S C Electroarges S A : Preliminary Financial Results 2021 - English version

STATEMENT OF COMPREHENSIVE INCOME ON DECEMBER 31st 2021 (expressed in lei, unless specified otherwise

	December 31 2021	December 31 2020
Income from contracts	302,853,908	245,397,097
Other operating income	6,314,391	4,641,499
Changes in inventories	901,478	1,233,886
Raw materials and consumables	(224,973,446)	(184,806,464)
Expenses on personnel	(28,511,036)	(26,681,202)
Amortization	(9,662,732)	(8,467,874)
Other operating expenses	(45,774,007)	(27,953,648)
Operating profit	1,148,556	3,363,294
Financial income	11,576	57,782
Financial expenses	(2,260,548)	(17,109,064)
Profit/loss before taxation	(1,100,416)	(13,687,990)
Expenses with the tax on profit	996,107	-
Income from deferred tax on profit	-	1,276,823
Loss	(2,096,523)	(12,411,167)
Basic/diluted earnings per share	(0.0301)	(0.1780)

The financial results of 2021 were also influenced by:

• Financial loss amounting to 2,248,972 lei (MOBT);
• Expenses with repairs amounting to 757,217 lei;
• Depreciation expenses with a total value of 9,662,732 lei.

Vice-Chairman of the Board of Directors,	Financial Manager,
Roxana Scarlat	Iulia Petre

1

FINANCIAL STATEMENT ON DECEMBER 31st 2021

(expressed in lei, unless specified otherwise)

Assets	December 31 2021	December 31 2020
Fixed assets
Tangible assets	64,430,157	52,219,321
Intangible assets	852,328	848,229
Financial assets	15,196,418	19,409,756
Deferred tax	1,232,761	1,232,761
Fixed assets	1,516,522	1,464,045
TOTAL FIXED ASSETS	83,228,186	75,174,112
Current assets
Inventories	17,032,020	11,003,137
Trade receivables and of other nature	29,602,157	33,263,066
Other financial assets		0
Cash and cash equivalents	11,010,955	13,973,596
TOTAL CURRENT ASSETS	57,645,132	58,239,799
TOTAL ASSETS	140,873,318	133,413,911
Trade liabilities and of other nature	52,960,256	51,122,987
Short-term loans from banking
institutions	7,857,828	13,473,803
Financial leasing	2,533,932	2,323,344
Employee benefits the short-term due
part	116,190	487,707
Long-term loans from banking
institutions - current due date	-	-
Liabilities regarding the tax on profit	467,931	224,063
TOTAL SHORT-TERM LIABILITIES	63,936,137	67,631,904
Long-term loans from banking
institutions	9,997,365	-
Grants	4,190,123	1,349,561
Employee benefits the long-term due
part	236,316	545,248
Leasing	5,495,993	5,674,341
Deferred tax on profit	-	-
TOTAL LONG-TERM LIABILITIES	19,919,797	7,569,150
TOTAL LIABILITIES	83,855,934	75,201,054
NET ASSETS	57,017,384	58,212,857

	December 31 2021	December 31 2020
Share capital	6,976,465	6,976,465
Legal reserve	1,617,005	1,617,005
Net reserves from revaluation	6,827,207	9,075,585
Other reserves	44,442,530	44,442,530
Retained earnings	(2,845.,23)	(3,898,728)
TOTAL EQUITY	57,017,384	58,212,857
TOTAL LIABILITIES AND EQUITY	140,873,318	133,413,911

Vice-Chairman of the Board of Directors,	Financial Manager,
Roxana Scarlat	Iulia Petre

3