Separate preliminary financial statements for the

12-month period ended December 31, 2021 (unaudited)

Prepared in accordance with

Minister of Finance no. 2844/2016 for the approval of the Accounting Regulations compliant with the International Financial Reporting Standards adopted by the European Union

ELECTROMAGNETICA SA

CONTENTS

PRELIMINARY SEPARATE STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME

PRELMINARY SEPARATE STATEMENT OF FINANCIAL POSITION

PRELIMINARY SEPARATE STATEMENT OF CASH FLOWS

PRELIMINARY SEPARATE STATEMENT OF CHANGES IN EQUITY

NOTES TO THE PRELIMINARY SEPARATE FINANCIAL STATEMENTS

PAGE

2

3

4

5

7

1

ELECTROMAGNETICA SA

PRELIMINARY SEPARATE STATEMENT OF PROFIT OR LOSS AND

OTHER COMPREHENSIVE INCOME

FOR THE 12- MONTH PERIOD ENDED DECEMBER 31,2021 (UNAUDITED) (all amounts are expressed in RON,unless otherwise specified)

Q4Q4

20212020

64,799,148 70,298,051

4,10861,201

3,309,833 8,431,060

1,428,891 1,563,228

Year

Year

Note

2021

2020

Revenues

4.1

340,745,893

283,151,730

Investment income

338,665

932,082

Other net income and

3,909,884

10,794,514

expenses

Changes in inventories of

finished goods and work in

6,672,706

7,934,317

progress

2,434,910

-44,765,473-8,573,864-2,018,241-12,212,332-346,857

4,060,124

524,305

4,584,429

91,032

-54,359,834-7,884,769-2,285,771-12,503,792-3,313,094

97,313

680,783

778,096

Own work capitalized

Raw materials and consumables used

Employee-related expenses

Expenses related to depreciation and impairment

Other expenses

Financial expenses

Loss/Profit before tax

Income tax

Loss/Profit of the period

Other comprehensive income:

of which:

Other comprehensive income thatcannot be reclassified to profit or loss, of which:

3,978,888

-293,207,949-32,660,256-8,789,780

-36,614,462

-1,193,187

-16,819,598

706,132

-16,113,467

1,481,686

-219,528,624-30,490,094-10,199,234-37,943,201

-3,947,166

2,186,009

138,292

2,324,301

47,508,201-

-7,601,312-

310,169-

44,801,487 778,096

  • Revaluation surplus for tangible assets
  • Deferred tax recognized in equity
  • Restatement of deferred tax for revaluation of assets written off

Rezultat global al perioadei

47,508,201-

-7,601,312-

311,570338

24,104,992 2,324,639

These preliminary separate financial statements were approved for issue by the management as at February 17, 2022:

EUGEN SCHEUŞAN

CRISTINA FLOREA

Managing Director

Economic Manager

2

ELECTROMAGNETICA SA

PRELIMINARY SEPARATE STATEMENT OF FINANCIAL POSITION

AS AT DECEMBER 31,2021 (UNAUDITED)

(all amounts are expressed in RON, unless otherwise specified)

December 31,

December 31,

Note

2021

2020

ASSETS

Non-current assets

Property,plant and equipment

4.2

319,558,500

275,703,825

Investment property

4.2

14,649,783

11,114,654

Intangible assets

4.2

141,598

291,521

Investments in related entities

841,908

841,408

Other long-term non current assets

4.2

14,540,480

19,804,010

Assets related to the rights of use

1,433,898

2,085,114

Total non-current assets

351,166,167

309,840,532

Current assets

Inventories

4.2

18,121,309

13,402,675

Trade receivable

4.2

71,277,365

58,611,348

Cash and cash equivalents

4.2

2,923,410

20,108,460

Other current assets

2,069,666

1,882,350

Current tax assets

599,937

949,937

Total current assets

94,991,688

94,954,770

Total assets

446,157,855

404,795,302

EQUITY AND LIABILITIES

Equity

Share capital

67,603,870

67,603,870

Reserves and other equity

4.2

216,140,275

176,146,894

Retained earnings

4.2

75,584,806

91,473,196

Total equity attributable to company's

shareholders

359,328,951

335,223,960

Non-current liabilities

Trade payables and other liabilities

1,737,076

1,168,772

Investment subsidies

4,083,869

4,247,088

Deferred tax liabilities

4.2

23,318,956

16,735,345

Leasing debts

794,234

1,312,782

Total non-current liabilities

29,934,135

23,463,987

Current liabilities

Trade payables and other liabilities

4.2

53,709,372

42,982,576

Investment subsidies

163,219

163,219

Provisions

2,341,163

2,156,891

Current income tax liabilities

-

-

Leasing debts

681,015

804,669

Total current liabilities

56,894,768

46,107,356

Total liabilities

86,828,904

69,571,343

Total equity and liabilities

446,157,855

404,795,302

These preliminary separate financial statements were approved for issue by the management as at February 17, 2022:

EUGEN SCHEUŞAN

CRISTINA FLOREA

Managing Director

Economic Manager

3

ELECTROMAGNETICA SA

PRELIMINARY SEPARATE STATEMENT OF CASH FLOWS

FOR THE 12-MONTH PERIOD ENDED DECEMBER 31,2021 (UNAUDITED)

(all amounts are expressed in RON,unless otherwise specified)

Q

Q4

Anul

Anul

2021

2020

2021

2020

Cash flows from operating activities:

66,981,924 -49,757,087-7,616,281-17,863,974

-8,255,418

-152,958

-8,408,376

-47,652

-

4,244

-

-43,407

18,020,684

-10,404,352-267,145-15,918-4,834

7,328,435

-1,123,348

4,046,759

2,923,410

62,700,106 -48,126,632-7,339,340-5,767,879

1,466,256

-904

1,465,353

-69,597

46,529

72,916

-

49,847

9,009,584

-9,009,584-317,437-20,468 313,715

-24,190

1,491,010

18,617,450

20,108,460

Cash receipts from customers

Payments to suppliers

Payments to employees

Other operating activities

Cash generated by/ (used in) operating activities

Interest paid

Income tax paid

Net cash used in operating activities

Cash flows from investing activities: Acquisition of property, plant and equipment

Proceeds from sale of non-current-assets Interest received

Dividends received

Net cash used in investing activities

Cash flows from financing activities:

Proceeds from loans

Cash repayments of amounts borrowed

Paid leasing

Interest paid

Dividends paid

Net cash used in financing activities

Net (decrease)/increase of cash and cash equivalents

Cash and cash equivalents at beginning of period

Cash and cash equivalents at end of period

306,040,320 -280,003,053-30,902,954-31,107,741

-35,973,428

-380,531

-

-36,353,959

-922,052

25,000

48,029

291,009

-558,014

95,904,347

-75,002,540-1,078,259-74,089-22,536

19,726,923

-17,185,050

20,108,460

2,923,410

269,512,673 -213,497,721-30,210,304-23,666,376

2,138,273

-25,010-649,137

1,464,125

-844,660

46,529

298,949

637,245

138,063

43,070,898

-43,070,898-1,250,651-83,838-1,870,422

-3,204,911

-1,602,723

21,711,183

20,108,460

These preliminary separate financial statements were approved for issue by the management as at February 17, 2022:

EUGEN SCHEUŞAN

CRISTINA FLOREA

Managing Director

Economic Director

4

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ELECTROMAGNETICA SA published this content on 18 February 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 18 February 2022 06:50:09 UTC.