Naturelgaz Boosts Net Profit by Sixfold While Continuing to Increase Sales Volume

Naturelgaz, which operates in the portable 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, marking a 24% increase compared to the same period last year. As it enters the final quarter of the year, Naturelgaz raised its net profit to 131.1 million TL, achieving nearly a sixfold increase compared to the same period last year, driven by the growth in sales volume.

Evaluating Naturelgaz's financial and operational performance for the first nine months of 2024, General Manager Hasan Tahsin Turan stated, “We continue to see successful results from the steps we have taken regarding effective cost management in previous periods. Despite the application of inflation accounting, we completed the first 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., reported its financial results for the third quarter of 2024. The company increased its sales volume to 215.2 million Sm3 in the first nine months of 2023, a 24% rise from the 173.4 million Sm3 recorded in the same period of the previous year. The share of the City Gas segment in total sales volume continued to grow, while LNG sales volume increased from 2 million Sm3 to 3.5 million Sm3. Additionally, bulk CNG sales rose by 14% year-on-year, totaling 111.2 million Sm3.

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

“Continuing to See Successful Results”
General Manager Hasan Tahsin Turan assessed the financial and operational performance of Naturelgaz for the first nine months of 2024, stating, “In these days when operational costs are continuing to rise due to inflation, we are seeing successful results with effective cost management and investments that enhance efficiency. Our increasing sales volume, especially in the City Gas segment, has become the most crucial factor supporting our financials. Consequently, we have achieved significant net profit as we complete the first nine months of the year. As a reminder, we had also increased our net profit fourfold in the first half of this year compared to the same period the previous year. We will continue our efforts in the upcoming periods in line with our strategic objectives to achieve successful financial results.”