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PREFAB SA - PREH

Preliminary financial results 2017

Release Date: 2/15/2018 8:00:11 AM

IRIS Code: 964BB

 

Preliminary situation of financial position

on 31 December 2017

 

Name of indicators

31.12.2016

31.12.2017

 

1.      Fixed assets, out of which:

 

232.168.653

 

225.831.977

1.1  Intangible assets

337.401

146.519

1.2  Tangible assets

219.449.140

213.304.362

1.3  Investment property

2.929.980

2.930.000

1.4  Biological assets

12.263

11.227

1.5  Financial assets

9.439.869

9.439.869

 

2.  Current assets, total

out of which

 

42.632.737

 

43.876.684

2.1 Stocks

7.331.709

9.861.796

2.2 Trade receivables

34.712.970

33.162.466

2.3 Cash and cash equivalents

588.058

852.422

3.  Expenses in advance

750.940

748.087

     Total Assets

275.552.330

270.456.748

 

 

 

 

 

 

4. Own capitals

31.12.2016

31.12.2017

4.1  Subscribed and paid share capital

24.266.709

24.266.709

4.2  Adjustment of share capital (IAS 29)

0

0

4.3  Other components of the own capital

(366.662)

(366.662)

4.4  Share premiums

14.305.342

14.305.342

4.5  Revaluation reserves

123.203.224

112.777.937

4.6  Legal reserves

4.263.040

4.340.806

4.7  Other reserves

31.151.766

31.691.495

4.8  Own shares

0

0

4.9  Reported result (117)

9.552.175

9.552.175

4.10          Reported result (118)

0

0

4.11          Profit or loss of period

1.174.965

1.324.040

4.12          Distribution of profit

(70.822)

(77.766)

Total of own capitals

207.479.737

197.814.076

5. Subsidies for investments

6.523.394

6.085.266

6. Long-term liabilities, out of which:

19.190.715

17.772.411

1. Amounts due to credit institutions and other liabilities

2. Other debts

18.824.053

366.662

17.185.259

587.152

Current debts, out of which:

42.358.484

48.784.995

1.      Trade debts and other type of debts

11.915.494

19.406.630

2.      Amounts due to credit institutions

29.299.869

27.695.964

3.      Debts of current taxes

1.143.121

1.682.401

TOTAL LIABILITIES:

275.552.330

270.456.748

 

  

Chairman of the Board of Directors,                     Economic Manager,

Eng. Milut Petre Marian                                         Ec. Boitan Daniela

  

   

Profit and loss account - preliminary on 31 December 2017

Name of indicators

31.12.2016

31.12.2017

1.1 Net turnover

67.977.103

72.038.502

1.2 Changes in inventories of finished goods and production in progress

3.019.989

4.810.180

1.3 Incomes from production of tangible assets

5.796.374

8.425.217

1.4 Incomes from real estate investments

1.478

1.341

1.5 Others incomes

2.434.791

704.474

1.      OPERATING INCOMES - TOTAL

79.229.735

85.979.714

2.1 Raw materials and consumables used

34.383.586

39.876.203

2.2 Other external expenses (for energy and water)

12.804.158

13.075.339

2.3 Employee benefits expense

10.561.939

12.610.536

2.4 Depreciation and amortization expenses

6.135.761

6.343.237

2.5 Other expenses

12.472.978

10.895.499

2.      OPERATING EXPENSES - TOTAL

76.358.422

82.800.814

3.      OPERATING PROFIT OR LOSS

2.871.313

3.178.900

4. Financial incomes

234.580

206.628

5. Financial expenses

1.689.445

1.830.202

6. FINANCIAL PROFIT OR LOSS

(1.454.865)

(1.623.574)

7. Total incomes

79.464.315

86.186.342

8. Total expenses

78.047.867

84.631.016

9. GROSS PROFIT

1.416.448

1.555.326

10. Profit tax

241.483

231.286

11. NET PROFIT

1.174.965

1.324.040

 

Compared to 2016, in 2017 a slight revival in the construction materials market was felt, especially for the BCA product. Regarding the large prefabricated products or tubes, the market is still affected by the lack of budget investments and national infrastructure projects, the private sector being insufficiently developed to absorb the market offer.

 

In these conditions, the turnover registered on 31.12.2017 increased by 5.98% compared with the one registered on 31.12.2016.

 

The operating result on 31.12.2017 totalizes 3.178.900 Ron, compared with 2.871.313 Ron, resulted on 31.12.2016, in increase compared to the previous year, the appreciation being due to policies and strategies adopted in order to optimize costs and margins offered.

 

The financial result on 31.12.2017 totalizes -1.623.574 Ron, compared with -1.454.865 Ron achieved in 2016, increase due to the devaluation of the national currency compared with the European currency and interest increase.

 

The value of current assets and other assets decreased by 2.73%, from 232.168.653 Ron (on 31.12.2016) to 225.831.977 Ron (on 31.12.2017), decrease especially due to the revaluation of fixed assets as on 31.12.2017 but also to the amortization. The Company revalued the land and buildings existing in the patrimony on 31.12.2017, according to the provisions of the Fiscal Code.

  

The value of current assets increased by 2.92%, from 42.632.737 Ron (on 31.12.2016) to 43.876.684 Ron (on 31.12.2017), mainly due to the increase of the stock of raw materials and finished goods set up for the cold period.

 

Total debts increased by 8.14%, from 61.549.199 Ron (on 31.12.2016) to 66.557.406 Ron (on 31.12.2017), increase due to the accessing credit lines during the winter period, obtaining favorable maturities from suppliers, as well as advances received from customers.

 

Chairman of the Board of Directors,                     Economic Manager,

Eng. Milut Petre Marian                                         Ec. Boitan Daniela

 

 

PREFAB S.A.

Board of Directors Statement

 

PREFAB S.A. Board of Directors hereby declares that assumes responsibility for the preliminary financial statements made on 31.12.2017.

PREFAB S.A. Board of Directors, in respect of the preliminary financial statements made on 31.12.2017, confirm the following:

        a) The preliminary financial statements made on 31.12.2017 are prepared in accordance with International Financial Reporting Standards, as adopted by the European Union.

        b) The accounting policies used in preparing the preliminary financial statements made on 31.12.2017 are in accordance with applicable accounting regulations.

        b) The preliminary financial statements made on 31.12.2017 provide an accurate image of the financial position, financial performance and other information related to the business.

The company operates in conditions of continuity.

This statement is in accordance with the provisions of art. 30 by Accounting Law          no. 82/1991, republished.

 

 

Chairman of the Board of Directors,

Eng. Milut Petre Marian

 

 

 

 



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