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H1 2018 report

Release Date: 8/14/2018 8:15:11 AM

IRIS Code: 964B5

Financial results for H1 2018

Main financial indicators for SIF Banat-Crisana as at June 30, 2018:

  • Total assets value: RON 2,573 million
  • Net Asset Value: RON 2,382 million
  • Net profit: RON 51 million
  • Market capitalization: RON 1,309 million

SIF Banat-Crisana’s investment strategy targets the maximizing of portfolio performance, thus increasing the value of the managed assets and the investment income, under the prudential conditions established by Law no. 24/2017 and Regulation no. 15/2004. Throughout H1 2018, the assets under management were within the permitted legal limits.

Net asset value, the main performance indicator for the company, had a dithering progress during H1 2018, declining 8% vs. 2017-year end, but advancing over 8% vs. H1 2017. Thus, as at June 30, 2018, net asset value amounted to RON 2,382.15 million, representing RON 4.6035 per share.

SIF Banat-Crisana has under management a diversified portfolio, consisting of the following main categories of financial instruments: shares, bonds and fund units. The value of the stock portfolio (listed and unlisted shares) accounted for 80% of SIF Banat-Crisana’s total assets as at June 30, 2018, amounting to RON 1,929.4 million.

Income as at June 30, 2018, amounting to RON 80.79 million, is higher than in the same period of the previous year, mainly from dividend income and interest income.

Gain on investments in H1 2018 declined as compared to the previous year, the impact being mostly the effect of fair value measurement of assets classified in the category at fair value through profit or loss reclassified under IFRS 9 and IFRS 10. In the case of most of the assets in this category, the accruement existing at December 31, 2017, were included in retained earnings.

Expenses as at June 30, 2018, amounting to RON 7.82 million, are higher compared to H1 2017.

For H1 2018, SIF Banat-Crisana recorded a gross profit of RON 52.30 million, 47.8% above H1 2017, and a net profit of RON 50.79 million, 52.5% higher vs. H1 2017.

SIF Banat-Crisana ended H1 2018 with a market capitalization of RON 1,315.60 million, calculated at the closing price for all issued shares, and respectively RON 1,309.18 million calculated only for the outstanding shares.

The half-year report in full, prepared by SIF Banat-Crisana as at June 30, 2018 as per the provisions of Law no. 24/2017, of CNVM / ASF Regulations no. 15/2004 and no. 5/2018 and ASF Norm no. 39/2015, is made available to the public according to the financial calendar of the Company starting August 14, 2018 at 8:30 am, at the company's headquarters and on the Internet, at www.sif1.ro.

Further information can be obtained from SIF Banat-Crisana’s Investor Relations Dept., telephone / fax: +40257 304 446 / +40257 250 165, e-mail: investitori@sif1.ro


Please access the link here below to view the H1 2018 Report.



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