SC Cemacon : Sit Financiare_2022_EN

BSE REPORT

CLUJ-NAPOCA

ANNUAL RESULTS

2022

Calea Turzii nr.178K, Etaj 1,

Cluj-Napoca, România, PO: 400491

[e-mail]:www.cemacon.ro

12 Month Performance 2022

• 91.7 million lei operational profit (EBITDA)
• Net turnover: 221.4 million lei
• 133.9 million Cash at the end of the period

General Manager Statement

CEMACON achieved a very good financial performance in 2022, in the context of some important challenges (the war in Ukraine, the energy crisis, volatility in the construction market, uncertain macroeconomic perspectives), and also some major projects ongoing: setting up a new brick slips factory (over 13 million euros investiment) in Sălaj, as well as starting the acquisition procedure of a brick factory in Bihor county.

These results are the confirmation of the fact that the strategic management so far, the focus on technology, digitalization, sustainability and the development of human resources skills are correct premises to achieve performance in the industrial sector in which we operate.

We are motivated, at the management level, to continue the development of CEMACON, to expand and take advantage of new opportunities in the construction materials production area, to create new partnerships and to strengthen the existing ones, having the conviction that equitable and honest business relations are essential for the development of the business environment in Romania.

In 2023 we will respond to the market demands with energy efficient products, that will cover the quality, efficiency and comfort needs of the beneficiaries, but also with a new range of products intended for the aesthetic segment of buildings, educating and cultivating the appetite for an architecture of beauty and good taste.

Page 2 of 9

Calea Turzii nr.178K, Etaj 1,

Cluj-Napoca, România, PO: 400491

[e-mail]:www.cemacon.ro

Profit and loss Account - 12 Months Results 2022

In 2022, Cemacon managed to maintain the upward trend of business, registering a turnover of 221 million lei, a 26% increase compared to the previous year, a net result of 71.8 million lei and a profitability rate of 32.45%.

All these results came in an economic context quite difficult to anticipate, with many changes in the area of energy resources, the increase in interest rates and a generalized inflation. Not having predictability and stability of costs for electricity and gas, we managed to make the investment in the cogeneration plant, implemented in May 2021, fruitful.

Also in 2022, Cemacon received a non-refundable financing of 45% of the investment value, for a photovoltaic park with an installed power of 1 MWH, through the Norwegian Financial Mechanism 2014-2021, Program for Energy in Romania Call 3.1 'Increased supply capacity of renewable energy' The project is being implemented and we expect to benefit from this new investment in the 2nd half of 2023.

The production lines operated at capacity, with no major interruptions in the production flow, which allowed significant operatio nal synergies to be obtained, with a direct impact on the production cost and the company's profitability.

Evolution of Net Turnover & Net Result (million Lei)

												221.46
						Net Turnover lei		Net Result lei	176.02
					143.61
							125.25
		102.56
92.65
												71.86
											54.85
					34.10
13.23	18.92				22.54			31%	32%
18%		24%	18%
14%
	31-Dec-17		31-Dec-18		31-Dec-19		31-Dec-20	31-Dec-21		31-Dec-22

Page 3 of 9

Calea Turzii nr.178K, Etaj 1,

Cluj-Napoca, România, PO: 400491

[e-mail]:www.cemacon.ro

Profit and loss Account - 12 Months Results 2022

	31-Dec-22	31-Dec-21	2022 vs 2021	2022 vs 2021
	LEI	LEI	LEI	%
Gross Turnover	246,187,970	190,903,036	55,284,935	29%
Net Turnover	221,456,096	176,020,735	45,435,361	26%
Sales revenues	221,435,406	176,008,642	45,426,763	26%
Other operating revenues	11,489,841	9,582,675	1,907,167	20%
Other gains and losses	348,255	3,874,971	(3,526,716)	-91%
Change in inventories of FG & WIP	10,962,415	876,093	10,086,321	1151%
Raw materials and consumables	(40,303,581)	(29,843,988)	(10,459,593)	35%
Personnel expenses	(38,846,840)	(29,208,067)	(9,638,773)	33%
Other operating expenses	(76,123,732)	(59,874,808)	(16,248,924)	27%
EBITDA	91,740,331	74,722,091	17,018,240	23%
Depreciation and amortization expenses	(14,488,179)	(12,850,394)	(1,637,785)	13%
Income impairment of assets	-	-	-	0%
EBIT	74,473,585	58,565,125	15,908,459	27%
Financial Income	5,080,371	1,450,509	3,629,862	250%
Financial Expenses	(1,590,951)	(1,135,629)	(455,322)	40%
Financial result	3,489,420	314,880	3,174,540	1008%
Profit before tax*	77,963,005	58,880,006	19,082,999	32%
Income tax expenses	(6,104,868)	(4,029,057)	(2,075,811)	52%
Profit after tax	71,858,135	54,850,948	17,007,187	31%
Total other elements of other	(95,048)	17,228,069	(17,323,117)
Comprehensive income	-101%
Comprehensive income total	71,763,086	72,079,018	(315,932)	0%

* EBITDA = Operating profit + Expenses with depreciation + Financial discounts granted - Income impairment of non-current assets

Page 4 of 9

Calea Turzii nr.178K, Etaj 1,

Cluj-Napoca, România, PO: 400491

[e-mail]:www.cemacon.ro

Statement of financial position- Results 31 December 2022

	31-Dec-22	31-Dec-21	2022 vs 2021	2022 vs 2021
	LEI	LEI	LEI	%
NON-CURRENT ASSETS
Property, plant and equipment	203,699,307	156,211,126	47,488,180	30%
Investment property	8,885,960	8,885,960	-	0%
Intangible	1,131,377	1,555,775	(424,398)	-27%
Rights of use assets	17,026,366	18,496,865	(1,470,499)	-8%
Investments	1,000	1,000	-	0%
Other non-current assets	554,017	411,127	142,890	35%
NON-CURRENT ASSETS TOTAL	231,298,027	185,561,854	45,736,173	25%
CURRENT ASSETS
Inventories	22,579,886	13,075,235	9,504,650	73%
Trade and other receivables	50,248,650	17,064,942	33,183,708	194%
Other assets	16,612,591	11,330,612	5,281,979	47%
Cash and cash equivalents	133,909,885	84,223,350	49,686,535	59%
CURRENT ASSETS TOTAL	223,351,011	125,694,140	97,656,872	78%
TOTAL ASSETS	454,649,038	311,255,994	143,393,045	46%
CURRENT LIABILITIES
Trade and other payables	47,212,962	35,223,686	11,989,276	34%
Loans and borrowings	-	-	-	0%
Lease liabilities	702,461	645,008	57,453	9%
Obligations under finance leases	1,843,729	2,088,135	(244,407)	-12%
Grants received	766,040	621,092	144,948	23%
Tax liability	-	975,690	(975,690)	-100%
Provisions	10,045,567	11,096,948	(1,051,381)	-9%
CURRENT LIABILITIES TOTAL	60,570,757	50,650,559	9,920,197	20%
NON-CURRENT LIABILITIES
Non-current trade and other liabilities	-	-	-	0%
Loans and borrowings	-	-	-	0%
Lease liabilities	4,937,224	5,329,619	(392,394)	-7%
Obligations under finance leases	2,555,458	4,259,133	(1,703,675)	-40%
Grants received	6,735,832	6,885,531	(149,699)	-2%
Tax liability	3,004,628	3,756,047	(751,419)	-20%
Provisions	2,848,866	2,780,548	68,318	2%
NON-CURRENT LIABILITIES TOTAL	20,082,008	23,010,877	(2,928,870)	-13%

Page 5 of 9