MED LIFE S.A. MED LIFE GROUP
CONSOLIDATED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED JUNE 30, 2021
PREPARED IN ACCORDANCE WITH INTERNATIONAL
FINANCIAL REPORTING STANDARDS AS ADOPTED BY EUROPEAN UNION
Free translation from the original Romanian version.
Name of the issuing company: MED LIFE S.A.
Registered Office: Bucharest, 365 Calea Griviței, district 1, Romania
Fax no.: 0040 374 180 470
Unique Registration Code at the National Office of Trade Registry: 8422035
Order number on the Trade Registry: J40/3709/1996
Subscribed and paid-in share capital: RON 33.217.623
Regulated market on which the issued securities are traded: Bucharest Stock Exchange
CONTENTS: | PAGE: |
CONSOLIDATED STATEMENT OF FINANCIAL POSITION | 2 |
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME | 3 |
CONSOLIDATED STATEMENT OF CASH FLOWS | 4 |
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY | 5 - 6 |
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS | 7 - 34 |
Note: The following consolidated financial statements are prepared in accordance with international financial reporting standards, as adopted by European Union ("IFRS")
Report concluded in compliance with ASF Regulation no. 5/2018 on issuers of financial instruments and capital markets and Law no. 24/2017 on issuers of financial instruments and capital markets.
The following consolidated interim financial statements are unaudited.
Free translation from the original Romanian version.
MED LIFE GROUP
CONSOLIDATED UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED JUNE 30, 2021
(all the amounts are expressed in RON, unless otherwise specified)
CONSOLDIATED UNAUDITED STATEMENT OF FINANCIAL POSITION FOR THE PERIOD ENDED JUNE 30, 2021
June 30, | January 1, | Variation | |||
2021 | 2021 | 2021/2020 | |||
ASSETS | |||||
NON-CURRENT ASSETS | |||||
Goodwill | 158,215,249 | 147,256,824 | 7.4% | ||
Intangible assets | 43,627,556 | 46,755,678 | -6.7% | ||
Tangible assets | 550,469,060 | 535,672,488 | 2.8% | ||
Right-of-use asset | 128,759,037 | 146,821,194 | -12.3% | ||
Other financial assets | 38,018,711 | 27,940,022 | 36.1% | ||
TOTAL NON-CURRENT ASSETS | 919,089,613 | 904,446,206 | 1.6% | ||
Current Assets | |||||
Inventories | 48,862,001 | 53,058,518 | -7.9% | ||
Trade and other receivables | 143,428,424 | 121,079,030 | 18.5% | ||
Other receivables | 15,303,792 | 15,822,146 | -3.3% | ||
Cash and cash equivalents | 130,092,462 | 81,970,397 | 58.7% | ||
337,686,679 | 271,930,091 | 24.2% | |||
Prepayments | 10,095,509 | 7,117,566 | 41.8% | ||
TOTAL CURRENT ASSETS | 347,782,188 | 279,047,657 | 24.6% | ||
TOTAL ASSETS | 1,266,871,801 | 1,183,493,863 | 7.0% | ||
LIABILITIES & SHAREHOLDER'S EQUITY | |||||
Current Liabilities | |||||
Trade and other payables | 165,578,329 | 151,690,134 | 9.2% | ||
Overdraft | 24,198,621 | 27,127,907 | -10.8% | ||
Current portion of lease liability | 39,383,702 | 41,166,069 | -4.3% | ||
Current portion of long term debt | 75,333,848 | 46,436,217 | 62.2% | ||
Current tax liabilities | 5,744,371 | 5,467,450 | 5.1% | ||
Provisions | 6,890,167 | 7,209,494 | -4.4% | ||
Other short term liabilities | 38,036,392 | 35,230,733 | 8.0% | ||
TOTAL CURRENT LIABILITIES | 355,165,430 | 314,328,004 | 13.0% | ||
Long Term Debt | |||||
Lease liability | 131,770,055 | 147,097,180 | -10.4% | ||
Other long term liabilities | 13,902,583 | 18,119,743 | -23.3% | ||
Long term debt | 406,867,109 | 414,696,592 | -1.9% | ||
TOTAL LONG-TERM LIABILITIES | 552,539,747 | 579,913,515 | -4.7% | ||
Deferred tax liability | 20,568,013 | 20,345,799 | 1.1% | ||
TOTAL LIABILITIES | 928,273,190 | 914,587,319 | 1.5% | ||
SHAREHOLDER'S EQUITY | |||||
Share capital and share premium | 82,395,091 | 82,027,012 | 0.4% | ||
Treasury shares | (346,466) | (666,624) | -48.0% | ||
Reserves | 124,552,809 | 124,211,557 | 0.3% | ||
Retained earnings | 97,663,045 | 35,701,579 | 173.6% | ||
Equity attributable to owners of the Group | 304,264,479 | 241,273,524 | 26.1% | ||
Non-controlling interests | |||||
34,334,133 | 27,633,021 | 24.3% | |||
TOTAL EQUITY | 338,598,612 | 268,906,545 | 25.9% | ||
TOTAL LIABILITIES AND EQUITY | 1,266,871,802 | 1,183,493,863 | 7.0% |
Mihail Marcu, | Adrian Lungu, | |
CEO | CFO |
The accompanying notes are an integral part of the consolidated financial statements.
Free translation from the original Romanian version.
2
MED LIFE GROUP
CONSOLIDATED UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED JUNE 30, 2021
(all the amounts are expressed in RON, unless otherwise specified)
CONSOLIDATED UNAUDITED STATEMENT OF COMPREHENSIVE INCOME FOR THE PERIOD ENDED JUNE 30, 2021
6 months ended June 30, | Variation | ||||||
2021 | 2020 | 2021/2020 | |||||
Sales | 677,290,415 | 469,530,819 | 44.2% | ||||
Other operating revenues | 2,361,661 | 1,703,993 | 38.6% | ||||
Operating Income | 679,652,076 | 471,234,812 | 44.2% | ||||
Consumable materials and repair materials | (121,848,288) | (75,468,411) | 61.5% | ||||
Third party expenses (including doctor's agreements) | (183,825,118) | (128,399,941) | 43.2% | ||||
Salary and related expenses | (159,297,440) | (135,151,395) | 17.9% | ||||
Social contributions | (5,629,077) | (5,236,880) | 7.5% | ||||
Depreciation | (52,755,571) | (49,308,137) | 7.0% | ||||
Impairment losses and gains (including reversals of | (1,888,200) | - | -100.0% | ||||
impairment losses) | |||||||
Other operating expenses | (51,282,933) | (46,783,093) | 9.6% | ||||
Operating expenses | (576,526,627) | (440,347,856) | 30.9% | ||||
Operating Profit | 103,125,449 | 30,886,956 | 233.9% | ||||
Finance cost | (12,314,202) | (10,067,299) | 22.3% | ||||
Other financial expenses | (5,560,501) | (5,008,809) | 11.0% | ||||
Financial result | (17,874,703) | (15,076,107) | 18.6% | ||||
Result Before Taxes | 85,250,746 | 15,810,848 | 439.2% | ||||
Income tax expense | (13,699,390) | (4,874,911) | 181.0% | ||||
Net Result | 71,551,356 | 10,935,937 | 554.3% | ||||
Owners of the Group | |||||||
64,393,437 | 9,052,569 | 611.3% | |||||
Non-controlling interests | 7,157,919 | 1,883,369 | 280.1% | ||||
Other comprehensive income items that will not | |||||||
be reclassified to profit or loss | |||||||
Gain/loss on revaluation of equity instruments | - | (146,013) | -100.0% | ||||
Deferred tax on other comprehensive income | - | 23,362 | |||||
components | -100.0% | ||||||
TOTAL OTHER COMPREHENSIVE INCOME | - | (122,651) | -100.0% | ||||
Total other comprehensive income attributable | |||||||
to: | |||||||
Owners of the Group | - | (122,651) | -100.0% | ||||
Non-controlling interests | - | - | 0.0% | ||||
TOTAL COMPREHENSIVE INCOME | 71,551,356 | 10,813,287 | 561.7% | ||||
Total comprehensive income attributable to: | |||||||
Owners of the Group | 64,393,437 | 8,929,919 | 621.1% | ||||
Non-controlling interests | 7,157,919 | 1,883,369 | 280.1% | ||||
Mihail Marcu, | Adrian Lungu, | ||||||
CEO | CFO |
The accompanying notes are an integral part of the consolidated financial statements.
Free translation from the original Romanian version.
3
MED LIFE GROUP
CONSOLIDATED UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED JUNE 30, 2021
(all the amounts are expressed in RON, unless otherwise specified)
CONSOLIDATED UNAUDITED STATEMENT OF CASH FLOWS FOR THE PERIOD ENDED JUNE 30, 2021
6 months ended June 30, | |||
2021 | 2020 | ||
Net result before taxes | 85,250,746 | 15,810,848 | |
Adjustments for | |||
Depreciation | 52,755,571 | 49,308,137 | |
Provisions for risks and charges | (319,327) | - | |
Interest revenue | (74,069) | (19,415) | |
Interest expense | 12,314,202 | 10,067,299 | |
Allowance for doubtful receivables | 1,791,488 | (18,735) | |
Financial Discounts | 2,719 | - | |
Other non-monetary gains | - | (408,623) | |
Unrealized exchange gain / loss | 4,372,642 | 5,064,873 | |
Operating cash flow before working capital changes | 156,093,972 | 79,804,383 | |
Decrease / (increase) in accounts receivable | (25,363,361) | (1,544,604) | |
Decrease / (increase) in inventories | 5,294,604 | 2,751,832 | |
Decrease / (increase) in prepayments | (2,969,365) | (1,512,059) | |
Increase / (decrease) in accounts payable | 3,026,564 | (4,143,209) | |
Cash used in working capital changes | (20,011,558) | (4,448,040) | |
Cash generated from operations | 136,082,414 | 75,356,343 | |
Income Tax Paid | (13,410,846) | (1,255,345) | |
Interest Paid | (12,148,029) | (6,616,279) | |
Interest received | 74,069 | 19,415 | |
Net cash generated from operating activities | 110,597,608 | 67,504,134 | |
Investment in business combination | (18,508,479) | (1,369,102) | |
Additional participation interest acquired | (630,592) | - | |
Purchase of intangible assets | (1,644,395) | (1,352,916) | |
Purchase of property, plant and equipment | (33,640,071) | (18,569,585) | |
Net cash used in investing activities | (54,423,537) | (21,291,603) | |
Cash flow from financing activities | |||
Increase in Loans | 31,578,671 | 29,211,041 | |
Payment of loans | (18,863,978) | (17,176,101) | |
Financial Lease payments | (20,696,640) | (18,875,563) | |
Dividends paid to NCI | (70,000) | - | |
Payments for purchase of treasury shares | (59) | (1,812,431) | |
Net cash used in financing activities | (8,052,006) | (8,653,054) | |
Net change in cash and cash equivalents | 48,122,065 | 37,559,477 | |
Cash and cash equivalents beginning of the period | 81,970,397 | 38,886,218 | |
Cash and cash equivalents end of the period | 130,092,462 | 76,445,695 | |
Mihail Marcu, | Adrian Lungu, | |
CEO | CFO |
The accompanying notes are an integral part of the consolidated financial statements.
Free translation from the original Romanian version.
4
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Med Life SA published this content on 27 August 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 August 2021 07:21:06 UTC.
