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SOCEP S.A. - SOCP

2020 Preliminary financial results

Release Date: 2/26/2021 6:00:28 PM

IRIS Code: 52D22

 

 ANNUAL REPORT 

of Preliminary Financial Statements for 2020

 

 

NAME OF SHARES ISSUER                      : SOCEP SA

REGISTERED OFFICE                                : CONSTANTA, INCINTA PORT, Dana 34

PHONE / FAX                                               : 0241/693856; 0241/693759

FISCAL CODE                                              : RO 1870767

COMPANY NO. IN THE TRADE REGISTER : J 13/643/1991

TRADING MARKET                                         : B.V.B. (B.S.E.) Standard category, SOCP symbol

SUBSCRIBED SHARE-CAPITAL                    : 35,399,149.00 lei split in 353,991,490 registered dematerialized shares with a nominal value of 0.10 lei/share

 

 

FINANCIAL AND ECONOMIC STATE

a) The main elements of the Balance Sheet and of the Profit and Loss Account, compared to the same period of the previous year, are below listed:

                                                                                               

 

2018

2019

2020

TOTAL ASSETS

out of which:

197,892,213

355,611,114

405,920,785

- Fixed Assets

137,335,317

294,731,196

374,228,590

- Stocks

863,563

1,306,149

914,175

- Customers and other Receivables

15,205,514

17,426,954

21,171,310

- Accruals and prepaid Expenses

170,948

180,184

208,004

- Cash and Bank Accounts

44,316,871

41,966,630

9,398,706

TOTAL EQUITY AND LIABILITIES

out of which

197,892,213

355,611,114

405,920,785

- Equity

160,318,460

173,978,931

188,645,487

- Suppliers and other Debts

8,470,704

6,008,078

8,843,685

- Deferred Income Tax and Current Income Tax Liabilities

5,231,191

3,782,811

6,441,379

- Long-term Loans (interest included)

23,331,057

170,938,290

201,521,709

- Provisions

518,323

869,175

442,937

- Upfront revenues

22,479

33,829

25,588

 

b) Profit and Loss Account

 

 

2018

2019

2020

Turnover

74,678,818

76,921,205

66,439,712

Total Revenues

78,503,999

90,672,264

73,019,646

Total Expenses

63,954,577

68,855,162

70,196,887

Gross Profit

14,549,422

21,817,102

2,822,758

 

                                                                                                                                   

c)   Financial and Economic Indicators

 

INDICATORS

CALCULATION PROCEDURE

RESULTS

2019

2020

1.

Current Ratio

Current Assets/Current Liabilities

3.47

1.67

 

2.

 

Indebtedness degree

Loan Capital

--------------------------------- x 100

Equity Capitax

Loan Capital

------------------------------ x 100

Committed Capital

 

 

94.32

 

 

 

48.54

 

105.12

 

 

 

51.25

3.

Rotation Speed of Customers’ debts

Customers’ Averagge Balance

---------------------------- x 360

Turnover

 

 

70.89

 

86.02

4.

Rotation Speed of Fixed Assets

Turnover/Fixed Assets

0.26

0.18

           

Preliminary Financial Statements as at 12/31/2020 are drawn-up complying with IFRS and includ:

-       Statement of Financial position

-       Statement of Comprehensive income

The Preliminary Financial Statements  are not audited and therefore may change with minor decrease or setting-up provisions..

 

 

The Preliminary Financial Report of the year 2020 is available starting with February 26th, 2021, at 18.00 as follows:

-       in electronic format on the company’s website, under the heading „Investors relation - BVB Reports – Semestriale”  http://www.socep.ro/rapoarte-bvb.htm;

-       can be accessed at the link below.

 

 

GENERAL MANAGER,                                                                             FINANCIAL MANAGER,

   Dorinel Cazacu                                                                                                 Cristian Ududec



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