 times - from 5 billion 089.5 million lei to 14 billion 263.3 million lei. Long-term tangible assets increased by 10.7% - from 38 billion 244.6 million lei to 42 billion lei 344.2 million lei, total long-term assets - increased by 14.1% - from 7 billion 151.5 million lei to 8 billion 156.4 million lei, current assets increased by 29.7% - from 4 billion 426.2 million lei to 5 billion 738.6 million lei, while the total assets increased by 21.4% - from 11 billion 577.7 million lei to 14 billion 058.7 million lei. The total amount of the company's financial liabilities increased by 20.1% during the year, from 14 billion 017.8 million lei in 2021 to 16 billion 839.7 million lei in 2022. The structure of Moldovagaz JSC's liabilities is dominated by current liabilities, mainly accounts payable to external creditors for gas supplied (Gazprom, Factoring-Finance), which amounted to over 10.69 billion lei against 10.92 billion lei a year earlier. The authorized capital of Moldovagaz is equal to 1 billion 332.9 million lei. The largest shareholders of Moldovagaz are Gazprom (50% of shares), the Moldovan government (35.33%) and the Transnistrian administration (13.44%), which transferred its shares to the trust management of the Russian gas holding. // 28.07.2023 - InfoMarket.
