PREFAB S.A. PREFAB S.A. BUCURESTI
Preliminary individual financial statements prepared in accordance with the International Financial Reporting Standards - for the year ended on 31.12.2021
(the amounts are expressed in RON)
Preliminary situation of financial position
on 31st December 2021
Name of indicators | 31.12.2020 | 31.12.2021 | |||||||||
1. Fixed assets, out of | 214.903.384 | 207.794.752 | |||||||||
which: | |||||||||||
1.1 | Intangible assets | 14.798 | 27.443 | ||||||||
1.2 | Tangible assets | 211.752.496 | 204.592.255 | ||||||||
1.3 | Real estate investments | 2.959.000 | 2.999.000 | ||||||||
1.4 | Biological assets | 8.121 | 7.085 | ||||||||
1.5 | Financial assets | 168.969 | 168.969 | ||||||||
2. | Current assets, total | 45.226.938 | 56.051.903 | ||||||||
out of which | |||||||||||
2.1 Stocks | 14.244.880 | 24.076.052 | |||||||||
2.2 Trade receivables | 30.228.394 | 31.550.900 | |||||||||
2.3 Cash and cash equivalents | 753.664 | 424.951 | |||||||||
3. Expenses in advance | 431.330 | 389.693 | |||||||||
Total Assets | 260.561.652 | 264.236.348 | |||||||||
4. Own capitals | 31.12.2020 | 31.12.2020 | |||||||||
4.1 | Subscribed and paid share | 24.266.709 | 24.266.709 | ||||||||
capital | |||||||||||
4.2 | Adjustment of share capital | 0 | 0 | ||||||||
(IAS 29) | |||||||||||
4.3 | Other components of the | (470.673) | (464.592) | ||||||||
own capital | |||||||||||
4.4 | Share premiums | 14.305.342 | 14.305.342 | ||||||||
4.5 | Revaluation reserves | 117.173.624 | 117.173.624 | ||||||||
4.6 | Legal reserves | 4.952.420 | 5.574.155 | ||||||||
4.7 | Other reserves | 34.529.441 | 35.850.851 | ||||||||
4.8 | Own shares | 0 | 0 | ||||||||
4.9 | Reported result (117) | 9.552.175 | 9.552.175 | ||||||||
4.10 | Reported result (118) | 0 | 0 | ||||||||
4.11 Profit or loss of period | 6.104.836 | 10.830.863 | |||||||||
4.12 | Distribution of profit | (415.418) | (621.735) | ||||||||
Total of own capitals | 209.998.456 | 216.468.392 | |||||||||
5. Subsidies for investments | 4.518.302 | 4.013.507 | |||||||||
6. Long-term liabilities, out | 11.457.057 | 5.631.750 |
PREFAB S.A. BUCURESTI
Preliminary individual financial statements prepared in accordance with the International Financial Reporting Standards - for the year ended on 31.12.2021
(the amounts are expressed in RON)
of which: | |||
1. Amounts due to credit | 10.986.384 | 5.167.158 | |
institutions and other liabilities | 470.673 | 464.592 | |
2. Other debts | |||
Current debts, out of which: | 34.587.837 | 38.123.699 | |
1. | Trade debts and other type | 7.188.419 | 20.560.130 |
of debts | |||
2. | Amounts due to credit | 25.600.000 | 16.154.176 |
institutions | |||
3. | Debts of current taxes | 1.799.418 | 1.409.393 |
TOTAL LIABILITIES: | 260.561.652 | 264.236.348 |
Chairman of the Board of Directors, | Economic Manager, |
Eng. Milut Petre Marian | Ec. Boitan Daniela |
PREFAB S.A. BUCURESTI
Preliminary individual financial statements prepared in accordance with the International Financial Reporting Standards - for the year ended on 31.12.2021
(the amounts are expressed in RON)
Profit and loss account - preliminary on 31st December 2021
Name of indicators | 31.12.2020 | 31.12.2021 | ||
1.1 | Net turnover | 88.352.526 | 99.068.430 | |
1.2 | Changes in inventories of | 3.086.192 | 11.129.760 | |
finished goods and production in | ||||
progress | ||||
1.3 | Incomes from production of | 0 | 28.469 | |
tangible assets | ||||
1.4 | Incomes from real estate | 106.000 | 61.000 | |
investments | ||||
1.5 | Others incomes | 1.715.957 | 975.246 | |
1. | OPERATING INCOMES - | 93.260.675 | 111.262.905 | |
TOTAL | ||||
2.1 | Raw materials and | 34.274.076 | 39.041.761 | |
consumables used | ||||
2.2 | Other external expenses (for | 8.030.794 | 23.902.778 | |
energy and water) | ||||
2.3 | Employee benefits expense | 13.239.622 | 15.644.693 | |
2.4 | Depreciation and amortization | 10.238.523 | 9.412.441 | |
expenses | ||||
2.5 | Other expenses | 7.543.625 | 9.457.626 | |
2. | OPERATING EXPENSES - | 73.326.640 | 97.459.299 | |
TOTAL | ||||
3. | OPERATING PROFIT OR | 19.934.035 | 13.803.606 | |
LOSS | ||||
4. | Financial incomes | 343.233 | 67.758 | |
5. | Financial expenses | 11.586.156 | 1.235.651 | |
6. FINANCIAL PROFIT OR | (11.242.923) | (1.167.893) | ||
LOSS | ||||
7. | Total incomes | 93.603.908 | 111.330.663 | |
8. | Total expenses | 84.912.796 | 98.694.950 | |
9. GROSS PROFIT | 8.691.112 | 12.635.713 | ||
10. | Profit tax | 2.586.276 | 1.804.850 | |
11. NET PROFIT | 6.104.836 | 10.830.863 |
Like the year 2020, the year 2021 can be characterized too as a difficult and unusual year. The health crisis caused by SARS-COV2 was joined by the energy crisis, which almost tripled
PREFAB S.A. BUCURESTI
Preliminary individual financial statements prepared in accordance with the International Financial Reporting Standards - for the year ended on 31.12.2021
(the amounts are expressed in RON)
the prices at the end of the year for electricity and gas, with considerable economic consequences and dysfunctions caused to the business environment. In order to overcome the difficulties, the company has adopted strategies that will allow it to go through this period, based on adaptability, flexibility as well as prudence regarding the managerial act.
Even if, on the whole, in the construction sector the trend has remained at a normal level (especially for the AAC product), the market demand for certain products and in certain time intervals has been influenced by the evolution of the number of cases of infections and by the restrictions imposed by the authorities for the prevention of diseases. As a result, the company's priorities have changed in the sense that the health and physical well-being of employees, customers and partners has come first. At the same time, we tried to offer our employees, clients and collaborators simpler solutions for working through the digital environment.
Regarding the market of prefabricated reinforced concrete and prestressed concrete, electric poles, highway elements, prefabricated parts for hyper or supermarkets, beams for road bridges, it is still affected by the lack of large projects for national infrastructure and lack of labor qualified, on the market maintaining the same low level, especially due to the financial blockages in the national investment field. For the AAC product, the market was at a normal level.
The economic climate is still characterized by excessive and changing taxation, cumbersome legislation, exaggerated bureaucracy in obtaining permits and authorizations necessary for operation, currency risk with influence in the price of raw materials and materials.
The turnover registered in 2021 is increasing by 12.12 % compared to the one registered in 2020, the increase of this indicator being mainly due to the optimization of the production processes and the attraction of new clients in the portfolio by expanding the market.
The operating result in 2021 is in the amount of 13.803.606 lei, compared to 19.934.035 lei, registered in 2020. The decrease is due to the increase of the production costs as a result of the increase in prices for raw materials, materials, fuel and especially the increase in energy costs (gas and electricity), which impacted the margins obtained.
The financial result registered in 2021 is in the amount of -1.167.893 lei, increasing compared to -11.242.923 lei registered in 2020, when the company has adjusted the financial expenses of the value of the securities held in Fotbal Club Prefab SA to the level of their recoverable value, as provided in IAS 36 "Impairment of assets". The dissolution and liquidation procedure of this company, in which PREFAB SA holds the majority stake, respectively 99.87% of the capital, was completed at the end of 2021.
On 31.12.2021 total revenues in the amount of 111.330.663 lei were realized, representing 118.93% compared to the revenues realized in the same period of 2020 and total expenses in the amount of 98.694.950 lei, representing 116.23% compared to the expenses realized in the same period of the year 2020. In these conditions the gross result of the activity for the year 2021 is in the amount of 12.635.713 lei, and the net profit is in the amount of 10.830.863 lei.
The value of fixed assets decreased by 3.30%, from 214.903.384 lei (31.12.2020) to 207.794.752 lei (31.12.2021), a decrease due to depreciation of the positions: land and construction, technical installations and machines, other installations, equipment and furniture.
PREFAB S.A. BUCURESTI
Preliminary individual financial statements prepared in accordance with the International Financial Reporting Standards - for the year ended on 31.12.2021
(the amounts are expressed in RON)
The value of current assets and other assets increased by 23.61%, from 45.658.268 lei (31.12.2020) to 56.441.596 lei (31.12.2021), while the net current asset increased from 10.309.476 lei (31.12.2020) to 17.813.102 lei registered on 31.12.2021.
The total debts of the company decreased by 4.97%, from 46.044.894 lei (31.12.2020) to 43.755.449 lei (31.12.2021), the decrease would have been much higher if the energy crisis had not started. The increase of the indicator is due to the repayments of bank loans made during this period
Chairman of the Board of Directors, | Economic Manager, |
Eng. Milut Petre Marian | Ec. Boitan Daniela |
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Prefab SA published this content on 15 February 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 15 February 2022 06:36:01 UTC.
