Added to YB: 2026-06-04
Pitch date: 2026-06-02
TGN.RO [neutral]
S.N.T.G.N. Transgaz S.A.
Author Info
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Company Info
S.N.T.G.N. Transgaz S.A., together with its subsidiaries, engages in the operation of natural gas transmission systems in Romania and the Republic of Moldova.
Market Cap
RON 16.3B
Pitch Price
N/A
Price Target
N/A
Dividend
N/A
EV/EBITDA
16.80
P/E
22.36
EV/Sales
4.77
Sector
Gas Utilities
Category
N/A
Transgaz (TGN Romania): a strong past is becoming a difficult comparison
TGN.RO (update): Q1 rev ~RON 1bn beat est despite YoY decline from inflated 2025 BRUA bookings; EBIT -20% to RON441m on higher D&A, costs, lower inflation-linked RAB adj. Volumes +14%, Vestmoldtransgaz strong. Stock outperformed 2026 but trades above historicals/peers; major capex delayed past 2028, slowing RAB growth & fewer catalysts. Valuation leaves little room for disappointment.
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