Market News


STIROM SA - STIB

2017 Q3 report

Release Date: 11/15/2017 7:01:26 PM

IRIS Code: 120AF

 

Third Quarter Report at September 30, 2017, according to RNSC Regulation No. 1/2006

Report date: November 15, 2017

Name of the issuing company: STIROM S.A.

Registered office: 45 Theodor Pallady Blvd, 3 district, Bucharest

Phone/fax number: + 4 021/201.85.00, + 4 021/3345.10.23

Sole Registration Code with the Trade Register Office: 335588

Order Number in the Trade Register: J40/10/1990

Share capital: RON 40.696.730,00

Regulated market on which the issued securities are traded: Bucharest Stock Exchange S.A.

  

1.Presentation of the important events occurred and the relevant period and those impact on the financial position of the issuer and its branches.

During the period 1 January 2017-30 September 2017 did not take place important events significant affecting position and financial performance of the Company.

 

The financial statements for the third quarter of 2017 were not audited.

 

2.General description of financial position and the performances of the issuer and its branches in the relevant period

 

 The financial accounting situation as of September 30, 2017 is as follows:

    

 

 

STATEMENT OF THE FINANCIAL POSITION 30.09.2017

     

 

 

 

 

 

 

FINANCIAL PERIOD

FINANCIAL PERIOD

 

 

31/12/2016

30/09/2017

ASSETS

 

 

 

 

 

 

 

Non-current assets

 

 

 

 

 

 

 

Tangible assets

1

341.633.827

318.761.556

Intangible assets

2

434.383

493.447

Goodwill

3

0

0

Other financial assets

4

6.000

6.000

Deferred tax assets

7

3.415.115

3.415.115

Other non-current assets

10

246.504

232.113

 

 

 

 

Total non-current assets

 

345.735.829

322.908.231

 

 

 

 

Current assets

 

 

 

 

 

 

 

Inventories

11

40.383.171

40.874.164

Trade and similar receivables 

12

145.015.972

128.384.538

Amounts receivable from group entities

13

4.544.385

43.933.081

Prepayments and other receivables

16

4.315.417

2.768.677

Cash and cash equivalents

17

8.117.860

49.150.859

Total current assets

 

202.376.805

265.111.317

 

 

 

 

TOTAL ASSETS

 

548.112.634

588.019.548

 

 

 

 

EQUITY AND LIABILITIES

 

 

 

 

 

 

 

Equity and reserves

 

 

 

 

 

 

 

Paid in capital

18

40.696.730

40.696.730

Share capital adjustments

18

46.310.698

46.310.698

Share premium

19

14.162.234

14.162.234

Retained earnings

21

91.764.764

102.955.297

Legal reserves

22

8.139.346

8.139.346

Revaluation reserves

23

14.448.529

14.448.529

Other capital reserves

24

77.883.727

96.800.563

Other capital components

25

0

0

 

26

0

0

 

 

 

 

Total capital

 

293.406.028

323.513.397

 

 

 

 

Long-term liabilities

 

 

 

 

 

 

 

Interest-bearing loans

27

79.547.660

74.262.207

Financial lease

28

3.080.844

1.857.202

Other long-term liabilities

31

0

0

Government grants

33

36.808.313

33.286.906

Deferred tax liabilities

34

0

0

Provisions

46

1.332.412

1.594.942

Total long-term liabilities

 

120.769.229

111.001.257

 

 

 

 

Current liabilities

 

 

 

 

 

 

 

Trade and similar obligations 

35

27.512.467

49.399.576

Amounts payable to group entities

 

 

80.480.559

Short-term loans

39

84.705.919

114.997

Current portion –Interest-bearing loans

40

6.913.241

7.034.474

Current portion – financial lease

41

1.598.833

1.625.626

Current portion –Government grants

41.1

4.695.209

4.695.209

Income tax payable

44

1.319.818

2.355.247

Other current liabilities

45

7.191.888

7.799.205

Provisions

 

 

0

Total current liabilities

 

133.937.377

153.504.895

 

 

 

 

CAPITAL AND LIABILITIES – TOTAL

 

548.112.634

588.019.548

 

 

 

 

 

General Manager,

   

Attorney,

Nikolaos Barlagiannis

   

Ioana Zorila

     

Financial Manager

 

 

 

COMPREHENSIVE INCOME  01.01.2017-30.09.2017

 

 

Description

FINANCIAL PERIOD

FINANCIAL PERIOD

 

Sep-16

Sep-17

 

 

 

Revenues from sale of goods

218.284.361

205.858.381

Discounts

-1.865.215

-1.842.398

Net sales

216.419.146

204.015.982

 

 

 

Cost of sold goods

-148.623.194

-152.683.554

Gross profit

67.795.952

51.332.428

 

 

 

Other operating income

4.531.986

3.798.647

Administrative, sales and distribution expenses

-34.790.673

-14.177.612

Other operating expenses

-7.650.188

-499.311

Operating income

29.887.078

40.454.153

Financial expenses

-6.413.007

-4.761.957

Financial income

3.672

634.171

Gains /losses on exchange rate differences - net

-384.897

-307.598

Profit before tax

23.092.845

36.018.768

Current income tax

0

0

Deferred income tax (expense-/revenue+)

0

0

Profit tax expense

-4.055.245

-5.911.401

Profit for the year

19.037.600

30.107.367

Earnings per share

 

 

Basic profit for the year attributable to the shareholders

 

 

 

 

 

Profit for the year

19.037.600

30.107.367

Other comprehensive income

 

 

 

0

 

 

0

                                           -    

Total comprehensive income for the year, net of tax

19.037.600

30.107.367

 

 

General Manager,

   

Attorney,

Nikolaos Barlagiannis

   

Ioana Zorila

     

Financial Manager

 

 

 

Economic and financial indicators analysis

   
     

 

9 Months 2016

9 Months 2017

1. Liquidity indicators

 

 

Current liquidity indicator

1,26

1,80

Immediate liquidity indicator

1,05

1,53

 

 

 

2. Risk indicators

 

 

Gearing ratio

14,31%

23,53%

Interest coverage indicator

5,35

9,34

 

 

 

3. Activity indicators

 

 

Inventories rotation

0,82

0,92

Days of storage

82,46

73,45

Receivables rotation

179,42

176,66

Payables rotation

48,00

67,24

Fixed assets rotation

0,61

0,64

Total assets rotation

0,37

0,35

 

 

 

4.Profitability indicators

 

 

ROE

7,95

10,09

Gross margin on sales

31,33

25,16

Earnings per share

1,1695

1,849

 

 

F10 - pag. 1 BALANCE SHEET FOR 30 SEPTEMBER  2017                                                      - lei -

       

Description

 

 row nr.

Balance as at:

Balance as at:

 

 

 

30.09.2017

01.01.2017

A

 

B

 

 

A.NON-CURRENT ASSETS

 

 

 

 

I. INTANGIBLES

 

 

 

 

1. Development expenses

1

01

0

0

2. Concessions rights, patents, licenses, trademarks and other similar rights and other intangible assets

2

02

493.447

434.383

3. Goodwill

3

03

0

0

4. Advances and intangible assets in progress

4

04

0

0

TOTAL (rows 01 to 04)

 

05

493.447

434.383

II. PROPERTY, PLANT AND EQUIPMENT

 

 

 

 

1. Land and buildings

5

06

123.739.871

125.193.640

2. Technical equipment & machinery

6

07

194.371.509

207.202.675

3. Other equipment & furniture

7

08

309.916

3.769.037

 

 

 

0

0

4. Advances & tangible assets in progress

9

10

340.260

5.468.474

 

10

11

0

0

TOTAL (rows 05 to 11)

 

12

318.761.556

341.633.827

III. BIOLOGICAL ASSETS

11

13

0

0

IV. FINANCIAL INVESTMENTS

 

 

 

 

1. Shares in subsidiaries

12

14

0

0

2. Loans to subsidiaries

13

15

0

0

3. Investments in associates

14

16

0

0

4. Loans given to associates

15

17

0

0

5. Investments held as non-current assets

16

18

6.000

6.000

6. Other loans

17

19

232.113

246.504

TOTAL (rows 11 to 19)

 

20

238.113

252.504

NON-CURRENT ASSETS – TOTAL (rows 5+12+20)

 

21

319.493.116

342.320.714

B.CURRENT ASSETS

 

 

 

 

I. INVENTORIES

 

 

 

 

1. Raw materials and consumables

18

22

13.912.816

14.812.634

2. Work in progress

20

23

0

1.740.458

3. Finished goods and merchandise

21

24

26.961.347

23.830.080

4. Advances for inventory acquisition

23.1

25

56.729

1.761.887

TOTAL (rows 22 to 25)

 

26

40.930.893

42.145.058

II. RECEIVABLES (amounts receivable in a period above one year will be disclosed separately for each item)

 

 

 

 

1. Trade receivables

22

27

128.384.538

138.856.732

2.Advances

23.2

28

0

9.654

3. Receivables from group entities

24

29

43.933.081

4.544.385

4. Receivables from associates

25

30

0

0

5. Share capital called up but not paid up

26

31

0

0

6. Other receivables

27

32

6.058.313

5.651.268

 

28

33

0