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TURISM, HOTELURI, RESTAURANTE MAREA NEAGRA S.A. - EFO

2018 Q1 report

Release Date: 5/15/2018 7:30:06 AM

IRIS Code: 98A99

2018 Q1 REPORT

In accordance with the ASF Regulation no.1 / 2006 and Law 24/2017

Report Date: 15.05.2018

Name of issuers: TURISM , HOTELURI , RESTAURANTE MAREA NEAGRA S.A.,

Company managed in a dualistic system

Headquarters : Lavrion Street no. 29, Mangalia , Constanta County

Telephone/fax : 0241 75 24 52; 0241 75 55 59

Trade register No: J13/696/1991

Sole registration number at the Trade Register Office : RO 2980547

Subscribed and paid capital: 57.894.993,9 lei

Regulated market on which the issued shares are traded : Bucharest Stock Exchange

IMPORTANT REPORTING EVENTS:

Presentation of the financial report for the quarter ended March 31, 2018, in accordance with the Law 24/2017 and the ASF Regulation no.1 / 2006

A. Quarterly report March 31, 2018

1. Synthesis of Economic and Financial Indicators on 31 March 2018

1.a. STATEMENT OF FINANCIAL POSITION

Economic and financial indicator

Value at 31.03.2018 (lei)

Value at 31.12.2017 (lei)

Index 31.03.2018/ 31.12.2017 (%)

Total fixed assets of which:

204.384.264

205.322.009

99,54%

Tangible assets

183.005.318

183.895.784

99,52%

Intangible assets

349.174

396.453

88,07%

Investment property

17.191.112

17.191.112

100,00%

Financial assets

2.434.010

2.434.010

100,00%

Trade receivables and other receivables (including deferred tax assets)

1.404.650

1.404.650

100,00%

Total Circulating Assets of which:

46.089.895

47.048.121

97,96%

Inventories

446.552

442.128

101,00%

Trade receivables and other receivables

3.966.957

4.868.821

81,48%

Financial assets

0

0

0,00%

Cash and cash equivalents

1.850.181

4.439.143

41,68%

Non-current assets held for sale

36.516.013

36.516.013

100,00%

Accrued expenses

3.310.192

782.016

423,29%

TOTAL ASSETS

250.474.159

252.370.130

99,25%

Total Equity of which:

227.815.149

231.785.375

98,29%

Share capital

57.894.994

57.894.994

100,00%

Capital adjustment following adoption of IAS 29 for the first time

85.945.333

85.945.333

100,00%

Share premium

1.895.855

1.895.855

100,00%

Reserves

22.894.846

22.894.846

100,00%

Reserves from the application of IAS 29

16.745.901

16.745.901

100,00%

Revaluation differences

107.511.069

107.511.069

99,95%

Result for the period

(3.970.227)

1.691.836

-234.67%

Retained earnings except retained earnings from the adoption of IAS 29 for the first time

54.279.496

52.587.660

103,22%

Retained earnings came following the application of IAS 29 for the first time

(102.691.275)

(102.691.275)

100,00%

Other elements of equity

(12.690.844)

(12.690.844)

100,00%

Total liabilities of which:

22.659.010

20.584.754

110,08%

Total long-term liabilities of which:

15.218.270

15.209.362

100,06%

Long-term loans

1.600.000

1.600.000

100,00%

Trade payables and other liabilities, including derivatives

48.644

39.735

122,42%

Provisions

409.128

409.128

100,00%

Deferred tax liabilities

13.160.498

13.160.498

100,00%

Total Current liabilities of which:

7.440.740

5.375.392

138,42%

Short-term loans

800.000

800.000

100,00%

Trade payables and other debts, including derivatives

6.615.900

4.550.552

145,39%

Deferred income

24.840

24.840

100,00%

Provisions

7.440.740

5.375.392

138,42%

Total Equity and Liabilities

250.474.159

252.370.130

99,25%

1.b. STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME

Economic and financial indicator

Value at 31.03.2018 (lei)

Value at 31.03.2017 (lei)

Index 31.03.2018/ 31.03.2017 (%)

Total Operational Income

278.562

89.740

310,41%

Income from accommodation

0

0

0

Income from catering

0

0

0

Rental income and other income included in turnover

223.386

60.252

370,75%

Income from disposals of tangibles and non-current assets held for sale

0

0

0

Other income non-included in turnover (immobilized production, adjustments, amnesties, penalties, etc.)-less income from cancellation of provisions

55.176

29.488

187,12%

Total Operational expenses

4.404.801

4.150.442

106,13%

Expenses related to inventories

162.712

150.408

108,18%

Utility expenses

52.958

16.358

323,74%

Salaries, contributions, and other benefits

1.284.494

1.250.195

102,74%

Depreciation and amortization expenses

1.683.079

1.764.379

95,39%

Expenses related to disposed fixed assets and assets held for sale

0

0

0

Expenses with other taxes and fees

983.954

713.763

137,85%

Other expenses (diminished with income from cancellation provisions)

237.604

255.339

93,05%

The result of operational activities

(4.126.239)

(4.060.702)

101,61%

Financial income

171.904

142.612

120,54%

Financial expenses

15.892

37.815

42,02%

Net financial result

156.012

104.797

148,87%

Total INCOME

450.466

232.352

193,87%

Total EXPENSES

4.420.693

4.188.257

105,55%

Result before taxation

(3.970.227)

(3.955.905)

100,36%

Current income tax expense

0

0

0

The specific tax expense

0

0

0

Deferred income tax expenses

0

0

0

Deferred income tax income

0

0

0

Result for continuing operations

(3.970.227)

(3.955.905)

100,36%

Total comprehensive income for the period

(3.970.227)

(3.955.905)

100,36%

1.c. Economic and financial indicators according to Annex 30B of the ASF Regulation no.1 / 2006 at 31.03.2018

Nr crt

Indicator

Calculation method

Result

1

Current liquidity indicator

Current assets/ current liabilities

8,3076

2

Degree of indebtedness indicator

Borrowed capital / capital employed x 100

7,33%

3

Speed ​​of customer flow rotation

Average customer balance / turnover x 90 zile

768,30

4

Speed ​​of rotation of fixed assets

Turnover/ fixed assets

0,0014

2. The quarterly report on March 31, 2018 - the full version is available on its own website www.thrmareaneagra.ro and in the link below.

The quarterly report on March 31, 2018 is unaudited.

Narcisa MOSOIU

General Manager/Executive President

Daniela TUDOR

Chief Financial Officer



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