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SIF OLTENIA S.A. - SIF5

2018 Half-year financial consolidated results

Release Date: 9/28/2018 8:30:10 AM

IRIS Code: 22F60

Half-yearly report as of 30.06.2018 – Consolidated Financial Statements  

 

The consolidated financial statements have been established in accordance with the Rule no. 39/2015 for the approval of the accounting regulations according to the international financial reporting standards, applicable to authorized entities, regulated and supervised by the Financial Supervisory Authority from the Sector of Financial Instruments and Investments.

According to the provisions of the Law no.24/2017 regarding the financial instruments issuers and market operations and Regulation no. 1606/2002 of the European Parliament and European Union Council on 19.07.2002, the Company is required to prepare and submit the half-quarterly consolidated financial statements to the ASF, in compliance with the International Financial Reporting Standards adopted by the European Union (“IFRS”) as soon as possible after the end of the relevant reporting period, but no later than 3 months after this end.

Within the consolidation perimeter there were a number of 11 companies comprised to which the holding was over 50% from the voting rights, which were consolidated by the global integration method.

The11 companies represent a percentage of 15.24% in the total asset of the company and 15.99% in the net asset, respectively.

 The total market value of the Group's investment portfolio is 1,560,604,889 lei, meaning an increase of 3.43% compared to 31.12.2017. These also include securities in 4 investment funds in the amount of 2,908,430 lei (0.19% of the market value of the portfolio managed)

 As of June 30, 2018, the Group notably held shares in financial, banking and insurance companies with a 54.56% weight of the total market value of the portfolio, a slightly increasing as compared to 31.12.2017 when the same sector recorded a weight of 53.35%.

 

As of June 30th, 2018 the Group has the following structure of financial assets:

 

In lei

No.

com.

Market value 30.06.2018

No.

com.

Market value 31.12.2017

Capital investments

 

 

 

 

Listed companies

31

961,305,764

31

940,376,548

Unlisted companies

30

596,390,695

33

565,696,728

Fund units

4

2,908,430

4

2,789,494

Total financial assets

65

1,560,604,889

68

1,508,862,770

 

The investments held in companies whose securities are listed and traded on the Romanian capital market plus the investments held in the Banca Comerciala Romana on 30 June 2018 represent 93.66% of the fair value of the investments.

 

THE CONSOLIDATED STATEMENT OF THE GLOBAL RESULT

 

in lei

30 June 2018

30 June 2017

Incomes

   

Incomes from dividends

74,749,296

40,797,889

Incomes from interests

43,715

49,616

Other operational incomes

99,119,396

96,613,217

Net earning from exchange rate differences

(96,380)

(138,747)

Net earning from selling of financial assets

3,494,832

3,416,196

 

Expenses

 

 

Commissions and administration and supervision fees

(1,183,751)

(1,249,034)

Incomes from resuming provisions for risks and expenses

480,550

324,094

Other operational expenses

(105,918,881)

(99,822,410)

Profit before tax

70,688,777

39,990,821

Income tax

(4,842,779)

(2,925,386)

Net profit of the financial exercise

65,845,998

37,065,435

Other elements of the global result

 

 

Variation of the reserve from the tangible asset related, net to the deferred tax

 

 

Net variation of the reserve from the modification of the fair value of financial assets related at the fair value by other elements of the global result

43,793,662

135,516,740

Reserve related to the difference by modifying the fair value of related financial assets by other elements of the global result transferred into profit or loss, net of tax

(4,534,200)

(2,989,863)

Total global result afferent to the period

105,105,460

169,592,312

 

 

 

Related net profit

65,845,998

37,065,435

Company shareholders

65,784,506

36,935,958

Minority interest

61,492

129,477

 

 

 

Related global result

105,105,460

169,592,312

Company shareholders

105,490,358

169,257,775

Minority interest

(384,898)

334,537

 

 

 

Result per share

 

 

Basic

0.1134

0.0637

 

THE CONSOLIDATED STATEMENT OF THE FINANCIAL POSITION

in lei

30 June 2018

31 December

2017

Assets

   

Cash and cash equivalence

18,370,337

9,869,368

Deposits placed in banks

53,429,343

13,030,043

Assessed financial assets to the fair value by other elements of the global result

1,556,770,379

1,506,578,556

Financial assets at the fair value by profit or loss account

3,834,510

2,284,214

Credits and claims

38,127,037

29,563,961

Tangible assets

86,609,591

87,012,073

Real estate investments

93,203,002

93,360,493

Other assets

96,023,935

167,843,871

Total assets

1,946,368,134

1,909,542,579

Liabilities

 

 

Payment dividends

88,970,251

48,791,984

Taxes and charges

3,322,610

7,071,981

Liabilities with the deferral tax

134,321,030

126,534,254

Other liabilities

67,746,791

137,743,812

Total liabilities

294,360,682

320,142,031

Equities

 

 

Share capital

58,016,571

58,016,571

Adjustment of the share capital

103,806,500

103,806,500

Other elements of equities

640,808,133

619,775,291

Reserves from tangible assets related

38,901,297

39,562,594

Legal and statutory reserves

28,144,283

27,963,377

Other reserves

735,511,972

701,904,709

Result reported representing the undistributed profit or uncovered loss

(18,755,201)

(11,100,021)

Result reported due to IAS 29 over the share capital and reserves

(158,148,438)

(158,148,438)

Result reported due to IAS without IAS 29

127,081,911

103,510,150

Current profit

65,784,506

71,690,366

Total equities attributable to the mother company

1,621,151,534

1,556,981,099

Minority interest

From which:

30,855,918

32,419,449

Profit or loss of the financial exercise afferent to the interests not controlled

61,492

255,505

Other equities

30,794,426

32,163,944

Total equities

1,652,007,452

1,589,400,548

Total liabilities and equities

1,946,368,134

1,909,542,579

 

The Consolidated Financial Statements as of 30.06.2018 are not audited by the external financial auditor.

 

S.I.F. OLTENIA S.A. notifies the shareholders and investors that The Report of The Administration Board and Consolidated Financial Statements as of 30.06.2018 – preparedin accordance with the legal provisions – will be available to be accessed, as from 28.09.2018, 08:30 a.m., at the internet page:

 http://www.sifolt.ro/en/raportari/2018/cons/consolidate.html

 

The Report of The Administration Board and The Consolidated Financial Statements as of 30.06.2018 will be made available for those concerned – as from the same date – at the headquarters of S.I.F. OLTENIA S.A. from Craiova, 1Tufanele Street.

 

as well as the link below:

 

Associate Professor PhD. Ec. Tudor CIUREZU

Chairman / General Manager

  

Ec. Viorica Balan

Conformity Officer

 

 



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