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

Preliminary financial results 2017

Release Date: 2/15/2018 7:36:10 AM

IRIS Code: 4DD42

PRELIMINARY FINANCIAL RESULTS FOR 2017

Report Date: 15.02.2018

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

Statement of Comprehensive Income for the Financial Year Ended

31 December 2017

For the financial year ended at 31 December

Row

RON

(RON)

2016

2017

Continuing operations

Income from accommodation

1

20.160.054

21.016.132

Income from catering

2

10.617.463

10.128.015

Rental income

3

1.339.102

876.151

Other income included in turnover

4

2.825.792

2.459.878

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

5

10.919.946

1.382.160

Other income

6

1.926.362

2.795.169

Revenues associated with the costs of the completed production

7

0

0

Total Operational Income

8

47.788.719

38.657.505

Expenses related to inventories

9

6.843.670

6.139.255

Utility expenses

10

2.550.082

2.260.544

Employee benefits expense

11

10.259.533

11.084.218

Depreciation and amortization expenses

12

6.857.190

6.820.711

Expenses related to disposed fixed assets and assets held for sale

13

5.895.660

712.351

Other taxes

14

3.331.056

3.221.068

Expenses related to external services

15

6.391.764

5.173.070

Other expenses

16

162.965

97.900

Total Operational expenses

17

42.291.920

35.509.117

The result of operational activities

18

5.496.799

3.148.388

Financial income

19

627.569

460.791

Financial expenses

20

582.023

113.124

Net financial result

21

45.546

347.667

Result before taxation

22

5.542.345

3.496.055

Current income tax expense

23

1.116.307

0

Expenses with specific tax

24

0

293.512

Deferred income tax expenses

25

0

0

Deferred income tax income

26

29.269

0

Result for continuing operations

27

4.455.307

3.202.543

Total comprehensive income for the period

28

4.455.307

3.202.543

Statement of Financial Position for the Financial Year ended

31 December 2017

As at 31 December

Raw

(RON)

(RON)

2016

2017

Assets

Non-current assets

Tangible assets

1

Freehold land and land improvements

2

83.615.615

59.734.338

Buildings

3

108.679.480

107.042.895

Plant and machinery, motor vehicles

4

8.449.669

6.648.614

Fixtures and fittings […]

5

10.985.403

9.499.841

Tangible assets in progress

6

1.355.732

1.784.348

Intangible assets

7

Concessions, patents, licenses,

trademarks, similar rights and assets

8

484.270

294.955

Other intangible assets

9

1.824

101.498

Intangible assets in progress

10

0

0

Trade receivables and other receivables

11

453.572

453.572

Investment property

12

16.350.751

17.191.112

Investments accounted for using the equity method

13

0

0

Financial assets

14

2.434.010

2.434.010

Deferred tax assets

15

941.069

941.069

Total fixed assets

16

233.751.395

206.126.252

Current Assets

Inventories

17

617.337

442.128

Financial assets

18

0

0

Current tax assets

19

0

0

Trade receivables and other receivables

20

6.080.021

6.091.683

Accrued expenses

21

923.273

782.016

Cash and cash equivalents

22

7.337.535

4.439.406

Non-current assets held for sale

23

11.007.555

36.516.013

Total Current Assets

24

25.965.721

48.271.245

Total Assets

25

259.717.116

254.397.497

Equity

Share capital

26

57.894.994

57.894.994

Capital adjustment following adaption of IAS 29 for the first time

27

85.945.333

85.945.333

Share premium

28

1.895.855

1.895.855

Reserves

29

22.542.869

22.784.199

Reserves from the application of IAS 29

30

16.745.901

16.745.901

Revaluation differences

31

107.996.624

107.511.069

Result for the period

32

4.455.307

3.202.543

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

33

52.860.602

53.402.544

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

34

-102.691.275

-102.691.275

Other elements of equity

35

-12.895.772

-12.618.655

Total Equity

36

234.750.438

234.072.509

Liabilities

Long-term liabilities

Long-term loans

37

2.400.000

2.400.000

Trade payables and other liabilities, including derivatives

38

208.539

1.932.548

Employee benefits debts

39

0

0

Deferred income

40

0

0

Provisions

41

478.458

409.128

Deferred tax liabilities

42

12.960.731

12.960.732

Total Long-term liabilities

43

16.047.728

17.702.407

Current liabilities

Descoperiri de cont

44

0

0

Short-term loans

45

3.943.232

0

Trade payables and other debts, including derivatives

46

4.603.177

2.044.755

Deferred income

47

347.699

552.985

Provisions

48

24.841

24.841

Deferred tax liabilities

49

0

0

Total Current liabilities

50

8.918.949

2.622.580

Total Liabilities

51

24.966.677

20.324.988

Total Equity and Liabilities

52

259.717.116

254.397.497

The Preliminary Financial Statements for the year 2017 are available on our website at www.thrmareaneagra.ro and in the link below.

Please note that Preliminary Financial Statements for the year 2017 have not been audited.

Chairman of the Board,

Narcisa Mosoiu

Chief accounting officer,

Daniela Tudor



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