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

2018 Q3 report

Release Date: 11/15/2018 7:32:49 AM

IRIS Code: 13A6F

2018 Q3 REPORT

In accordance with the ASF Regulation no.5 / 2018 and Law 24/2017

Report Date: 15.11.2018

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 September 30, 2018, in accordance with the Law 24/2017 and the ASF Regulation no.5 / 2018

A. Quarterly report September 30, 2018

1. Synthesis of Economic and Financial Indicators on 30 September 2018

1.a. STATEMENT OF FINANCIAL POSITION

Economic and financial indicator

Value at 30.09.2018 (lei)

Value at 31.12.2017 (lei)

Index 30.09.2018/ 31.12.2017 (%)

Total fixed assets of which:

206.068.356

205.322.009

100,36%

Tangible assets

184.489.129

183.895.784

100,32%

Intangible assets

415.762

396.453

104,87%

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)

1.538.343

1.404.650

109,52%

Total Circulating Assets of which:

72.403.763

47.048.121

153,89%

Inventories

498.037

442.128

112,65%

Trade receivables and other receivables

11.267.810

4.868.821

231,43%

Financial assets

0

0

0,00%

Cash and cash equivalents

22.199.147

4.439.143

500,08%

Non-current assets held for sale

36.477.412

36.516.013

99,89%

Accrued expenses

1.961.356

782.016

250,81%

TOTAL ASSETS

278.472.119

252.370.130

110,34%

Total Equity of which:

243.112.518

231.785.375

104,89%

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

23.636.558

22.894.846

103,24%

Reserves from the application of IAS 29

16.745.901

16.745.901

100,00%

Revaluation differences

107.255.810

107.511.069

99,76%

Result for the period

12.166.619

1.691.836

719,14%

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

52.842.919

52.587.660

100,49%

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

(12.580.197)

(12.690.844)

99,13%

Total liabilities of which:

35.359.601

20.584.755

171,78%

Total long-term liabilities of which:

13.217.079

15.209.362

86,90%

Long-term loans

0

1.600.000

-

Trade payables and other liabilities, including derivatives

0

39.735

-

Provisions

56.581

409.128

13,83%

Deferred tax liabilities

13.160.498

13.160.498

100,00%

Total Current liabilities of which:

22.142.522

5.375.393

411,92%

Short-term loans

0

800.000

-

Trade payables and other debts, including derivatives

22.053.275

4.550.552

484,63%

Deferred income

64.406

0

-

Provisions

24.841

24.841

100,00%

Total Equity and Liabilities

278.472.119

252.370.130

110,34%

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

Economic and financial indicator

Value at 30.09.2018 (lei)

Value at 30.09.2017 (lei)

Index 30.09.2018/ 30.09.2017 (%)

Total Operational Income

48.411.536

36.158.196

133,93%

Income from accommodation

29.451.848

20.992.537

140,30%

Income from catering

13.833.560

10.123.237

136,65%

Rental income and other income included in turnover

3.873.971

3.408.207

113,67%

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

447.445

0

0

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

804.712

1.624.215

49,54%

Total Operational expenses

36.143.014

30.313.984

119,23%

Expenses related to inventories

7.247.848

5.966.672

121,47%

Utility expenses

2.670.810

2.156.895

123,83%

Salaries, contributions, and other benefits

10.780.340

9.803.935

109,96%

Depreciation and amortization expenses

5.045.935

5.226.741

96,54%

Expenses related to disposed fixed assets and assets held for sale

265.699

1.378

19281,49

Expenses with other taxes and fees

3.459.655

2.550.131

135,67%

Other expenses (diminished with income from cancellation provisions)

6.672.727

4.608.232

144,80%

The result of operational activities

12.268.522

5.834.212

210,29%

Financial income

190.563

147.059

129,58%

Financial expenses

74.002

80.851

81,45%

Net financial result

116.561

56.208

207,38%

Total INCOME

48.602.099

36.295.255

133,91%

Total EXPENSES

36.217.016

30.404.835

119,12%

Result before taxation

12.385.083

5.890.420

210,26%

Current income tax expense

0

0

0

The specific tax expense

218.464

146.756

148,86%

Deferred income tax expenses

0

0

0

Deferred income tax income

0

0

0

Result for continuing operations

12.166.619

5.743.664

211,83%

Total comprehensive income for the period

12.166.619

5.743.664

211,83%

1.c. Economic and financial indicators at 30.09.2018 according to Annex 13 of the ASF Regulation no.5 / 2018

Nr crt

Indicator

Calculation method

Result

1

Current liquidity indicator

Current assets/ current liabilities

3,2699

2

Degree of indebtedness indicator

Borrowed capital / capital employed x 100

5,41%

3

Speed ​​of customer flow rotation

Average customer balance / turnover x 90 zile

36,45

4

Speed ​​of rotation of fixed assets

Turnover/ fixed assets

0,2289

2. The quarterly report on September 30, 2018 - the full version is available on its own website www.thrmareaneagra.ro and in the link below.

The quarterly report on September 30, 2018 is unaudited.

Narcisa MOSOIU

General Manager/Executive President

Daniela TUDOR

Chief Financial Officer



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