PRESS
The Board of Directors of Farmaceutica REMEDIA S.A. presents to the shareholders of the company, investors and the public the consolidated financial results registered by our pharmaceutical company between 01.01.2018 - 30.09.2018.
General description of the financial position and of the issuer’s performances and of its branches afferent to the 3rd quarter of 2018
During the period 01.01.2018 – 30.09.2018 the commercial company Farmaceutica REMEDIA S.A. recorded the following consolidated financial results:
|
Crt. No.
|
Indicator
|
Realisations January-September 2017 (Lei)
|
Realisations January-September 2018 (Lei)
|
Evolution 2018/2017
(%)
|
|
1.
|
Net sales of goods *
|
243.487.219
|
331.142.486
|
+ 35,99
|
|
2.
|
Other operating revenues
|
2.962.835
|
3.718.734
|
+ 25,51
|
|
3.
|
Total operating revenues
|
246.450.054
|
334.861.220
|
+ 35,87
|
|
4.
|
Total operating costs *
|
242.941.459
|
331.757.256
|
+ 36,56
|
|
5.
|
Operating result
|
3.508.595
|
3.103.964
|
- 11,53
|
|
6.
|
Financial result
|
120.046
|
- 33.314
|
- 127,75
|
|
7.
|
Gross result
|
3.628.641
|
3.070.650
|
- 15,38
|
|
* Including commercial discounts granted/received
A repartition of net sales of goods by segment of activity is presented as follows:
Lei
|
REMEDIA Pharmacies
|
70.088.100
|
21,17%
|
|
Distribution
|
177.771.917
|
53,68%
|
|
Distribution of Hospitals & Clinics
|
66.175.195
|
19,98%
|
|
Other operations
|
17.107.274
|
5,17%
|
|
Total
|
331.142.486
|
100,00 %
|
“Other operating revenues” mainly comprise the following categories of revenues: collected rents, marketing services, assets sales, logistic services, other services
3. Financial statements on 30.09.2018 were not audited by the independent financial auditor.
|
4. Economic-financial indicators 30.09.2018
|
|
|
|
|
LIQUIDITY AND WORKING CAPITAL
|
FR
|
FRDL
|
|
|
Current liquidity (Current assets / Current debts)
|
1,20
|
1,01
|
|
|
Current assets
|
32.167.288
|
227.477.501
|
|
|
Current debts
|
26.744.149
|
224.255.942
|
|
|
Degree of indebtedness (Borrowed capital / Equity x 100)
|
0%
|
1,56%
|
|
|
Borrowed capital*
|
0
|
64.219
|
|
|
Equity
|
42.009.341
|
4.104.055
|
|
|
Turnover speed for client debit items (Average customer balance /turnover*180)
|
46 days
|
109 days
|
|
|
Average customer balance
|
12.171.675
|
125.475.740
|
|
|
Net turnover
|
71.698.110
|
309.432.005
|
|
|
Turnover speed of stocks (average stock/net COGS)*180
|
67 days
|
51 days
|
|
|
Average stock
|
13.674.897
|
53.804.624
|
|
|
Net COGS
|
54.846.307
|
287.516.512
|
|
|
|
|
|
|
|
|
|
* including financial leasing
Notes:
1) Current liquidity – indicator level reflects a good payment capacity, therefore a reduced risk for creditors, certifying that the companies are capable of covering their short-term liabilities based on receivables and cash availability. As compared to the same period of last year, the indicator positively evolved for FR (from 1,1) and has slightly degraded for FRDL (from 1,02).
2) Degree of indebtedness expresses the effectiveness of credit risk management, indicating potential financing, liquidity problems, with influences in honouring the assumed commitments. In the case of FR, there is no risk, while for FRDL, the indicator value indicates a low risk. As compared to the same period of last year, the indicator positively evolved (from 4,24%). In the calculation of this indicator, the borrowed capital comprises both bank credits, and debts from the financial leasing.
3) Turnover speed for client debit items expresses company effectiveness in collecting its receivables, respectively the number of days until the date on which debtors pay their debts to the company. Considering the dynamics of sales and the specific of collecting receivables in the distribution of drugs, we believe that the value of the indicator is a normal one for both companies, under the circumstances. The dynamics of this indicator was for FR the following: 28 days for 9 months in 2017, 28 days in the 3rd quarter for 2017 and 45 days in the 3rd quarter of 2018. In the case of FRDL we have: 113 days for 9 months in 2017, 106 days in the 3rd quarter in 2017 and 108 days in the 3rd quarter of 2018.
4) The days on hand indicator value (67, 51 days respectively) can be considered that falls within the activity specificity, exceeding the limit imposed by the internal procedures of the company (45 days) in the case of FR. In the case of FR, the indicator had the following evolution: 66 days in the first 9 months in 2017, 68 days in the 3rd quarter in 2017 and 70 days in the 3rd quarter of 2018. In FRDL we have: 36 days for 9 months in 2017, 38 days for the 3rd quarter of 2017 and 56 days for the 3rd quarter of 2018.
The 2018 Q3 report - full version - is available on our own website www.remedia.ro and in the link below.
Chairman of the Board of Administrators
“TARUS” Valentin Norbert TARUS e.U.
by representative
Valentin Norbert TARUS