20% higher revenues for Distrigaz Sud

Distrigaz Sud, the gas distribution company, which has become part of the portfolio of the French utilities group Gaz de France, estimates to reach a turnover worth 3.14 billion RON (some 874 million euros) this year, a 20% growth against 2005. “The major reason behind the growth of the turnover is the increase in gas tariffs,” stated Jean François Carriere, chairman of the company”s Board of Directors. Distrigaz Sud posted net losses worth 1.4 million RON (0.38 million euros) at the end of last year, compared with a net profit standing at 6.2 million RON (1.52 million euros) reported for the 2004 financial year. “The loss is mainly the result of provisions being set up for uncertain receivables worth 54.5 million RON (15 million euros), but also of the difference between the acquisition price of gases and their final price on the market,” explained Carriere. The turnover of the gas distribution company stood at 2.6 billion RON (729 million euros), a 36% increase (in euros) against 2004. Company officials announced that they had started an investment programme worth 355 million RON (some 98.6 million euros), with more than half of these funds intended for the modernisation and renovation of the networks. The investments stood at some 264 million RON (73.3 million euros) in 2005. ZF