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TURBOMECANICA S.A. - TBM

2017 H1 financial results

Release Date: 7/25/2017 9:01:40 AM

IRIS Code: 467AB

Our Reference: 29 Date: 25/07/2017

 

SEMESTRIAL REPORT

ACCORDING TO THE LAW 24/2017 ARTICLE 65 AND CNVM

REGULATION NO.1/2006

 

REPORT NO:     DATE : 30 JUNE 2017

 

COMPANY TURBOMECANICA SA

REGISTERED OFFICE: 244 Iuliu Maniu Blv.,District 6, Bucharest ROMANIA.

TRADE REGISTERY NUMBER AND INCORPORATION DATE: J40 /533 /1991 ;

FORM OF OWNERSHIP: Majority private;

MAIN ACTIVITY: 3030 Manufacturing of Aircrafts and Spaceships;

SOLE REGISTRATION CODE: RO3156315;

REGULATED MARKET ON WHICH THE SECURITIES ISSUED ARE TRADED:

Bucharest Stock Exchange;

CALLED-UP AND PAID IN SHARE CAPITAL: 36.944.247,50 RON

 

 

1. ECONOMIC AND FINANCIAL SITUATION

 

A. Balance Sheet Statement: assets that represent at least 10 % of total assets; cash and other liquid cash; reinvested earnings; total current assets; company’s debt situation; total current liabilities; they are shown in semestrial reporting forms, balance sheet at 30 June 2017, attached to this report.

 

B. Financial Results Report ( profit and loss): net sales; gross sales; items of expenditure with a percentage of at least 20 % in net sales or gross income; risk provisions for various expenses; reference to any sale or closing for a field of activity within the past six months or which follows to be carried out in the next six months; they are found in the same document attached.

 

C. Cash flow: all changes in the level of cash within the core business, of investments and financial activity, the level of cash at the beginning and at the end of the period are presented in the attached financial statements.

The financial statements at 30 June 2017 above-mentioned are financially un-audited.


 

 

2. COMPANY’S ACTIVITY ANALYSIS

 

2.1 Tendencies, elements, events or uncertainty factors that affect or could affect liquidity:

    There were no trends, items, events or significant uncertainty factors that could affect the liquidity. An important liquidity risk factor is the continuing recession of the aeronautics manufacturing market.

 

2.2 The effects on the financial statements of all capital expenditures, current or anticipated, over the financial situation;

 

In the first six months of 2017 Turbomecanica S.A. has achieved an operating income in the amount of 46.536.048 RON, and operating expenses in the amount of 39.100.125 RON.

If we analyze the evolution of operating revenues we notice an increase in comparison to the same period of the previous year (30.06.2015) by 36,16 %, the company recorded net profit of 6.825.076 RON, at the end of the first half of 2016.

The shared Capital of the company is 49.207.267 RON

 

2.3 Events, transactions, economic changes that significantly affect the revenues generated by the main activity: Turbomecanica S.A. operates in terms of business continuity and does not intend to liquidate its activities.

This result was achieved given that the company realized and operating income in the amount of 46.536.048 RON and operating expenses in the amount of 39.100.125 RON.

The highest percentage of this revenue has been achieved from manufacturing activities specific to company’s activity profile.

 

3.        CHANGES AFFECTING CAPITAL AND MANAGEMENT OF THE COMPANY

 

3.1Cases in which Company TURBOMECANICA S.A. was unable to respect its financial obligations: There were no such cases. The Company has complied with all its financial obligations regarding the payment terms to suppliers and significant creditors.

 

3.2Amendaments to the rights of the securities holders issued by Company TURBOMECNICA S.A. : There were no changes in the reporting period.

 

3.3Issues that were discussed, by the security holders : In the period under review the Company held the Ordinary General Meeting of Shareholders dated 25 April 2017 in which it adopted the decision no.1 /25 April 2017.

The issues debated as well as the decisions adopted have been recorded in this year’s current reports.

 

4.        SIGNIFICANT TRANSACTIONS

 

4.1 Major transactions concluded by the issuer with persons acting in concert with or involving these persons in the relevant time period: not applicable


 

5 ANNEXES:

 

 

- Management report as at                                 30 June 2017 ;

 - Financial statement report as at                      30 June 2017;

 - Financial results report as at                           30 June 2017;

 - Economic and financial indicators as at         30 June 2017;

- Explanatory notes                                            30 June 2017;

- Management statement;

 

The H1 2017 Financial Results Report is available on Company’s websitewww.turbomecanica.ro and  at the following link:

 

 

PRESIDENT- GENERAL MANAGER

VIEHMANN RADU                            

 

                                                                        FINANCIAL & COMMERCIAL DIRECTOR

ANGHEL CLAUDIA

 



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