CLUJ-NAPOCA,
August 31st 2023
BSE REPORT
Calea Turzii nr.178K, Etaj 1,
Cluj-Napoca, România, PO: 400491
E-mail.office@cemacon.roWeb:www.cemacon.ro
6 Month Performance 2023
- Halving of Operating Profit EBITDA
- 36% decrease in Turnover
- Net Turnover: 78.98 million lei
General Manager Statement
The constructions and the real estate market are strongly impacted by the increase in interest rates and inflation, and the confidence to build and invest in new constructions has decreased in the context of the nearby war.
The data at our disposal show us that all the countries in the region experience decreases of at least 30% of the construction materials market.
Even in a context in which the market has collapsed, we aim to be the most efficient producer of bricklaying. In the last 12 years, at Cemacon, we developed the business constantly demonstrating agility; we adapted and performed both in periods of peak cycle, when demand exceeded supply, and in periods of low demand, succeeding in capacity increases and factory restarts.
In this context, we focused our efforts on strategic investments, with medium and long-term results:
- the opening of a new apparent brick production unit through which we diversify the business and create growth potential,
- the acquisition, integration and modernization of the Euro Crămida factory in Biharia,
-
the implementation of a photovoltaic park through which renewable energy will ensure a large part of the consumption of the factories in the Recea industrial park.
The investments were very large, exceeding 45 million euros; through this effort, the business is strengthened and new prospects for growth are created.
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Calea Turzii nr.178K, Etaj 1,
Cluj-Napoca, România, PO: 400491
E-mail.office@cemacon.roWeb:www.cemacon.ro
Profit and loss Account - 6 Month Results 2023
Evolution of Net Turnover & EBITDA (mil Lei)
Net Turnover | EBITDA | 123.43 | |
83.92
78.98
73.71
67.47
54.8557.46
34.89 | 38.58 | 38.77 | 33.44 | ||
31.07 | |||||
27.34 | |||||
21.07 | 22.08 | ||||
17.83 | |||||
6.12 | 7.98 | 6.16 | 10.15 | ||
30-Jun-1430-Jun-1530-Jun-1630-Jun-1730-Jun-1830-Jun-1930-Jun-2030-Jun-2130-Jun-2230-Jun-23
In an unstable macroeconomic context, the construction materials market registered a significant decrease, compared to the 2019-2022 period.
CEMACON's sales followed the same market trend, so that for the first 6 months of 2023, the net turnover is 79 million lei, down 36% compared to the similar period of 2022.
In the category of other operating income, the EUA certificates received during the period are highlighted, and the income from the variation of stocks reflects the production activity of the period. The expenses with raw materials and consumables registered a decrease of 13% compared to the previous period, while personnel costs marked an increase of 7%. Depreciation expenses increased as a result of the commissioning of the investments completed in the first part of the year. Financial income registered a significant increase due to placements in deposits.
For the period ended June 30, 2023 CEMACON has an EBITDA of 33,440,952 lei and a net profit of 28,688,237 lei.
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Calea Turzii nr.178K, Etaj 1,
Cluj-Napoca, România, PO: 400491
E-mail.office@cemacon.roWeb:www.cemacon.ro
Profit and loss Account - 6 Month Results 2023
30-Iun-23 | 30-Iun-22 | 2023 vs 2022 | 2023 vs 2022 | |
LEI | LEI | LEI | % | |
Gross Turnover | 92,896,654 | 131,731,030 | (38,834,376) | -29% |
Net Turnover | 78,983,042 | 123,429,514 | (44,446,471) | -36% |
Sales revenues | 78,972,692 | 123,419,128 | (44,446,436) | -36% |
Other operating revenues | 14,961,165 | 11,173,438 | 3,787,728 | 34% |
Other gains and losses | 5,713,391 | 7,862,077 | (2,148,686) | -27% |
Change in inventories of FG & WIP | 8,860,181 | 2,798,029 | 6,062,152 | 217% |
Raw materials and consumables | (16,173,533) | (18,557,953) | 2,384,420 | -13% |
Personnel expenses | (24,570,980) | (23,047,026) | (1,523,954) | 7% |
Other operating expenses | (34,321,964) | (37,810,907) | 3,488,943 | -9% |
EBITDA | 33,440,952 | 67,469,699 | (34,028,747) | -50% |
Depreciation and amortization expenses | (7,649,511) | (6,960,848) | (688,663) | 10% |
Income impairment of assets | - | - | - | 0% |
EBIT | 25,791,441 | 58,875,938 | (33,084,497) | -56% |
Financial Income | 4,065,512 | 214,010 | 3,851,502 | 1800% |
Financial Expenses | (1,168,717) | (358,357) | (810,360) | 226% |
Financial result | 2,896,795 | (144,347) | 3,041,142 | -2107% |
Profit before tax* | 28,688,237 | 58,731,592 | (30,043,354) | -51% |
Income tax expenses | - | (9,070,752) | 9,070,752 | -100% |
Profit after tax | 28,688,237 | 49,660,840 | (20,972,602) | -42% |
Total other elements of other | - | - | - | |
Comprehensive income | - | |||
Comprehensive income total | 28,688,237 | 49,660,840 | (20,972,602) | -42% |
*At the time of presentation of the results for Semester 1 2023, no other comprehensive income and deferred tax items have been computed. ** EBITDA = Operating profit + Expenses with depreciation + Financial discounts granted - Income impairment of non-current assets
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Calea Turzii nr.178K, Etaj 1,
Cluj-Napoca, România, PO: 400491
E-mail.office@cemacon.roWeb:www.cemacon.ro
Statement of financial position - Results 30th of June 2023
30-Iun-23 | 31-Dec-22 | 2023 vs 2022 | 2023 vs 2022 | |
ASSTES | LEI | LEI | LEI | % |
NON-CURRENT ASSETS | ||||
Property, plant and equipment | 238,562,278 | 203,699,307 | 34,862,971 | 17% |
Investment property | 8,885,960 | 8,885,960 | - | 0% |
Intangible | 1,209,249 | 1,131,377 | 77,872 | 7% |
Rights of use assets | 16,248,964 | 17,026,366 | (777,402) | -5% |
Investments | 127,489,922 | 1,000 | 127,488,922 | |
Other non-current assets | 583,506 | 554,017 | 29,489 | 5% |
NON-CURRENT ASSETS TOTAL | 392,979,879 | 231,298,027 | 161,681,852 | 70% |
CURRENT ASSETS | ||||
Inventories | 26,118,425 | 22,579,886 | 3,538,539 | 16% |
Trade and other receivables | 57,943,475 | 50,248,650 | 7,694,825 | 15% |
Other receivables | 18,885,688 | 16,612,591 | 2,273,097 | 37% |
Cash and cash equivalents | 60,002,662 | 133,909,885 | (73,907,223) | -55% |
CURRENT ASSETS TOTAL | 26,118,425 | 22,579,886 | 3,538,539 | 16% |
TOTAL ASSETS | 555,930,129 | 454,649,038 | 101,281,090 | 22% |
CURRENT LIABILITIES | ||||
Trade and other payables | 28,314,744 | 47,212,962 | (18,898,217) | -40% |
Loans and borrowings | 12,656,670 | - | 12,656,670 | 0% |
Lease liabilities | 737,142 | 702,461 | 34,680 | 5% |
Obligations under finance leases | 1,701,014 | 1,843,729 | (142,714) | -8% |
Grants received | 1,006,456 | 766,040 | 240,416 | 31% |
Tax liability | - | - | - | - |
Provisions | 5,424,833 | 10,045,567 | (4,620,734) | -46% |
CURRENT LIABILITIES TOTAL | 49,840,860 | 60,570,757 | (10,729,898) | -18% |
NON-CURRENT LIABILITIES | ||||
Non-current trade and other liabilities | - | - | - | - |
Other liabilities | 6,291,439 | - | 6,291,439 | 0% |
Loans and borrowings | 75,940,020 | - | 75,940,020 | 0% |
Lease liabilities | 4,579,492 | 4,937,224 | (357,733) | -7% |
Obligations under finance leases | 1,787,978 | 2,555,458 | (767,480) | -30% |
Grants received | 8,952,334 | 6,735,832 | 2,216,502 | 33% |
Deferred tax | 3,004,628 | 3,004,628 | 0 | 0% |
Provisions | 2,848,866 | 2,848,866 | 0 | 0% |
NON-CURRENT LIABILITIES TOTAL | 103,404,757 | 20,082,009 | 83,322,748 | 415% |
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Cemacon SA published this content on 31 August 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 31 August 2023 15:37:06 UTC.