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MECANICA CEAHLAU - MECF

H1 2021 report

Release Date: 8/9/2021 6:10:12 PM

IRIS Code: 519BC

 

 

Half-yearly report of the Management Board on June 30, 2021

                  

            Date of the report: 09.08.2021

       Name of the company:

       SC „MECANICA CEAHLAU” S.A.  PIATRA NEAMT

 Registered Office: Piatra Neamt, Dumbravei street, no.6, postal code 610202

 Phone number/fax: 0233-21.58.20/   0233-21.60.69

 Tax Identification Number:  RO 2045262

 Trade Register Registration Number: J.27 / 8 / 08.01.1991

             Subscribed and paid-in share capital RON 23,990,846

Regulated market in which the issued securities are traded:  Bucharest Stock Exchange – Category Standard

Trading symbol: MECF.

 

1.    Synthesis of the financial-economic indicators on June 30, 2021

 

Information in the financial-economic situation of the Mecanica Ceahlau SA on the 1st semester of 2021 are presented in the Financial Statements, concluded on June 30, 2021, drafted according to the order 2844 from 2016 on the approval of the accounting regulations according to the international standards of financial reporting

The currency of the reporting is RON.

The Financial Statements, concluded on June 30, 2021 have not been audited.

The structure and the evolution of the asset, debt and equity elements of the company, compared to the same period of the previous year, is presented as:

1.a.  Individual situation of the financial position

 

 

Balance Sheet Elements

 

Semester I  

 2021

 

       Semester I  

 2020

 

Fixed assets total, out of which:

17,823,463

18,443,454

Tangible fix assets

16,384,071

16,858,686

Intangible assets

60,628

80,855

Real Estate Investments

487,280

413,550

Assets representing rights of use of support assets in leasing contracts

891,484

1,090,363

Current assets total, out of which:

40,600,030

39,691,178

Stocks

23,687,290

21,518,374

Trade receivables

7,627,837

8,140,403

Other receivables

197,353

453,833

Expenses registered in advance

217,924

253,068

Financial assets at fair value

265,303

257,121

Cash and cash equivalents

8,258,813

8,681,172

Assets classified as held for sale

345,510

387,207

TOTAL ASSETS

58,423,492

58,134,631

Own equity, of which:

48,514,919

49,123,572

Share capital

23,990,846

23,990,846

Legal reserves

2,804,874

2,804,874

 

Balance Sheet Elements (cont,)

 

           Semester  I  

 2021

 

     Semester  I  

 2020

Revaluation reserve

7,299,101

6,896,821

Retained earnings and other reserve

14,420,098

15,421,031

Total debts: 

9,801,906

9,011,059

Long term debts, out of which:

2,493,253

2,354,919

Long term loans

567,250

848,508

Provisions for pensions:

624,937

245,810

Debts on deferred tax

182,436

508,673

Liabilities from leasing contracts

1,118,630

751,928

Current debts total, out of which:

7,308,653

6,656,140

Short term loans

295,961

1,260,824

Commercial debts

209,131

3,623,253

Other debts

5,032,833

1,026,621

Liabilities from leasing contracts

914,511

246,130

Provisions

856,217

499,312

TOTAL OWN EQUITY AND DEBTS

58,316,825

58,134,631

 

The equity increased to the amount of RON 48,514,919 (January 01, 2021: RON 47,800,744). In the first half of 2021, no dividends were distributed to shareholders.

 

The Total debts have increased with 9% compared to the same period of the previous year

 

1.b.  Individual situation of the global result

 

The company Mecanica Ceahlau SA ended the first semester of 2021 with a net turnover of 14,691,472 RON.

 

The net turnover achieved on June 30, 2021 is 60% higher than the same period of the previous year.

 

 

 

Semester I  

 2021

Semester I  

 2020

 

Sales

14,691,472

9,204,738

Costs of materials and consumables

(9,883,876)

(4,892,122)

 

 

4,807,596

4,312,616

 

Other operational revenues

211,161

155,621

Expenses with utilities

(173,143)

(226,242)

Expenses with salaries and other personnel expenses

(2,923,813)

(3,414,568)

Other administrative expenses

(1,071,996)

(871,186)

Other operational expenses

(182,462)

(183,222)

Expenses with amortization and impairment of assets and leasing assets

(810,796)

(740,927)

Gain/ loss from assets sales

-

-

Adjustment of the value of current assets

1,143,152

603,289

Gain/Loss of provisions for risks and expenses

229,558

129,894

 

Total operational expenses

(3,789,500)

(4,702,962)

 

Result of the operational activities

1,229,257

(234,724)

 

Interest incomes

40,506

 

208,669

Gains from revaluation of financial assets at fair value through profit or loss

3,452

3,262

Interest expense and discounts granted

(106,530)

(78,808)

Losses from exchange rate differences

(39,858)

(55,512)

 

Financial net result

(102,430)

77,611

 

Result before tax

1,126,827

(157,113)

 

Revenue/ (expenses) with current and deferred income tax

(439,544)

(212,461)

 

Net profit of period

687,283

(369,574)

 

 

B . Financial-economic indicators

 

Indicator name

Calculation method

Semester I

2021

Semester I

2020

1. Current liquidity indicator               

 

Current assets/

Current debts

 

 

 

5.56

 

 

6.45

2. Rate of debt indicator

 

Borrowed equity/

Own equity x 100

 

 

4.2

 

 

4.29

3. Turnover speed of fixed assets

Turnover/

Fixed assets

 

0.83

 

0.52

4. Turnover speed of total assets

 

Turnover/

Total assets

0.25

0.16

5. Turnover speed of days sales outstanding

 (No. days)

Medium balance of net trade receivables /

Turnover x 181

 

94 days

 

143 days

 

 

2.    Half-yearly report on June 30, 2021 – the integral version is available on www.mecanicaceahlau.ro  and on the Bucharest Stock Exchange website, at the link below;

 

GENERAL DIRECTOR,                                                                                                                            FINANCIAL DIRECTOR ,

          Sorin Ion Molesag                                                                                                                                 Gabriela Pepene

 

 

PRESIDENT OF THE MANAGEMENT BOARD,

Trifa Aurelian Mircea Radu

 



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