Income Statement Armatura SA

Stocks

ARM

ROARMAACNOR7

Industrial Machinery & Equipment

End-of-day quote Bucharest S.E. Other stock markets 31/07/2026			5-day change	1st Jan Change
0.2980 ^RON	+1.36%		-.--%	-77.08%

13/05	Armatura SA Reports Earnings Results for the First Quarter Ended March 31, 2026	CI
23/04	Armatura SA Auditor Raises 'Going Concern' Doubt	CI

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Published financial data: ARMATURA SA

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2021	2022	2023	2024	2025
Revenues	27.68L	20.95L	18.22L	17.28L	9L
Total Revenues	27.68L	20.95L	18.22L	17.28L	9L
Cost of Goods Sold, Total	10L	4L	5L	3L	2L
Gross Profit	17.84L	16.65L	12.75L	14.53L	7L
Selling General & Admin Expenses, Total	14.68L	12.82L	12.82L	13.67L	15.35L
Depreciation & Amortization - (IS)	5L	-	-	5L	2L
Amortization of Goodwill and Intangible Assets - (IS)	-	8L	9L	-	-
Other Operating Expenses	12.81L	67.72T	-29.29T	-2L	-1L
Other Operating Expenses, Total	32.24L	21.25L	21.97L	16.93L	16.54L
Operating Income	-14.4L	-5L	-9L	-2L	-9L
Interest Expense, Total	-2L	-18.64T	-12.62T	-6.33T	-420
Interest And Investment Income	-	51.32T	4L	3L	1L
Net Interest Expenses	-2L	32.68T	4L	3L	1L
Currency Exchange Gains (Loss)	-6L	-40.69T	560	-477	-442
Other Non Operating Income (Expenses)	0	-4L	-	-	-1
EBT, Excl. Unusual Items	-22.58L	-9L	-5L	17.77T	-8L
Gain (Loss) On Sale Of Assets	1.87Cr	-	-	-	-
Legal Settlements	-	-	-	-	-
EBT, Incl. Unusual Items	1.65Cr	-9L	-5L	17.77T	-8L
Income Tax Expense	3L	23.81T	-8.45T	4.95T	27.29T
Earnings From Continuing Operations	1.62Cr	-9L	-5L	12.82T	-8L
Net Income to Company	1.62Cr	-9L	-5L	12.82T	-8L
Net Income - (IS)	1.62Cr	-9L	-5L	12.82T	-8L
Net Income to Common Incl Extra Items	1.62Cr	-9L	-5L	12.82T	-8L
Net Income to Common Excl. Extra Items	1.62Cr	-9L	-5L	12.82T	-8L
Per Share Items
Net EPS - Basic	0.4	-0.02	-0.01	0	-0.02
Basic EPS - Continuing Operations	0.4	-0.02	-0.01	0	-0.02
Basic Weighted Average Shares Outstanding	4Cr	4Cr	4Cr	4Cr	4Cr
Net EPS - Diluted	0.4	-0.02	-0.01	0	-0.02
Diluted EPS - Continuing Operations	0.4	-0.02	-0.01	0	-0.02
Diluted Weighted Average Shares Outstanding	4Cr	4Cr	4Cr	4Cr	4Cr
Normalized Basic EPS	-0.04	-0.01	-0.01	0	-0.01
Normalized Diluted EPS	-0.04	-0.01	-0.01	0	-0.01
Supplemental Items
EBITDA	-10.33L	26.17T	-9L	-2L	-9L
EBITA	-14.4L	-5L	-9L	-2L	-9L
EBIT	-14.4L	-5L	-9L	-2L	-9L
EBITDAR	-10L	26.78T	-9L	-2L	-
Effective Tax Rate - (Ratio)	1.72	-2.76	1.64	27.84	-3.46
Total Current Taxes	32.15L	-	-	-	-
Total Deferred Taxes	-29.32L	23.81T	-	-	-
Normalized Net Income	-14.11L	-5L	-3L	11.11T	-5L
Interest on Long-Term Debt	-	-	-	-	-
Supplemental Operating Expense Items
Advertising Expense	23.95T	16.73T	26.87T	21.26T	27.64T
Selling and Marketing Expenses	-	-	-	-	-
Net Rental Expense, Total	42.66T	611	69	26	-
Imputed Operating Lease Interest Expense	6.13T	115	12	3	-
Imputed Operating Lease Depreciation	36.54T	496	57	23	-
Maintenance & Repair Expenses, Total	73.46T	23.75T	40.82T	34.8T	39.87T

Fiscal Period: December	2021	2022	2023	2024	2025
Assets
Cash And Equivalents	7L	78.54L	74.4L	64.88L	63.02L
Short Term Investments	-	-	-	-	-
Total Cash And Short Term Investments	7L	78.54L	74.4L	64.88L	63.02L
Accounts Receivable, Total	1.18Cr	5L	5L	6L	3L
Other Receivables	48.77T	-	-	-	-
Total Receivables	1.18Cr	5L	5L	6L	3L
Inventory	1.48T	-	-	1.42T	400
Deferred Tax Assets Current	2L	2L	2L	2L	1L
Other Current Assets, Total	8.68T	-	-	-	-
Total Current Assets	1.26Cr	85.34L	81.12L	72.01L	67.22L
Gross Property Plant And Equipment	40.83L	34.97L	25.57L	44.96L	91.52T
Accumulated Depreciation	-26.47L	-30.05L	-17.32L	-43.84L	-74.39T
Net Property Plant And Equipment	14.37L	5L	8L	1L	17.13T
Other Intangibles, Total	294	-	-	-	-
Other Long-Term Assets, Total	-	-	-	-	-20
Total Assets	1.41Cr	90.25L	89.38L	73.12L	67.4L
Liabilities
Accounts Payable, Total	2L	2L	2L	23.34T	25.36T
Accrued Expenses, Total	79.7T	84.14T	1L	62.91T	-
Short-term Borrowings	-	-	-	-	-
Current Portion of Leases	8L	8.59T	4L	13.86T	442
Current Income Taxes Payable	32.15L	-	-	-	-
Other Current Liabilities	4L	3L	3L	3L	141
Total Current Liabilities	47.59L	6L	10L	4L	25.94T
Long-Term Leases	4L	4L	4L	-	-
Unearned Revenue Non Current	-	-	-	-	-
Deferred Tax Liability Non Current	-	-	-	-	-
Other Non Current Liabilities	-	-	-	-	-
Total Liabilities	51.51L	10L	13.94L	4L	25.94T
Common Stock, Total	1.81Cr	1.81Cr	1.81Cr	1.81Cr	40L
Retained Earnings	-1.05Cr	-1.14Cr	-1.19Cr	-1.25Cr	-1.27Cr
Comprehensive Income and Other	13.04L	13.04L	13.04L	13.04L	1.54Cr
Total Common Equity	89.35L	80.5L	75.43L	69.46L	67.14L
Total Equity	89.35L	80.5L	75.43L	69.46L	67.14L
Total Liabilities And Equity	1.41Cr	90.25L	89.38L	73.12L	67.4L
Supplemental Items
ECS Total Shares Outstanding on Filing Date	4Cr	4Cr	4Cr	4Cr	4Cr
ECS Total Common Shares Outstanding	4Cr	4Cr	4Cr	4Cr	4Cr
Book Value / Share	0.22	0.2	0.19	0.17	0.17
Tangible Book Value	89.35L	80.5L	75.43L	69.46L	67.14L
Tangible Book Value Per Share	0.22	0.2	0.19	0.17	0.17
Total Debt	11.89L	4L	8L	13.86T	442
Net Debt	5L	-74.53L	-66.42L	-64.74L	-63.01L
Debt Equivalent Oper. Leases	3L	4.89T	552	208	-
Account Code - Inventory Valuation	5	3	3	3	3
Inventories - Raw Materials, Total	1.48T	-	-	1.02T	-
Inventories - Work In Process, Total	-	-	-	-	-
Inventories - Finished Goods, Total	-	-	-	-	-
Inventories - Others	-	-	-	400	400
Land - (BS)	-	-	-	-	-
Machinery, Total	28.61L	22.74L	1L	22.89L	91.52T
Full Time Employees	12	7	8	6	2
Accumulated Allowance for Doubtful Accounts (Supple)	7L	-	-	-	-

Fiscal Period: December	2021	2022	2023	2024	2025
Net Income	1.62Cr	-9L	-5L	12.82T	-8L
Depreciation & Amortization - CF	4L	8L	9L	5L	2L
Depreciation & Amortization, Total	4L	8L	9L	5L	2L
Amortization of Deferred Charges, Total - (CF)	1.2T	-	-	-	-
(Gain) Loss From Sale Of Asset	-1.87Cr	-	-	-	-
Asset Writedown & Restructuring Costs	-	-	38.15T	-	-
Provision and Write-off of Bad Debts	-15.56T	-	-	-	-
Other Operating Activities, Total	-39.31T	73.6L	-1L	1L	7L
Change In Accounts Receivable	-10.43L	-	-	-	-
Change In Inventories	19.12L	-	-	-	-
Change In Accounts Payable	8L	-	-	-	-
Cash from Operations	-5L	72.49L	3L	7L	1L
Capital Expenditure	-	-	-	-	-4L
Sale of Property, Plant, and Equipment	93.41T	2.44T	-	2.44T	24.23T
Other Investing Activities, Total	-	51.32T	1L	3L	1L
Cash from Investing	93.41T	53.76T	1L	3L	-3L
Miscellaneous Cash Flow Adjustments	1	-1L	-8L	-19.03L	-
Net Change in Cash	-4L	71.96L	-4L	-10L	-2L
Supplemental Items
Cash Interest Paid	-	-	-	6.33T	420
Levered Free Cash Flow	-1.71Cr	84L	4L	87.67T	-8L
Unlevered Free Cash Flow	-1.69Cr	84.11L	4L	91.62T	-8L
Change In Net Working Capital	1.64Cr	-79.24L	-28.9T	3L	35.46T

Fiscal Period: December	2021	2022	2023	2024	2025
Profitability
Return on Assets	-4	-2.49	-6.42	-1.85	-8.15
Return on Total Capital	-6.19	-3.09	-6.87	-1.97	-8.38
Return On Equity %	1.93T	-10.43	-6.5	0.18	-11.96
Return on Common Equity	1.93T	-10.43	-6.5	0.18	-11.96
Margin Analysis
Gross Profit Margin %	64.46	79.46	69.96	84.08	78.45
SG&A Margin	53.03	61.19	70.39	79.11	163.24
EBITDA Margin %	-37.33	1.25	-48.43	-12.51	-95.18
EBITA Margin %	-52.03	-21.94	-50.63	-13.94	-97.48
EBIT Margin %	-52.03	-21.94	-50.63	-13.94	-97.48
Income From Continuing Operations Margin %	585.03	-42.27	-27.8	0.74	-86.87
Net Income Margin %	585.03	-42.27	-27.8	0.74	-86.87
Net Avail. For Common Margin %	585.03	-42.27	-27.8	0.74	-86.87
Normalized Net Income Margin	-50.99	-25.71	-17.66	0.64	-52.48
Levered Free Cash Flow Margin	-616.11	400.88	19.23	5.07	-87.59
Unlevered Free Cash Flow Margin	-610.56	401.43	19.66	5.3	-87.56
Asset Turnover
Asset Turnover	0.12	0.18	0.2	0.21	0.13
Fixed Assets Turnover	0.21	2.17	2.77	3.69	14.59
Receivables Turnover (Average Receivables)	0.46	0.34	3.52	3.25	2.22
Inventory Turnover (Average Inventory)	4.01	-	-	-	222.39
Short Term Liquidity
Current Ratio	2.66	14.64	8.13	19.63	259.1
Quick Ratio	2.62	14.37	7.97	19.2	254.11
Operating Cash Flow to Current Liabilities	-0.1	12.43	0.3	1.87	3.93
Days Sales Outstanding (Average Receivables)	786.78	1.07T	103.72	112.64	164.2
Days Outstanding Inventory (Average Inventory)	91.08	-	-	-	1.64
Average Days Payable Outstanding	3.38T	-	118.38	-	44.09
Cash Conversion Cycle (Average Days)	-2.5T	-	-	-	121.75
Long Term Solvency
Total Debt/Equity	13.31	4.98	10.58	0.2	0.01
Total Debt / Total Capital	11.74	4.75	9.57	0.2	0.01
LT Debt/Equity	4.39	4.87	5.26	-	-
Long-Term Debt / Total Capital	3.88	4.64	4.76	-	-
Total Liabilities / Total Assets	36.57	10.81	15.6	5.02	0.38
EBIT / Interest Expense	-5.86	-24.66	-73.1	-38.05	-2.18T
EBITDA / Interest Expense	-4.07	46.48	-1.32	44.97	-1.65T
(EBITDA - Capex) / Interest Expense	-4.07	46.48	-1.32	44.97	-2.69T
Total Debt / EBITDA	-1.19	0.46	-47.9	0.05	-0
Net Debt / EBITDA	-0.53	-8.6	398.63	-22.75	9.12
Total Debt / (EBITDA - Capex)	-1.19	0.46	-47.9	0.05	-0
Net Debt / (EBITDA - Capex)	-0.53	-8.6	398.63	-22.75	5.57
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	-45.47	-24.3	-13.05	-5.18	-45.58
Gross Profit, 1 Yr. Growth %	-4.52	-6.68	-23.44	13.96	-49.22
EBITDA, 1 Yr. Growth %	70.29	-102.54	-3.47T	-73.61	314.04
EBITA, 1 Yr. Growth %	22.89	-68.07	100.64	-73.89	280.52
EBIT, 1 Yr. Growth %	22.89	-68.07	100.64	-73.89	280.52
Earnings From Cont. Operations, 1 Yr. Growth %	-770.65	-105.47	-42.81	-102.53	-6.47T
Net Income, 1 Yr. Growth %	-770.65	-105.47	-42.81	-102.53	-6.47T
Normalized Net Income, 1 Yr. Growth %	-2.95	-61.83	-40.25	-103.45	-4.54T
Diluted EPS Before Extra, 1 Yr. Growth %	-770.66	-105.47	-42.81	-102.53	-6.48T
Accounts Receivable, 1 Yr. Growth %	6.53T	-95.52	-3.47	9.08	-47.52
Inventory, 1 Yr. Growth %	-99.7	-	-	-	-71.87
Net Property, Plant and Equip., 1 Yr. Growth %	-94.1	-65.79	67.93	-86.46	-84.68
Total Assets, 1 Yr. Growth %	-54.4	-35.93	-0.97	-18.18	-7.83
Tangible Book Value, 1 Yr. Growth %	-223.09	-9.91	-6.29	-7.92	-3.34
Common Equity, 1 Yr. Growth %	-223.12	-9.91	-6.29	-7.92	-3.34
Cash From Operations, 1 Yr. Growth %	-185.19	-1.63T	-95.86	128.39	-114.84
Capital Expenditures, 1 Yr. Growth %	-	-	-	-	-
Levered Free Cash Flow, 1 Yr. Growth %	-2.06T	-149.17	-95.83	-77.43	-1.04T
Unlevered Free Cash Flow, 1 Yr. Growth %	-1.53T	-149.68	-95.74	-76.88	-998.5
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	-38.45	-35.75	-18.87	-9.2	-28.16
Gross Profit, 2 Yr. CAGR %	6.09	-5.61	-15.48	-6.6	-23.93
EBITDA, 2 Yr. CAGR %	-21.53	-79.23	-7.48	187.38	4.53
EBITA, 2 Yr. CAGR %	-23.34	-37.36	-19.96	-27.62	-0.33
EBIT, 2 Yr. CAGR %	-23.34	-37.36	-19.96	-27.62	-0.33
Earnings From Cont. Operations, 2 Yr. CAGR %	116.54	-39.44	-82.32	-87.97	26.99
Net Income, 2 Yr. CAGR %	116.54	-39.44	-82.32	-87.97	26.99
Normalized Net Income, 2 Yr. CAGR %	-22.69	-39.14	-52.25	-85.64	23.82
Diluted EPS Before Extra, 2 Yr. CAGR %	116.54	-39.44	-82.32	-87.98	26.99
Accounts Receivable, 2 Yr. CAGR %	877.89	72.42	-79.2	2.62	-24.34
Inventory, 2 Yr. CAGR %	-97.63	-	-	-	-
Net Property, Plant and Equip., 2 Yr. CAGR %	-75.99	-85.79	-24.2	-52.31	-85.59
Total Assets, 2 Yr. CAGR %	-34.7	-45.95	-20.35	-9.99	-13.16
Tangible Book Value, 2 Yr. CAGR %	35.7	5.31	-8.12	-7.11	-5.66
Common Equity, 2 Yr. CAGR %	35.83	5.32	-8.12	-7.11	-5.66
Cash From Operations, 2 Yr. CAGR %	148.3	261.55	-20.25	-69.23	-41.77
Capital Expenditures, 2 Yr. CAGR %	-	-	-	-	-
Levered Free Cash Flow, 2 Yr. CAGR %	347.97	210.83	-85.68	-89.78	45.61
Unlevered Free Cash Flow, 2 Yr. CAGR %	283.24	167.04	-85.46	-89.56	44.13
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	-30.61	-34.05	-28.93	-14.54	-23.44
Gross Profit, 3 Yr. CAGR %	-21.66	1.65	-11.97	-6.63	-23.77
EBITDA, 3 Yr. CAGR %	45.75	-75.02	13.29	-40.59	224.58
EBITA, 3 Yr. CAGR %	1.42	-42.75	-7.67	-44.9	25.85
EBIT, 3 Yr. CAGR %	1.42	-42.75	-7.67	-44.9	25.85
Earnings From Cont. Operations, 3 Yr. CAGR %	103.85	-36.47	-40.58	-90.75	-2.66
Net Income, 3 Yr. CAGR %	103.85	-36.47	-40.58	-90.75	-2.66
Normalized Net Income, 3 Yr. CAGR %	5.73	-38.9	-39.51	-80.11	-2.88
Diluted EPS Before Extra, 3 Yr. CAGR %	103.85	-36.47	-40.58	-90.76	-2.66
Accounts Receivable, 3 Yr. CAGR %	366	62.43	42.11	-63.86	-17.94
Inventory, 3 Yr. CAGR %	-92.85	-	-	-1.41	-
Net Property, Plant and Equip., 3 Yr. CAGR %	-63.82	-72.98	-67.63	-57.31	-67.34
Total Assets, 3 Yr. CAGR %	-26.54	-35.11	-33.86	-19.63	-9.28
Tangible Book Value, 3 Yr. CAGR %	85.54	18.38	1.29	-8.05	-5.87
Common Equity, 3 Yr. CAGR %	85.96	18.46	1.3	-8.05	-5.87
Cash From Operations, 3 Yr. CAGR %	144.79	355.65	-18.48	13.25	-75.87
Capital Expenditures, 3 Yr. CAGR %	-	-	-	-	-
Levered Free Cash Flow, 3 Yr. CAGR %	413.61	114.61	-26.14	-82.75	-53.89
Unlevered Free Cash Flow, 3 Yr. CAGR %	242.48	94.08	-32.79	-82.44	-53.92
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	-32.16	-29.29	-26.13	-25.05	-28.63
Gross Profit, 5 Yr. CAGR %	-22.21	-7.62	-19.24	-1.73	-16.97
EBITDA, 5 Yr. CAGR %	-7.47	-61.52	21.47	-33.63	8.08
EBITA, 5 Yr. CAGR %	-9.96	-35.26	-7.74	-37.12	-4.8
EBIT, 5 Yr. CAGR %	-9.96	-35.26	-7.74	-37.12	-4.8
Earnings From Cont. Operations, 5 Yr. CAGR %	40.5	-29.5	-23.33	-67.35	-19.49
Net Income, 5 Yr. CAGR %	40.5	-29.5	-23.33	-67.35	-19.49
Normalized Net Income, 5 Yr. CAGR %	-5.9	-30.45	-23.07	-65.76	-19.44
Diluted EPS Before Extra, 5 Yr. CAGR %	40.5	-29.5	-23.33	-67.36	-19.49
Accounts Receivable, 5 Yr. CAGR %	50.79	15.17	34.35	35.17	10.44
Inventory, 5 Yr. CAGR %	-80.56	-	-	-77.81	-75.88
Net Property, Plant and Equip., 5 Yr. CAGR %	-39.9	-51.07	-51.37	-66.08	-76.58
Total Assets, 5 Yr. CAGR %	-11.42	-16.47	-24.12	-26.04	-26.25
Tangible Book Value, 5 Yr. CAGR %	8.32	-6.18	40.08	7.44	-1.55
Common Equity, 5 Yr. CAGR %	8.33	-6.18	40.26	7.48	-1.55
Cash From Operations, 5 Yr. CAGR %	-0.3	115.37	56.31	55.03	-28.74
Capital Expenditures, 5 Yr. CAGR %	-	-	-	-	87.29
Levered Free Cash Flow, 5 Yr. CAGR %	62.68	39.57	22.72	-36.51	-1.08
Unlevered Free Cash Flow, 5 Yr. CAGR %	56.82	35	-3.17	-39.71	-6.94