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