Energean Plc (EERGF), a hydrocarbon and natural gas company, on Thursday recorded an increase in earnings for the full year, helped by improved sales. The company has also cited the absence of compensation this year as a reason for increased revenue.
For the 12-month period to December 31, 2024, Energean posted a pre-tax income of $450.591 million, higher than $314.609 million, recorded last year. Net profit stood at $346.718 million as against the prior year's $242.809 million.
Operating profit moved up to $622.806 million from $481.240 million a year ago. Revenue was $1.239 billion, up from the previous year's $939.836 million.
Revenue from the sale of gas stood at $838.881 million, higher than $679.410 million last year. The sale of hydrocarbon liquids generated revenue of $400.230 million as against $265.355 million a year ago.
Compensation to customers was $0 million, compared with $4.929 million in 2023. Last year, the company paid compensation to the counterparties following delays in the gas supplies from the Karish project. The compensation was deducted from the revenue.
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