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SIF MOLDOVA S.A. - SIF2

2016 Preliminary financial results

Release Date: 2/15/2017 7:59:18 PM

IRIS Code: B8894

Report date: February 15, 2017

Information according to: Law 297/2004, CNVM Regulation 1/2006

Issuer name: Societatea de Investitii Financiare MOLDOVA S.A.

Headquarters: 94C Pictor Aman street, Bacau

Phone/fax/e-mail: 0234576740 / 0234570062 / sifm@sifm.ro

Sole registration number at the Trade Register Office: 2816642

Trade Register Number: J04/2400/92

Share capital: 103,817,917.6 RON

Number of issued shares: 1,038,179,176

Nominal Value: 0.1 RON/share

Ownership structure: 100% private

Free float: 100%

CNVM/ASF authorization: 1902/30.08.1999

CNVM/ASF Register: PJR099SIIR/040001/14.12.2005

Regulated market on which the issued securities are traded:  Bucharest Stock Exchange, Premium category

International identifiers:

Bucharest Stock Exchange: SIF2

ISIN: ROSIFBACNOR0

Bloomberg: BBGID BG000BMN5F5

Reuters:  SIF2.BX

 

To:        BUCHAREST STOCK EXCHANGE

             FINANCIAL SUPERVISORY AUTHORITY

Financial Instruments and Investments Sector

 

Communication of the preliminary, unaudited financial statements for financial year 2016 – according to the financial reporting calendar 2017 (Current Report of January 10, 2017 and January 31, 2017).

 

SIF Moldova has drawn up the unaudited individual financial statements for the financial year 2016 according to the International Financial Reporting Standards (“IFRS”), in accordance with the requirements of the Norm 39/2015 for the approval of the accounting regulations compliant with the International Financial Reporting Standards, applicable to the entities which are certified, regulated and monitored by ASF / Financial Instruments and Investments Sector.     

 

The accounting regulations approved by Norm 39/2015 are applied along with the provisions of the Accounting Law no. 82/1991 republished with its later amendments and additions and with the International Financial Reporting Standards, thus being ensured a high degree of transparency and comparability of the financial statements.  

 

Objective

 

The objective of IFRS financial statements is to supply financial information on the reporting entity which are useful for the existent and potential investors, loaners and other creditors in their decisions regarding the provision of resources for the entity.  

 

Presentation of financial statements

 

SIF Moldova has adopted a presentation of financial statements based on liquidity, in case of the financial position and a presentation of income and expenses depending on their nature, within the global result status, this presentation method offering credible and relevant information.  

 

The unaudited IFRS statements are drawn up based on the fair value convention for the assets and financial debt at fair value through the profit and loss account and assets available for sale, with the exception of those for which fair value cannot be credibly ascertained. Other assets and financial debts, such as non-financial assets and debts are presented at amortised cost, re-evaluated value or historic cost. SIF Moldova has presented the equity instruments for which it has not been able to determine an assets market at their cost less possible depreciation adjustments, and the investments kept up to maturity (bonds, deposits) at their amortised cost. 

 

Accounting policies have been consequently applied for the period presented in the individual financial statements drawn up according to IFRS.   

 

Main elements of the unaudited IFRS financial statements  

 

(RON)

IFRS 2016

IFRS 2015

a. Financial position

 

 

Total assets

1,718,974,994

 1,457,697,072

Total debts

119,470,010

121,746,092

Equities

1,599,504,984

 1,335,950,980

b, Overall result

 

 

Net profit of the exercise    

123,298,020

 100,340,326        

Other global result elements

166,174,126

73,472,848

Global result corresponding to the period

289,472,146

173,813,174

 

Availability of unaudited preliminary financial statements IFRS 2016

 

The preliminary unaudited financial statements for the financial year 2016 according to IFRS can be consulted on the company’s website   www.sifm.ro/Reports/2017.

 

The conference call with investors and analysts for the presentation of 2016 preliminary financial statements will take place on February 17, 2017 starting at 16:00. Information on attending the event are available on SIF Moldova website (www.sifm.ro) and on BSE website (www.bvb.ro).

 

***

The preliminary unaudited financial statements can be subjected to modifications depending on the events occurred after the conclusion of the balance and the opinion of the financial auditor.   

 

Up to the present, within the unfinished audit mission, no material errors or other aspects that might have a significant impact on the presented financial statements have been identified.  

           

Costel Ceocea

President and CEO

 

Internal Control

Michaela Puscas

 

 



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