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2022 Q1 report

Release Date: 5/16/2022 8:30:10 AM

IRIS Code: AA560

Communique - Quarterly Report - the first quarter of 2022


Date of report: 16.05.2022

Name of the Company - PREFAB SA

Registered Office - Bucuresti, Dr. Iacob Felix, nr. 17 - 19, et.2, sector 1

Premises: Calarasi, str. Bucuresti, nr. 396.

Phone/Fax no.: 021-3315116/ 021-3305980

Tax Identification no. with Trade Registry Office RO1916198

Trade Registry Registration no.: J40/9212/2003

Subscribed and paid in share capital: 24.266.709,5 lei

Regulated market where the issued securities are traded: Bucharest Stock Exchange, Standard category

The main characteristics of the securities issued - the company has issued a number of 48.533.419 registered shares each with a nominal value of 0,5 lei, dematerialized

Accounting standard applied: International Financial Reporting Standards


Russia's invasion of Ukraine on 24 February 2022 has triggered a war in Europe that threatens the entire world order. The conflict has caused an inflationary shock that has manifested itself strongly in all sectors of the national economy on the supply side of natural gas, oil-fuel, industrial raw materials causing price increases and bottlenecks in production chains, already affected by the COVID-19 pandemic.

 The decrease in the supply of raw materials and energy products and, on the other hand, the increase in prices and the decrease in the purchasing power of consumers caused the reduction of the company's production activity in the first quarter of 2022.

 The health crisis caused by COVID-19, has in turn influenced the economic environment in the last two years, having multiple negative implications for its functioning.

In these special conditions, which the economic environment has never experienced before, the company has paid increased attention to its activities and has acted prudently in its management.

At present the most worrying phenomenon is the increase in inflation, which is causing a decrease in demand in the building materials market due to the decrease in purchasing power and the orientation towards existing products by consumers.

Under these conditions, on 31 March 2022 compared to the same period in 2021, there is a bottleneck in the building materials market due to the decrease in purchasing power, and in the market for precast reinforced and prestressed concrete, electrical poles, highway elements, prefabricated parts for hypermarkets or supermarkets, beams for road bridges, the cause is the lack of large projects for national infrastructure and skilled labour, the market remains at a low level due to financial bottlenecks in national investment.

 The economic climate is still characterized by excessive and changing taxation, with the risk of increasing taxes and duties to finance public expenditure, cumbersome legislation, excessive bureaucracy in obtaining the necessary permits and authorizations for operations, currency risk with influence on the price of some raw materials and materials.

The turnover registered as of 31.03.2022 is up by 1.22% compared to that registered as of 31.03.2021, the increase in this indicator being due to the increase in sales prices.

The operating result recorded a depreciation on 31.03.2022, -323.208 lei, compared to 4.081.267 lei, recorded on 31.03.2021, the decrease being due to the current economic context of reduction of activity.

The financial result recorded on 31.03.2022 is -217.263 lei, compared to -339.328 lei recorded in the same period of 2021, a decrease due to bank loan repayments made in this period, as the interest rate curve is increasing.

The value of fixed assets decreased by 0.86 %, from 207,794,752 lei (31.12.2021) to 206,010,976 lei (31.03.2022), a decrease due to depreciation of land and buildings, technical installations and machinery, other installations, equipment and furniture.

The value of current assets and other assets increased by 0.01 %, from 56,532,853 lei (31.12.2021) to 56,540,628 lei (31.03.2022), while net current assets increased to 18,676,678 lei compared to 17,903,345 lei as of 31.12.2021.   

 Total liabilities remain in the same range of values, recording a decrease of 2.54%, from 43,756,463 lei (31.12.2021) to 42,647,131 lei (31.03.2022). 

 As of 31.03.2022, total income of 20,929,733 lei was realised, representing 89.13% of the income realised in the same period of 2021 and total expenditure of 21,470,204 lei, representing 108.75% of the expenditure realised in the same period of 2021. Under these conditions the gross result is (540,471) lei, a significant loss, depreciation compared to the results recorded in the same period of 2021.



Indicators (lei)




Fixed assets


Current assets and other assets


Total debts


Equity and liabilities




Indicators (lei)







Net turnover



Other operating revenues



Operating expenses



Operational result






Financial income



Financial expenses



Financial result

-35.97 %


Total income



Total expenses

+8.76 %


Gross profit



Net profit



The report for the first quarter of 2022 is not audited.

For the entire report presenting the Company's activity for the period January-March 2022, please consult the company's website and the link below.


Milut Petre Marian

General Manager



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