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UZTEL S.A. - UZT

2017 Preliminary financial results

Release Date: 2/15/2018 8:55:10 AM

IRIS Code: DE3D7

 

 

TO

 

Financial Supervisory Authority

Bucharest Stock Exchange

Date of report
: 15.02.2018
Name of the company: UZTEL S.A.
Headquarters: Ploiesti, Mihai Bravu no. 243, Prahova county
Phone  / fax: 0372-441.108 / 0244-521.181
Number and date of registration at ORC: J29 / 48/1991
Tax code: RO1352846, Subscribed and paid up share capital: 13,413,647.50 lei
Regulated market on which the issued securities are traded: BVB, standard category, UZT symbol

 

 

REPORT ON PRELIMINARY FINANCIAL RESULTS
FOR THE YEAR 2017
UNAUDITED

 

The individual preliminary financial statements have been prepared in accordance with the International Financial Reporting Standards adopted by the European Union ("IFRS") for the financial year ended December 31, 2017.


The individual IFRS financial statements are prepared in accordance with the requirements of Order 881/2012 and the provisions of OMFP 2844 / 12.12.2016 for the approval of accounting regulations in line with the International Financial Reporting Standards adopted by the European Union ("IFRS") applicable to companies whose securities are admitted to trading on a regulated market with subsequent amendments and additions.

 

Presentation of financial statements

 

1.    The statement of financial position as a component part of the annual financial statements for the year ended 31 December 2017 includes information for the year ended 31 December 2017 and the end of the financial year at 31 December 2016 (Annex 1). 

2.    The statement of comprehensive income comprises two columns of information for the year ended 31 December 2017 and the financial year ended December 31, 2016 (Annex 2) .

 

       The preparation of financial statements in accordance with IFRS requires management to use professional judgments, estimates and assumptions that affect the application of accounting policies and the reported amount of assets, liabilities, income and expenses.
      

       The actual results may differ from the estimated values. The estimates and assumptions underlying them are periodically reviewed. Revisions of accounting estimates are recognized in the period in which the estimate was revised and in future periods affected.

       Accounting policies have been applied consistently over all periods presented in the separate financial statements prepared in accordance with IFRSs.
perioadelor prezentate in situatiile financiare individuale preliminare intocmite in conformitate cu IFRS.

 

       Advantages of applying IFRS

       The preliminary financial statements prepared in accordance with IFRS have as final objective the accurate presentation of the individual overall result, the individual financial position, the changes in the equity and the cash flows of UZTEL SA at the end of the financial year 2017.

       The individual financial statements under the IFRS audited will be presented on 27.04.2018, according to the financial reporting calendar for the current year
.

 

           

             

 

 

        General Director                                                               Economic Director         

        Eng. Zidaru Ion                                                                 Ec. Popescu Ileana                   

 

 

Head of General Accountancy Service

        Ec. Ilie Marian

 

 

 

Situation of the Financial Position - preliminary

 

 

 

Annex no. 1

 

Reference

At December 31,  2017

Line.

(RON)

(RON)

IAS 1.10(a) 113

2017

2016

 

Assets

 

Fixed assets

IAS 1.54(a)

Tangible assets

BS01

46.995.453

51.773.835

 

Land and landscaping

BS02

16.602.789

16.764.099

 

Buildings

BS03

17.678.131

20.945.242

 

Technical installations and means of transport

BS04

10.101.313

10.900.435

 

Other installations, machinery and furniture

BS05

71.204

78.181

 

Tangible assets under construction

BS06

2.418.897

2.962.757

 

Prepayments

BS07

123.120

123.120

IAS 1.54(c)

Intangible assets

BS08

81.338

117.174

 

Development costs

BS09

62.405

83.230

 

Concessions, patents, licenses, trademarks, rights and assets assimilated

BS10

11.376

26.387

 

Commercial Fund

BS11

0

0

 

Other intangible assets

BS12

0

0

 

Intangible assets under construction

BS13

0

0

IAS 1.54(f)

Biological assets

BS14

0

0

IAS 1.54(h)

Trade receivables and other receivables

BS15

0

0

IAS 1.54(b)

Real estate investments

BS16

0

0

IAS 1.54(e),28.38

Investments accounted for using the equity method

BS17

0

0

IAS 1.54(d)

Other investments, including derivatives

BS18

0

0

IAS 1.54(o),56

Deferred tax receivables

BS19

7.557

7.557

IAS 1.54(o),55

Assets on Employee Benefits

BS20

0

0

IAS 1.60

Total fixed assets

BS21

47.076.791

51.891.009

 

Current assets

IAS 1.54(g)

Stocks

BS22

33.811.684

37.903.801

IAS 1.54(f)

Biological Assets

BS23

0

0

IAS 1.54(d)

Other investments, including derivatives

BS24

0

0

IAS 1.54(n)

Receivables on the tax to be recovered

BS25

17.857

17.857

IAS 1.54(h)

Trade receivables and other receivables

BS26

14.782.695

14.595.986

IAS 1.55

Expenses registered in advance

BS27

3.955

4.340

IAS 1.54(i)

Cash and cash equivalents

BS28

1.771.478

1.245.085

IFRS 5.38-40

Assets classified as held for sale

BS29

0

0

IAS 1.60

Total Current Assets

BS30

50.387.668

53.767.069

 

Total ASSETS

BS31

97.464.459

105.658.078

Equity

IAS 1.54 r ,78(e)

Share capital

BS32

13.413.648

13.413.648

IAS 29

Adjustments to the share capital

BS33

3.453.860

3.453.860

IAS 1.55  , 78(e)

Capital premium

BS34

0

0

IAS 1.54 r , 78(e)

Reserves

BS35

40.780.480

67.707.446

           

 

 

Continued  Situation of the Financial Position - preliminary

 

 

 

 

Result of the exercise

BS36

-11.952.623

-19.146.952

IAS 1.55  , 78(e)

Reported result

BS37

4.904.347

-10.069.996

 

Other equity items

BS38

0

0

 

Total Equity

BS39

62.552.335

74.504.958

 

Liabilities

 

 

 

Long-term debt

 

 

 

IAS 1.54(m)

Long-term and other debt

BS40

4.214.534

6.087.660

IAS 1.54(k)

Trade and other payables, including derivatives

BS41

2.698.672

5.627.441

 

Financial derivatives

BS42

0

0

IAS 1.55

Employee benefits debts

BS43

0

0

IAS 1.55 , 20.24

Income recorded in advance

BS44

0

0

IAS 1.54(l)

Provisions

BS45

241.113

246.213

IAS 1.54(o),56

Deferred tax liabilities

BS46

0

0

IAS 1.60

Total Long-Term Liabilities

BS47

7.154.319

11.961.314

 

Current debts

 

IAS 1.55

Overdraft

BS48

0

0

IAS 1.54(m)

Short-term loans

BS49

3.284.264

2.467.306

IAS 1.54(k)

Trade and other payables, including derivatives

BS50

24.473.541

16.724.500

IAS 1.55 , 11.42(b)

Income recorded in advance

BS51

0

0

IAS 1.54(l)

Provisions

BS52

0

0

IFRS 5.38-40,IAS1.54(P)

Debt classified as held for sale
 

BS53

0

0

IAS 1.60

Total Current Debt

BS54

27.757.805

19.191.806

 

Total Debt

BS55

34.912.124

31.153.120

Total Equity and Debt

BS56

97.464.459

105.658.078

 

 

 

        General Director                                                               Economic Director         

        Eng. Zidaru Ion                                                                 Ec. Popescu Ileana                   

 

 

Head of General Accountancy Service

        Ec. Ilie Marian

 

 

 

 

Global Outcome Status - Preliminary

 

 

 

Annex no. 2

 

Reference

At December 31 December 2017

line

(RON)

(RON)

IAS 1.10(b) 113,81(a)

2017

2016

 

Continuous assets

 

 IAS 1.82(a)

Income

PL01

44.370.143

41.510.000

 IAS 1.99,103

Other incomes

PL02

425.229

1.132.405

 

Stock change

PL03

3.828.030

5.577.215

 

Total Operating Income

PL04

48.623.402

48.219.620

 

 

 

 

 

 

Expenditure on inventories

PL05

25.284.511

27.202.538

 

Utilities expenses

PL06

2.760.022

2.868.167

 

Employee Benefits Expenditures

PL07

21.006.344

18.075.656

 

Expenses with amortization and depreciation of fixed assets

PL08

4.743.779

6.057.829

 

Expenditure on environmental protection

PL09

219.103

0

 

Earnings / losses from disposal of fixed assets

PL10

0

0

 

Adjusting the value of current assets

PL11

-328

-716.019

 

Adjustments for provisions

PL12

-5.100

-4.425

 IAS 1.99,103

Other expenses

PL13

6.353.439

12.240.235

 

Total Operational Expenses

PL14

60.362.426

67.156.019

 

 

 

 

 

 

Result of Operational Activities

PL15

-11.739.024

-18.936.399

 

 

 

 

 

 

Financial Income

PL16

698.840

1.324.412

 IAS 1.82(b)

Financial expenses

PL17

912.439

1.534.965

 

Financial Net Result

PL18

-213.599

-210.553

 

 

 

 

 

 

Share of net profit related to investments accounted for using the equity method

PL19

0

0

  IAS 1.85

The Result Before Taxing

PL20

-11.952.623

-19.146.952

 

 

 

 

 

 

Current income tax expense

PL21

0

0

 

Expenses with deferred tax expense

PL22

0

0

 

Deferred tax income

PL23

0

0

           

 

 

  

Continued  Global Outcome Status - Preliminary

 

 

 

 

Interrupted activities

 

 

 

 

 

 

 

 

 

Net profit / loss from discontinued operations (after tax)

PL25

0

0

 IAS 1.82(f)

Result of the Period

PL26

0

0

 

 

 

 

 

  IAS 1.85

Other Elements of Global Output

 

 

 

 

Foreign exchange rate differences resulting from the conversion of operations abroad

PL27

0

0

 

Net loss of net investment coverage in foreign operations

PL28

0

0

 

Increase / (decrease) in revaluation reserves

PL29

0

0

 

Effective part of changes in fair value of cash flow coverage

PL30

0

0

 

Net change in the fair value of cash flow coverage transferred to the income statement

PL31

0

0

 

Net change in fair value of available-for-sale financial assets
 

PL32

0

0

 

Net change in the fair value of available-for-sale financial assets transferred to the income statement

PL33

0

0

 

Actuarial gains / losses on defined contribution plans

PL34

0

0

 

Other Global Result Items, After Taxation

PL35

0

0

 

 

 

 

 

 IAS 1.82(f)

Total Global Result for the Period

 

PL36

-11.952.623

-19.146.952

 

        General Director                                                               Economic Director         

        Eng. Zidaru Ion                                                                 Ec. Popescu Ileana                   

 

Head of General Accountancy Service

        Ec. Ilie Marian

 

 



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