MED LIFE S.A. MED LIFE GROUP
CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED DECEMBER 31, 2022
PREPARED IN ACCORDANCE WITH INTERNATIONAL FINANCIAL REPORTING STANDARDS AS
ADOPTED BY EUROPEAN UNION
Name of the issuing company: MED LIFE S.A. | |
Registered Office: Bucharest, 365 Calea Griviței, district 1, Romania | |
Fax no.: 0040 374 180 470 | |
Unique Registration Code at the National Office of Trade Registry: 8422035 | |
Order number on the Trade Registry: J40/3709/1996 | |
Subscribed and paid-in share capital: RON 33,217,623 | |
Regulated market on which the issued securities are traded: Bucharest Stock Exchange | |
CONTENTS: | PAGE: |
CONSOLIDATED STATEMENT OF FINANCIAL POSITION | 2 |
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME | 3 |
CONSOLIDATED STATEMENT OF CASH FLOWS | 4 |
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY | 5-6 |
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS | 7 - 62 |
The English version of the consolidated financial statements represents a translation of the original consolidated financial statemetns issued in Romanian language.
MED LIFE GROUP
CONSOLIDATED STATEMENT OF FINANCIAL POSITION AS AT DECEMBER 31, 2022
(all amounts are expressed in RON, unless otherwise specified)
December 31, | January 1, | ||
Note | 2022 | 2022 | |
ASSETS | |||
Non-current Assets | |||
Goodwill | 4 | 368,672,606 | 199,679,613 |
Intangible assets | 5 | 100,192,265 | 60,556,655 |
Property, plant and equipment | 5 | 828,501,060 | 552,206,613 |
Right-of-use asset | 13,14 | 306,413,389 | 190,715,602 |
Other financial assets | 5.4 | 82,810,704 | 31,610,586 |
Total Non-Current Assets | 1,686,590,024 | 1,034,769,069 | |
Current Assets | |||
Inventories | 6 | 98,770,370 | 74,229,585 |
Trade Receivables | 7 | 221,358,860 | 140,356,238 |
Other assets | 7 | 44,362,334 | 24,357,735 |
Cash and cash equivalents | 8 | 89,068,154 | 135,858,888 |
Prepayments | 9 | 11,826,587 | 8,030,713 |
Total Current Assets | 465,386,305 | 382,833,159 | |
TOTAL ASSETS | 2,151,976,329 | 1,417,602,228 | |
LIABILITIES & SHAREHOLDER'S EQUITY | |||
Non-Current Liabilities | |||
Lease liability | 13,14 | 225,175,340 | 149,685,246 |
Other long term debt | 21,657,277 | 7,546,394 | |
Interest-bearing loans and borrowings | 14 | 803,273,659 | 440,840,484 |
Deferred tax liability | 26 | 44,250,160 | 23,559,617 |
Total Non-Current Liabilities | 1,094,356,436 | 621,631,741 | |
Current Liabilities | |||
Trade and other payables | 10 | 335,356,742 | 224,242,318 |
Overdraft | 14 | 27,801,016 | 25,493,223 |
Current portion of lease liability | 13,14 | 77,141,698 | 52,586,827 |
Current portion of interest-bearing loans and borrowings | 14 | 55,695,054 | 58,455,422 |
Current tax liabilities | 26 | 814,508 | 1,467,625 |
Provisions | 12 | 9,783,326 | 7,992,337 |
Other liabilities | 11 | 68,989,304 | 44,328,176 |
Total Current Liabilities | 575,581,648 | 414,565,928 | |
TOTAL LIABILITIES | 1,669,938,084 | 1,036,197,669 | |
SHAREHOLDER'S EQUITY | |||
Share capital and Share premium | 15 | 83,812,556 | 82,395,091 |
Treasury shares | (3,219,219) | (4,015,977) | |
Reserves | 17 | 204,591,242 | 137,335,499 |
Retained earnings | 131,596,255 | 122,394,796 | |
Equity attributable to owners of the Group | 416,780,834 | 338,109,409 | |
Non-controlling interests | 18 | 65,257,411 | 43,295,149 |
TOTAL EQUITY | 482,038,245 | 381,404,558 | |
TOTAL LIABILITIES AND EQUITY | 2,151,976,328 | 1,417,602,227 | |
Mihail Marcu, | Alina Irinoiu, | ||
CEO | CFO |
The accompanying notes are an integral part of the consolidated financial statemetns. | page 2
The English version of the consolidated financial statements represents a translation of the original consolidated financial statemetns issued in Romanian language
MED LIFE GROUP
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED DECEMBER 31, 2022
12 months ended December 31,Note
2022
2021
Revenue from contracts with customers Other operating revenues
Operating Income
Consumable materials and repair materials Third party expenses
19 20
1,795,432,748 14,118,061 1,809,550,809
1,427,218,373 10,362,989 1,437,581,362
(311,233,127) (234,425,408)
21
(468,196,458) (380,388,868)
Salary and related expenses Social contributions Depreciation and amortization
23
(442,897,905) (333,837,004)
23
(15,852,088) (12,214,486)
5,13
(152,410,751) (113,760,199)
Impairment losses and gains (including reversals of impairment losses)
Commodities expenses Other operating expenses Operating expenses Operating Profit Finance cost
Other financial expenses Financial result Result Before Taxes Income tax expense Net Result
Owners of the Group Non-controlling interests
Earnings per share
Basic and diluted earnings per share
Other comprehensive income items that will not be reclassified to profit or loss
Revaluation of land and buildings
Deferred tax on other comprehensive income TOTAL OTHER COMPREHENSIVE INCOME
Total other comprehensive income attributable Owners of the Group
Non-controlling interests
TOTAL COMPREHENSIVE INCOME
Total comprehensive income attributable to: Owners of the Group
Non-controlling interests
5.4
,7 22
(4,851,599) (5,269,269)
(209,975,320) (106,225,169)
(109,903,888) (79,609,056)
(1,715,321,136)
(1,265,729,459)
94,229,673
171,851,903
24 24 24 26
(42,489,150) (27,451,079)
(2,183,221) (8,981,263)
(44,672,371) (36,432,342)
49,557,301 (12,124,746)
135,419,561 (22,506,352)
37,432,555 112,913,209
32,173,072 102,613,932
18
5,259,483 10,299,277
16
0.24
5 26
66,292,412 (10,606,786) 55,685,626
54,012,309 1,673,317
0.77
- - -
- -
93,118,181 112,913,209
86,185,381 102,613,932
18
6,932,799 10,299,277
Mihail Marcu, CEO
Alina Irinoiu, CFO
The accompanying notes are an integral part of the consolidated financial statemetns. | page 3
The English version of the consolidated financial statements represents a translation of the original consolidated financial statemetns issued in Romanian language
MED LIFE GROUP
CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED DECEMBER 31, 2022
12 months ended December 31,Note
2022
2021
Net profit before taxes
Adjustments for Depreciation and amortization Provisions for liabilities and charges Interest revenue
Interest expense
26
49,557,301 135,419,561
5,13
152,410,751 113,760,199
12
24
625,545 (1,261,843)
782,843 (149,944)
24
42,489,150 27,451,079
Allowance for doubtful debts and receivables written-off Other non-monetary gains
Unrealized exchange loss
Operating cash flow before working capital changes
5.4, 7
4,851,599 5,269,269
20
(6,671,334) 3,501,567
245,502,736
(4,464,820) 9,076,658
287,144,845
Decrease / (increase) in accounts receivable
Decrease / (increase) in inventories Decrease / (increase) in prepayments Increase / (decrease) in accounts payable
Cash generated from working capital changes Cash generated from operations
Income Tax Paid
Interest Paid Interest received
Net cash from operating activities
Acquisition of subsidiary net of cash acquired and advances for acquisition of subsidiaries
Purchase of intangible assets
Purchase of property, plant and equipment
(36,113,767) (6,506,380)
(12,198,174) (5,902,852)
156,186 31,216,630
(16,939,126) 228,563,610
(863,594) 8,752,697
(4,520,129) 282,624,716
26
(12,832,118) (26,557,162)
(32,377,399) (28,820,100)
1,261,843 184,615,936
149,944 227,397,398
4,27
(316,554,749) (52,504,735)
5 5
(20,243,591) (5,385,050) (149,107,846) (91,525,535)
Net cash used in investing activities (485,906,186) (149,415,320)
Proceeds from loans Payment of loans
Payment of principal portion of lease liabilities Dividends paid to NCI
Payments for purchase of treasury shares Additional participation interest acquired *
Net cash from/(used in) financing activities
14
411,844,392
84,203,084
14
(73,446,528) (56,241,155)
14
(69,381,987) (46,653,956)
18
(136,861)
(70,000)
15
(7,851,825) (3,669,570)
27
(6,527,676) (1,661,990)
254,499,516 (24,093,587)Net change in cash and cash equivalents
Cash and cash equivalents beginning of the period
Cash and cash equivalents end of the period
(46,790,734) 53,888,491
135,858,888 81,970,397
8
89,068,154
135,858,888
*The comparative figures as of December 31, 2021 have been reclassified in accordance with the presentation adopted in 2022. The amount of RON 1,661,990 included as of December 31, 2021 in the category "Net cash used in investing activities" is now presented in the category "Net cash from/(used in) financing activities"
Mihail Marcu, CEO
Alina Irinoiu, CFO
The accompanying notes are an integral part of the consolidated financial statemetns. | page 4
The English version of the consolidated financial statements represents a translation of the original consolidated financial statemetns issued in Romanian language
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Med Life SA published this content on 27 March 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 March 2023 22:18:11 UTC.
