Vrancart S A : 2021 Preliminary financial results

Translation for information purposes only

VRANCART

INDIVIDUAL PRELIMINARY FINANCIAL RESULTS

for the financial year ended on December 31st, 2021

Note:

The preliminary financial results presented in this document are individual results, being reported in accordance with the Public Finance Ministry Order no. 2844/2016 as subsequently amended, which is in compliance with the International Financial Reporting Standards (IFRS) adopted by the European Union.

The individual preliminary financial results are not audited, this process being ongoing. As a result, the final and audited financial statements for 2021 may differ from these.

The functional and presentation currency is the Romanian leu (RON).

Content

Individual statement of financial position	3
Individual situation of the overall result	4
Individual statement of changes in equity capital	5
Individual cash flow statement	6
Notes to the preliminary individual financial statements	7-8

Vrancart

Individual statement of financial position

as of December 31st, 2021

(all the amounts are expressed in RON, unless otherwise stated)

	December 31st,	December 31st,
Nota	2021	2020

ASSETS

Tangible assets

5

Intangible assets

Goodwill

Financial assets

Total non-current assets

Inventories	6
Trade receivables	7
Accrued expenses
Cash and cash equivalents
Receivables related to current income tax
Other receivables	9
Total current assets
TOTAL ASSETS
EQUITY
Share capital	10
Reserves	10
Retained earnings
Total equity
LIABILITIES
Long-term loans	13
Long-term loans from bond issues
Long-term leasing debts
Advance income	16
Long-term debts to employees	15
Debts related to deferred profit tax
Other long-term liabilities
Total long-term liabilities
Short-term trade liabilities	11
Short-term loans	13
Short-term leasing debts
Advance income	16
Debts to employees
Debts related to current profit tax
Other debts	12
Total current liabilities
TOTAL LIABILITIES
TOTAL EQUITY AND LIABILITIES

300,076,410 285,408,521

1,379,680 1,446,228

3,380,811 3,380,811

45,566,328 29,966,328

350,403,229 320,201,888

59,552,570 42,055,540

84,112,306 64,666,084

517,486761,374

1,536,938 4,332,741

83,938-

2,820,729 986,228

148,623,967 112,801,967

499,027,196 433,003,855

120,363,080 103,168,355

116,615,876 115,711,008

11,245,008 12,387,267

248,223,964 231,266,630

47,751,510 43,766,905

37,949,400 37,627,000

17,768,484 10,525,739

9,454,417 10,627,998

422,307 453,855

4,145,666 4,275,495

323,422 645,822

117,815,206 107,922,814

61,919,951 26,573,457

54,642,483 50,172,836

5,864,025 4,011,256

1,593,218 2,522,385

4,511,986 4,904,713

• 960,442
  4,456,363 4,669,322

132,988,026 93,814,411

250,803,232 201,737,225

499,027,196 433,003,855

CIUCIOI Ionel-Marian	ARSENE Vasilica-Monica
General Manager	Financial Manager

3

Vrancart

Individual situation of the overall result

as of December 31st, 2021

(all the amounts are expressed in RON, unless otherwise stated)

		2021	2020
Turnover income of which:	17	387,017,600	286,476,932
Income from sale of goods		21,754,089	12,273,022
Other income	18	6,929,773	5,120,006
Change in stocks of finished goods and work in progress		9,525,599	(7,948,360)
Expenditure on raw materials and consumables		(229,269,419)	(124,223,310)
Expenditure on goods		(13,055,876)	(7,497,067)
Expenditure on services provided by third parties		(34,634,513)	(21,789,796)
Staff expenditure	20	(70,747,581)	(61,989,022)
Depreciation and impairment of fixed assets	5	(32,086,789)	(31,795,560)
Other expenses	19	(7,022,112)	(10,165,789)
Operational result		16,656,682	26,188,032
Financial income	21	421,246	821
Financial expenses	21	(4,611,181)	(5,422,241)
Profit / (Loss) before tax		12,466,747	20,766,612
Income / (expense) with income tax	22	(1,861,249)	(2,233,002)
Profit/(Loss) for the year		10,605,498	18,533,610
Other comprehensive income
Increases in the revaluation reserve for tangible fixed		-	-
assets, net of deferred tax
TOTAL OVERALL RESULT FOR THE YEAR		10,605,498	18,533,610

CIUCIOI Ionel-Marian	ARSENE Vasilica-Monica
General Manager	Financial Manager

4

Vrancart

Individual statement of changes in equity capital

as of December 31st, 2021

(all the amounts are expressed in RON, unless otherwise stated)

	Share capital	Reserves from	Other reserves	Reported result	Total equity
		revaluation of
		tangible fixed
		assets
Balance on January 1st, 2021	103,168,355	54,712,573	60,998,434	12,387,268	231,266,630
Overall result for the period
Net result for the period	-	-	-	10,605,498	10,605,498
Other comprehensive income
Capital increase	17,194,725	-	-	-	17,194,725
Allocation from retained earnings	-	-	2,067,605	(12,075,746)	(10,008,141)
Other changes	-	-	810	(96,612)	(95,802)
Changes in the revaluation reserve for tangible fixed	-	(738,947)	-	-	(738,947)
assets, net of deferred tax
Transfer of revaluation reserve to retained earnings
following sale/disposal of property, plant and	-	(424,600)	-	424,600	-
equipment
Total other comprehensive income	17,194,725	(1,163,547)	2,068,415	(11,747,758)	6,351,836
Total comprehensive income for the period	17,194,725	(1,163,547)	2,068,415	(1,142,260)	16,957,334
Balance on December 31st, 2021	120,363,080	53,549,026	63,066,849	11,245,008	248,223,964

CIUCIOI Ionel-Marian	ARSENE Vasilica-Monica
General Manager	Financial Manager

5