SIF Banat Crisana : Q1 2017 Report

Financial results for Q1 2017

Main financial and operational indicators for SIF Banat-Crișana as at March 31, 2017:

• Net asset value: RON 2,114.13 mn
• Carrying value of total assets: RON2,113.72 mn
• Equity: RON 1,959.48 mn
• Net profit: RON 5.4 mn
• Market capitalization: RON 1,057.08 mn

Net asset value, the main performance indicator for the company, had a positive progress during Q1 2017, recording a 10% increase as compared to the value reported for the end of 2016. Thus, the net asset value (NAV) reached RON 2.114,13 mn, and the unit net asset value per share (NAV/S) increased to RON4.0813 at the end of Q1 2017. The positive progress reflects an improvement in the allocation of resources, adding an increased value to the shareholders.

Carrying value of total assets as at March 31, 2017, amounting to RON 2,113.72 mn, is slightly higher than the value of assets at 2016-year end. Financial assets available for sale, amounting to RON 2,056 mn, with a weight of 97.3% of total assets under management, rose 2.4% as compared to December 31, 2016.

Income as at March 31, 2017 rose to RON 8.7 mn, 22% higher compared to the same period of the previous year, following the higher dividend income collected from portfolio companies.

Expenses recorded as at March 31, 2017, amounting to RON 3.3 mn, are slightly above those for the same period of the previous year, mostly due to the commissions expenses (mainly commissions paid to ASF, dependent on the net asset value).

Net profit as at March 31, 2017, amounting to RON 5.4 mn, is higher than the result for Q1 2016 (RON 4.3 mn).

The company strengthened its position as a constituent of BVB indices during Q1 2017, with a market capitalization reaching RON 1,057.08 mn as at March 31, 2017 (calculated using the closing price).

The SIF1 share price also rose significantly during the first three months of 2017, from RON 1.8600 on the first trading day of the year to RON 1.9260 at the end of Q1 2017, i.e. a growth of over 3.5%.

Quarterly Report (in complete form) prepared as at March 31, 2017, pursuant to the provisions of Law no. 297/2004, Regulation no. 15/2004, Regulation no. 1/2006, Norm no. 39/2015, and Law no. 24/2017, is made available to the public starting April 21, 2017, 08:30 hours, at company's headquarters and on the Internet, at www.sif1.ro.

Further information can be obtained from SIF Banat-Crișana's Investor relations Dept., tel/fax: +40257 304 446 / +40257 250 165, e-mail: comunicare@sif1.ro.