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TRANSILVANIA BROKER DE ASIGURARE SA - TBK

2019 Q3 report

Release Date: 11/13/2019 6:07:59 PM

IRIS Code: 6643D

                                                                                                                                                   

                                                                                                      Reg. No  429/13.11.2019

To,

 

BUCHAREST STOCK EXCHANGE S.A.

FINANCIAL SURVEILLANCE AUTHORITY

 

 

ANNOUNCEMENT

on the availability of the Third Quarter of 2019 Report

 

               According to the provisions of Law no. 24/2017 and those of ASF Regulation no. 5/2018, TRANSILVANIA BROKER DE ASIGURARE S.A. informs that the Third Quarter of 2019 Report,  is available to shareholders, investors and the public, as follow :

 

·         on the website of the Bucharest Stock Exchange, www.bvb.ro , on the bellow link;

·         on the company's website www.transilvaniabroker.ro, at “Investor Relations/Financial data/Financial Reports“ section ;

·         as printed version, at the headquarters in Bistrita, Calea Moldovei Street, no.13,  Bistrita-Nasaud County

          

It is mentioned that the Financial Statements on which the Third Quarter of 2019 Report was drawn up are not audited.

 

             TRANSILVANIA BROKER DE ASIGURARE S.A.

CHAIRMAN OF THE BOARD OF DIRECTORS

        NICULAE DAN

 

 

 

 

 

 

 

 

 

 

 

 

Summary

 

                                                              The Report of the Third Quarter of 2019

 

PROFIT AND LOSS ACCOUNT

 

 

 

 

Indicators of the financial position

(values are expressed in lei currency)

2018

30 septembrie

2019

30 septembrie

Variation  (%)

trim III 2019 / trim III 2018

Share in income/expenses

(%) trim III 2019

 

Operating incomes, from which:

45.053.710

52.664.461

+16,9%

100%

Income from negotiating contracts

45.007.060

52.664.461

+16,9%

99,96%

Income from other activities related to the business

44.431

20.608

-53,6%

0,04%

Other operating income

2.219

-

-

-

Operating expenses, from which:

41.699.615

48.756.815

+16,9%

100%

Expenditures with commissions due to broker agents 

37.945.832

44.755.454

+17,9%

91,8%

Personnel expenditures

1.670.924

1.837.897

+10,0%

3,77%

Expenditures of services provided by third parties

1.331.636

1.615.962

+21,4%

3,31%

Expenditures of material nature as consumables, inventory objects

112.985

200.161

+77,2%

0,41%

Expenses with other taxes, fees and similar payments

53.988

85.879

+59,1%

0,18%

Other operating expenses

87.107

179.407

+106,0%

0,37%

RESULTS FROM OPERATION

3.354.095

3.907.646

+16,5%

-

Financial incomes

13.088

24.415

+86,5%

-

Financial expenses

-

46.451

-

-

FINANCIAL RESULT

13.088

(22.036)

-

-

GROSS RESULT

3.367.183

3.885.610

+15,4%

-

Profit tax

510.061

533.139

+4,5%

-

NET RESULT

2.857.122

3.352.471

+17,3%

-

                   

Structurally, the concern of the company's management for the efficiency of the activity is reflected in the significant decrease of the expenses with the personnel, whose share in total operating expenses decreased from 4.01% to 3.77%. Other categories of expenditures present slightly higher shares: in the reporting period, 3.31% of the total operating expenses, with 0.22 p.p. more than in the reference period; material expenses - in the context of investments in the new premises - increase from 0.27% of total operating expenses at 30.09.2018, to 0.41% by 30.09.2019, other operating expenses from 0.21% to 0,37% in the same period. These relative increases are offset by the cancellation of the expenditure with the adjustment of the current assets value, which represented, on 30.09.2018, 1.14% of the total operating expenses.

As of 30.09.2019, the net profit margin is 6.37%, slightly higher than the profit margin of the reference period  (6.34%).

The Financial Statements on which the Third Quarter of 2019 Report was drawn up are not audited.

 

             TRANSILVANIA BROKER DE ASIGURARE S.A.

CHAIRMAN OF THE BOARD OF DIRECTORS

        NICULAE DAN

 



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