MED LIFE S.A.
AUDITED INDIVIDUAL FINANCIAL STATEMENTS
FOR THE YEAR ENDED DECEMBER 31, 2022
PREPARED IN ACCORDANCE WITH ORDER OF THE MINISTRY OF PUBLIC FINANCE NO.
2844/2016 APPROVING THE ACCOUNTING REGULATIONS COMPLIANT WITH THE
INTERNATIONAL FINANCIAL REPORTING STANDARDS
The English version of the consolidated financial statements represents a translation of the original consolidated financial statemetns issued in Romanian language
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: |
STATEMENT OF FINANCIAL POSITION | 2 |
STATEMENT OF COMPREHENSIVE INCOME | 3 |
STATEMENT OF CASH FLOWS | 4 |
STATEMENT OF CHANGES IN EQUITY | 5-6 |
NOTES TO THE INDIVIDUAL FINANCIAL STATEMENTS | 7 - 51 |
The English version of the consolidated financial statements represents a translation of the original consolidated financial statemetns issued in Romanian language |
STATEMENT OF FINANCIAL POSITION AS AT DECEMBER 31, 2022 (all amounts are expressed in RON, unless otherwise specified)
MED LIFE S.A.
ASSETS Non-current Assets Intangible assetsDecember 31,Note
2022
January 1, 2022
Property, plant and equipment Right-of-use asset
Other financial assets
5 5 13, 14 4
14,665,892 9,895,358 342,815,667 244,673,659 71,911,269 68,420,689 413,831,251 257,432,358
Total Non-Current Assets 843,224,079 580,422,064
Current Assets
Inventories
6
12,513,597 10,038,916
Trade Receivables
Loans granted to related parties Other assets
Cash and cash equivalents Prepayments
7
66,525,981 56,744,097
23
162,430,816 106,337,549
7
18,251,900 25,421,897
8
15,141,431 38,629,900
9
2,674,932 2,608,350
Total Current Assets 277,538,657 239,780,709
TOTAL ASSETS
LIABILITIES & SHAREHOLDER'S EQUITY Non-Current Liabilities
Lease liability
Other long term debt Interest-bearing loans and borrowings Deferred tax liability
1,120,762,736 820,202,773
13, 14 14 14 24
50,184,177 50,129,780
12,651,217
-508,264,032 322,115,156 19,052,772 11,457,413
Total Non-Current Liabilities 590,152,198 383,702,349
Current Liabilities
Trade and other payables Overdraft
Current portion of lease liability
Current portion of interest-bearing loans and borrowings
Loans received from related parties Current tax liabilities
Provisions
Other liabilities
10
122,505,239 80,151,836
14
9,894,800 9,896,200
13
26,229,711 23,791,932
14
31,933,045 43,215,074
23
12,632,124 441,238
24
980,993 122,115
12
3,480,319 3,145,135
11
17,677,023 16,156,461
Total Current Liabilities 225,333,254 176,919,991
TOTAL LIABILITIES 815,485,452 560,622,340
SHAREHOLDER'S EQUITY
Share capital and Share premium Treasury shares
Reserves Retained earnings
15 15 16
83,812,556 82,395,091
(3,219,221)
(4,015,977)
141,003,106 101,127,471 83,680,844 80,073,849
TOTAL EQUITY 305,277,285 259,580,434
TOTAL LIABILITIES AND EQUITY
1,120,762,736 820,202,773
Mihail Marcu, CEO
Alina Irinoiu, CFO
The accompanying notes are an integral part of the indivudual financial statemetns. | page 2
The English version of the consolidated financial statements represents a translation of the original individual financial statemetns issued in Romanian language
MED LIFE S.A.
STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED DECEMBER 31, 2022
12 months ended December 31,Note
Revenue from contracts with customers 17
Other operating revenues 18
2022
2021
586,566,266 601,508,195 6,826,511 4,057,881
Operating Income 593,392,777 605,566,076
Consumable materials and repair materials
(81,748,854) (96,288,600)Third party expenses 19 (205,746,479) (179,709,262)
(173,443,751) (148,780,015)Salary and related expenses 21
Social contributions 21
Depreciation and amortization Impairment losses and gains (including reversals of impairment losses)
Other operating expenses
(6,090,747) (5,391,095)
5, 13
(57,865,833) (49,814,097)
(889,139) (4,934,093)
7 20
(44,119,711) (35,885,636)
Operating expenses (569,904,514) (520,802,798)
Operating Profit Finance income Finance cost
Other financial expenses
23,488,263
84,763,278
22 22 22
6,922,660
3,473,598
(21,855,297) (16,196,020) (2,752,063) (5,979,555)
Financial result (17,684,700) (18,701,977)Result Before Taxes Income tax expense Net Result
Other comprehensive income items that will not be reclassified to profit or loss
Revaluation of land and buildings Deferred tax on other comprehensive income components
TOTAL OTHER COMPREHENSIVE INCOME
TOTAL COMPREHENSIVE INCOME
24
5,803,563 (2,196,569) 3,606,994
16 24
47,470,993 (7,595,359)
39,875,634
43,482,628
66,061,301 (10,576,871) 55,484,430
- - -
55,484,430
MihailMarcu, CEO
Alina Irinoiu, CFO
The accompanying notes are an integral part of the indivudual financial statemetns. | page 3
The English version of the consolidated financial statements represents a translation of the original individual financial statemetns issued in Romanian language
MED LIFE S.A.
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 Interest expense
Allowance for doubtful debts and receivables written-off Provisions for liabilities and charges
5,803,563 66,061,301
5, 13
57,865,833 49,814,097
22
21,855,297 16,196,020
7
889,139 4,934,093
Other non-monetary gains Unrealised exchange loss Interest revenue
Operating cash flow before working capital changes
12
18
22
22
335,184 (3,612,057) 2,752,063 (6,922,660)
78,966,362
260,082 (2,276,421) 5,979,555 (3,473,598)
137,495,129
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
Net cash from operating activities
Purchase of investments
Payment of loans assigned from former shareholders Purchase of intangible assets
Purchase of property, plant and equipment Loans granted to Group Companies
(3,501,026) 15,102,443
(2,474,681) 3,185,097
(66,582) (1,282,688)
43,553,889 (16,181,351)
37,511,600 116,477,962
823,501 138,318,630
24 14
(1,337,691) (14,284,255)
(17,016,867) (17,750,515)
98,123,404
4 5 5 23
(149,251,414) (16,746,241)
106,283,860
(23,423,949)
-(10,712,880) (2,771,220) (70,010,600) (33,169,175) (20,271,938) (8,364,683)
Net cash used in investing activities (266,993,073) (67,729,027)
Payment of loans Lease payments Proceeds from loans
Payments for purchase of treasury shares
Increase/ (Decrease) from loans obtained from Group Companies
Net cash from/(used in) financing activities
14
14
(32,704,054) (40,519,720) (27,431,784) (22,934,963)
14
204,845,867
15
(7,851,828)
23
8,523,000 145,381,201
33,951,383 (3,669,570)
(487,509)
(33,660,379)
Net change in cash and cash equivalents
Cash and cash equivalents beginning of the period
Cash and cash equivalents end of the period
(23,488,469) 4,894,454
8
38,629,900 33,735,446
15,141,431
38,629,900
Mihail Marcu, CEO
Alina Irinoiu, CFO
The accompanying notes are an integral part of the indivudual financial statemetns. | page 4
The English version of the consolidated financial statements represents a translation of the original individual 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 28 March 2023 00:14:38 UTC.