Naturelgaz Boosts Net Profit by Sixfold

Naturelgaz, operating in the transported natural gas market, has announced its financial results for the third quarter of 2024. The company increased its sales volume in the first nine months of the year to 215.2 million Sm3, reflecting a 24% increase compared to the same period last year. As it enters the last quarter of the year, Naturelgaz raised its net profit to 131.1 million TL, approximately six times higher than the same period last year, driven by the increase in sales volume.

Evaluating the financial and operational performance of Naturelgaz for the first nine months of 2024, General Manager Hasan Tahsin Turan stated, “We continue to see the successful results of our effective cost management measures taken in previous periods. Despite the application of inflation accounting, we have completed the nine months of the year with a net profit of 131.1 million TL.”

Naturelgaz, a subsidiary of Global Yatırım (IS:GLYHO) Holding A.Ş., announced its financial results for the third quarter of 2024. The company increased its sales volume from 173.4 million Sm3 in the first nine months of 2023 to 215.2 million Sm3 in the same period this year, marking a 24% increase. The share of the City Gas business within Naturelgaz’s total sales volume also continued to rise. The company’s LNG sales volume increased from 2 million Sm3 to 3.5 million Sm3, while bulk CNG sales rose by 14% compared to the same period last year, reaching 111.2 million Sm3.

In the first nine months of the year, Naturelgaz reported a net profit of 131.1 million TL, approximately six times higher than the same period last year, influenced by inflation accounting and the increase in sales volume. Naturelgaz's Earnings Before Interest, Tax, Depreciation, and Amortization (EBITDA) remained stable compared to the same period last year, at 682 million TL. The company’s gross profit increased by 1% year-on-year to 856 million TL, while its pre-tax profit surged by 138% to 215 million TL, thanks to efficient cost management and increased sales volume. The operating profit, which was 395 million TL in the first nine months of last year, decreased to 356 million TL due to increased depreciation expenses arising from the application of inflation accounting.

“We continue to see successful results,” said Hasan Tahsin Turan, General Manager of Naturelgaz, assessing the financial and operational performance for the first nine months of 2024. “In these times when operational costs continue to rise due to inflation, we are achieving successful results through effective cost management and investments that increase efficiency. Our increasing sales volume, especially in the City Gas segment, has been the most important factor supporting our financials. Consequently, we have completed the nine months of the year with significant net profit. As a reminder, in the first half of this year, we also increased our net profit by four times compared to the same period last year. We will continue our efforts in line with our strategic goals for successful financial results in the upcoming periods.”