OPUS TIGÁZ lifts first-half profit by 29%

According to OPUS TIGÁZ’s half-year report, net revenue reached HUF 29.3 billion, up from HUF 27.6 billion in the same period a year earlier, a 6% increase. Profit after tax rose by 29%, from HUF 3.4 billion to HUF 4.4 billion.

The Hungarian gas distributor’s operating profit was effectively unchanged at HUF 6.3 billion. The company attributed the revenue increase to a higher distribution-tariff component, while material-related expenses grew by 17%.

Investment rose by 73%, from HUF 3.3 billion to HUF 5.7 billion. Of this, HUF 3.55 billion was linked to the gas network and more than HUF 2 billion to information-technology projects. The company operates roughly 35,000 kilometres of network serving more than 1 million users.

The figures matter for Hungary because network investment affects security of supply, orders for contractors and the cost of the energy transition. Our earlier coverage examined the EU’s winter gas-supply position and the relationship between renewable power and corporate costs.

The next corporate check will be OPUS GLOBAL’s consolidated report. It should show how much of the subsidiary’s higher profit after tax is reflected in the listed parent group’s results.