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TURISM, HOTELURI, RESTAURANTE MAREA NEAGRA S.A. - EFO

2017 Q3 report

Release Date: 11/15/2017 6:36:45 PM

IRIS Code: AE517

2017 Q3 REPORT

In accordance with the ASF Regulation no.1 / 2006 and Law 24/2017

Report Date: 15.11.2017

Name of issuers: SC TURISM , HOTELURI , RESTAURANTE MAREA NEAGRA S.A.

Headquarters : Lavrion Street no. 29, Mangalia , Constanta County

Telephone/fax : 0241 75 24 52; 0241 75 55 59

Trade register No: J13/696/1991

Sole registration number at the Trade Register Office : RO 2980547

Subscribed and paid capital: 57.894.993,9 lei

Regulated market on which the issued shares are traded : Bucharest Stock Exchange

IMPORTANT REPORTING EVENTS:

Presentation of the financial report for the quarter ended September 30, 2017, in accordance with the Law 24/2017 and the ASF Regulation no.1 / 2006

A. Quarterly report September 30, 2017

1. Synthesis of Economic and Financial Indicators on 30 September 2017

1.a. STATEMENT OF FINANCIAL POSITION

Economic and financial indicator

Value at 30.09.2017 (lei)

Value at 31.12.2016 (lei)

Index 30.09.2017/ 31.12.2016 (%)

Total fixed assets of which:

232.189.778

233.751.395

99,33%

Tangible assets

211.823.851

213.085.899

99,41%

Intangible assets

334.208

486.094

68,75%

Investment property

16.086.093

16.350.751

98,38%

Financial assets

2.434.010

2.434.010

100,00%

Trade receivables and other receivables (including deferred tax assets)

1.511.616

1.394.641

108,39%

Total Circulating Assets of which:

28.702.007

25.965.721

110,54%

Inventories

474.871

617.337

76,92%

Trade receivables and other receivables

11.977.907

6.080.021

197,00%

Financial assets

0

0

0,00%

Cash and cash equivalents

3.237.630

7.337.535

44,12%

Non-current assets held for sale

11.272.213

11.007.555

102,40%

Accrued expenses

1.739.386

923.273

188,39%

TOTAL ASSETS

260.891.785

259.717.116

100,45%

Total Equity of which:

236.557.243

234.750.439

100,77%

Share capital

57.894.994

57.894.994

100,00%

Capital adjustment following adoption of IAS 29 for the first time

85.945.333

85.945.333

100,00%

Share premium

1.895.855

1.895.855

100,00%

Reserves

22.784.199

22.542.870

101,07%

Reserves from the application of IAS 29

16.745.901

16.745.901

100,00%

Revaluation differences

107.946.042

107.996.624

99,95%

Result for the period

5.743.664

4.455.307

128,92%

Retained earnings except retained earnings from the adoption of IAS 29 for the first time

52.911.185

52.860.602

100,10%

Retained earnings came following the application of IAS 29 for the first time

(102.691.275)

(102.691.275)

100,00%

Other elements of equity

(12.618.655)

(12.895.772)

97,85%

Total liabilities of which:

24.334.542

24.966.677

97,47%

Total long-term liabilities of which:

15.803.640

16.047.728

98,48%

Long-term loans

2.400.000

2.400.000

100,00%

Trade payables and other liabilities, including derivatives

33.781

208.539

16,20%

Provisions

409.128

478.458

85,51%

Deferred tax liabilities

12.960.731

12.960.731

100,00%

Total Current liabilities of which:

8.530.902

8.918.949

95,65%

Short-term loans

200.000

3.943.232

5,07%

Trade payables and other debts, including derivatives

7.390.715

4.603.177

160,56%

Deferred income

915.346

347.699

263,26%

Provisions

24.841

24.841

100,00%

Total Equity and Liabilities

260.891.785

259.717.116

100,45%

1.b. STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME

Economic and financial indicator

Value at 30.09.2017 (lei)

Value at 30.09.2016 (lei)

Index 30.09.2017/ 30.09.2016 (%)

Total Operational Income

36.148.196

35.186.844

102,73%

Income from accommodation

20.992.537

19.923.431

105,37%

Income from catering

10.123.237

10.387.559

97,46%

Rental income and other income included in turnover

3.408.207

3.765.325

90,52%

Income from disposals of tangibles and non-current assets held for sale

0

389.994

0,00%

Other income non-included in turnover (immobilized production, adjustments, amnesties, penalties, etc.)-less income from cancellation of provisions

1.624.215

720.535

225,42%

Total Operational expenses

30.313.984

32.623.190

92,92%

Expenses related to inventories

5.966.672

6.532.911

91,33%

Utility expenses

2.156.895

2.462.988

87,57%

Salaries, contributions, and other benefits

9.803.935

8.833.033

110,99%

Depreciation and amortization expenses

5.226.741

5.135.195

101,78%

Expenses related to disposed fixed assets and assets held for sale

1.378

108.090

1,27%

Expenses with other taxes and fees

2.550.131

3.474.879

73,39%

Other expenses (diminished with income from cancellation provisions)

4.608.232

6.076.094

75,84%

The result of operational activities

5.834.212

2.563.654

227,57%

Financial income

147.059

573.074

25,66%

Financial expenses

90.851

499.753

18,18%

Net financial result

56.208

73.322

76,66%

Total INCOME

36.295.255

35.759.918

101,50%

Total EXPENSES

30.404.835

33.122.943

91,79%

Result before taxation

5.890.420

2.636.976

223,38%

Current income tax expense

0

76.165

0,00%

The specific tax expense

146.756

0

0,00%

Deferred income tax expenses

0

0

0,00%

Deferred income tax income

0

0

0,00%

Result for continuing operations

5.743.664

2.560.811

224,29%

Total comprehensive income for the period

5.743.664

2.560.811

224,29%

2. The quarterly report on September 30, 2017 - the full version is available on its own website www.thrmareaneagra.ro and in the link below.

The quarterly report on September 30, 2017 is unaudited.

Chairman of the Supervisory Board,

ing.Mielu Dobrin

General Manager,

Narcisa Mosoiu

Commercial-Financial Manager,

Doina Parcalabu



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