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PREBET SA AIUD - PREB

H1 2021 report

Release Date: 8/16/2021 8:23:08 AM

IRIS Code: C93F0

 REPORT OF ADMINISTRATORS

SC PREBET AIUD SA for the 1st semester 2021

Half-yearly Report according to the Regulation ASF no. 5 / 2018-Annex 14

 

 

For the financial year : 2021 ( 1st semester )

Report date : 16.08.2021

Name of the trading company : S.C. PREBET AIUD S.A.

Registered office : Aiud , Judetul Alba, str. Arenei , nr. 10

Telephone/fax number  : 0258-861661 / 0258-861454

Unique registration number within the Trade Registry Office : RO1763841

Fiscal code within the Trade Registry Office : Alba  J/01/121/1991

LEI Code: 254900R0KBC9MDTF1V33

Regulated market in which are traded the issued securities : B.V.B.

Subscribed and paid capital : 8.199.547,74 lei

Main characteristics of the issued securities : the company issued a number of 45.553.043 registered shares with a nominal value of 0,18 lei each, dematerialised

 

1.      Shareholder Structure, Significant Events, Risks and Uncertainties, Affiliate Transactions

 

1.1 Ownership structure

 

SC PREBET AIUD  SA  has as main object of activity :  Manufacture of concrete products for construction purposes, NACE code – 2361.

 

 

 

Shareholder

           No. shares

 %

 

HAGEA LIVIU

 

 

14.056.588

 

30,8576

 

OTHERS

11.258.455

24,7150

 

GES – GREEN ENERGY

  7.888.000

    17,3161

 

 

ANODIN ASSETS CLUJ

 

 

  6.750.000

14,8179

ACORD CONSTRUCT

 5.600.000

12,2934

TOTAL

45.553.043

   100

 

The trading company PREBET AIUD S.A. was incorporate in  1991, by the purchase of the entire patrimony of the former Intreprinderi Prefabricate din beton Aiud  (IPB) (Precast Concrete Company Aiud), founded in 1966..

The trading company PREBET AIUD S.A. was organized in the actual structure based on Law. No. 15/1990 and by the GD no. 93/04.02.1991, being registered within the Trade Registry under no. J/01/121/1991.

 

1.2.  Important events in the first 6 months and their impact on half-yearly accounting reports

 

Risks and uncertainties


The fact that the company registers a profit on June 30, 2021, leads us to believe that there will be no high risks and uncertainties that would substantially influence the economic-financial results at the end of the year. However, we cannot neglect the risk caused by the covid-19 pandemic that affects our country and the world, but from the experience so far and due to the measures strictly taken, we have minimized the potential risks of embezzlement of employees. The sharp increase in prices for materials and especially for metal (concrete steel, strand used for tensioning, crossbeam metal plate, etc.) can decisively influence the financial results at the end of 2021.
The following risk categories may have influences on the company's activity in the next 6 months:

 

a) Market risk is defined as the risk that the variation in market prices, such as exchange rate, interest rate and market demand mitigation, will affect the Company's revenue. Market risk - market instability for building materials, characterized by a significant drop in demand, a pre-emergent market risk and marketing policy. Risk of price volatility from electricity, methane, metals, diesel, pre-empted by finding new suppliers or renegotiating contracts with traditional suppliers

 

b) Currency risk is defined as the risk of incurring losses from international trade or other economic relations due to changes in the exchange rate of the currency between the end of the contract and its maturity.The currency risk is determined by the risk of loss or non-realization of the estimated profit due to unfavorable fluctuations in the exchange rate. Most of the Company's financial assets and liabilities are denominated in the national currency and hence the fluctuations in the exchange rate do not significantly affect the Company's activity. The result of the currency conversion does not have a significant impact on the overall result of the period. Although the Company is operating in Romania, it is exposed to the currency risk arising from the exposure to Euro currency variations, where purchases from or deliveries to partners are denominated external. The Company does not protect against foreign exchange risk related to Euro currency fluctuations through forward contracts or other financial derivatives. However, the management of the Company regularly reviews its forecasts of the LEI / EUR exchange rate and introduces the information thus obtained into the substantiation of the pricing strategy.

 

c) The price risk may arise due to price inconsistency in time, between the time of the conclusion of the contract and the moment of payment and the collection of the amount stipulated in the contract. This risk can occur especially in the case of long-term contracts.The company does not export products and there is no possibility of not achieving the expected gain or loss, due to the change in the international prices between the moment of closing and the moment of finalizing the contracts.
In order to counteract the price risk related to the supply contracts concluded with the clients on the internal market, the Company carries out analyzes and estimates regarding the evolution of the price of raw materials and materials, utilities and labor costs.

 

d) Credit risk is determined by cash and cash equivalents, deposits with credit institutions and other financial institutions, and credit-related exposures to customers for the products sold, including unpaid receivables. In the case of credit institutions and other financial institutions, only entities with good reputation and financial soundness on the financial market in Romania are accepted.
For customers, because an independent rating is not available, management assesses the client's creditworthiness, based on its financial position, previous experience, and other factors. Individual risk limits are established on the basis of internal ratings in accordance with the limits set by the Board of Directors. The use of credit limits (ceilings) is monitored on a regular basis.
Unfavorable changes in the creditworthiness of the Company's clients may have adverse effects on the Company's ability to collect cash or cash equivalents resulting from sales, which could lead to uncertainty about the continuity of activity, as well as depreciation in financial performance indicators by recognizing impairment adjustments of these assets.
The exposure of the Company to credit risk is mainly influenced by the individual characteristics of each client.

 

Prebet Aiud is characterized by its specific activity and due to the fact that the beneficiaries are companies

operating in the field of construction with a high degree of banking risk is exposed to this type of risk caused by late payment of the invoices or even more serious the entry into insolvency .

 

e) Liquidity risk is the risk of loss or loss of expected profits arising from the impossibility of honoring at any time the short-term payment obligations without incurring excessive costs or losses that can not be borne by the Company . Company Leadership monitors liquidity forecasts to ensure that there is sufficient cash to meet the operational requirements. These projections take into account financing plans, compliance with contractual arrangements, and respect for the core objectives of economic and financial management indicators.

 

f) The risk of taxation
The fiscal system in Romania is subject to various interpretations and permanent changes that may sometimes be retroactive. Tax authorities may adopt a different position from the Company's position with respect to certain transactions, operations and events and as such may compute certain additional obligations, interest and tax penalties. The management of the Company believes that it has recorded fair values ​​in the tax, tax and other debt accounts to the State. However, there is a risk that the tax authorities will have a different position from that of the Company.

g) Risk to the economic environment
The Romanian economy presents the characteristics of an emerging economy and there is a significant degree of uncertainty regarding the development of the political, economic and social environment in the future. The management of the Company can not predict all the effects of the crisis that will have an impact on the financial sector in Romania, nor its potential impact on the present financial statements.

h) The risk of amending the legislation
Tax legislation in Romania is subject to extensive and frequent changes that could adversely affect the Company's activity. There is a risk that the Company will be exposed in the future to increased tax rates or new (additional) taxes, ie new operational or financial requirements that could not be predicted or estimated at the time of preparation of the financial statements.

i
) The risk of addiction to a small number of clients
The company has a wide portfolio of clients, but given the economic sector in which the company operates, there is a dependence on the companies involved in major infrastructure projects initiated by the Romanian State (construction of highways, railway rehabilitation, etc.) .

j) Operating risk is defined as the risk of loss or loss of expected profits due to internal factors such as inadequate performance of internal activities, the existence of inadequate personnel or systems, or due to external factors such as economic conditions , changes in the capital market, technological advances. Policies defined for operational risk management have taken into account each type of event that may generate significant risks and specific disclosure modalities to eliminate or mitigate financial losses.
Within the PREBET AIUD company during the analyzed period there were no transactions between the affiliated parties

 

1.3.Transactions with affiliated parts

Within PREBET AIUD, no transactions between related parties as defined in the International Financial Reporting Standards (IFRS) adopted in accordance with the provisions of Regulation (EC) no. 1.606 / 2002 of the European Parliament and of the Council of 19 July 2002 on the application of international accounting standards.

 

2.    Financial Economic Situation

 

2.1. General evaluation elements

 

SC PREBET AIUD SA: has prepared the financial statements in accordance with the International Standards of Financial Reporting adopted by the European Union (IFRS), in force at the annual reporting date and with the provisions of OPFM 2844/2016, with subsequent amendments and completions:

 

      a)  Gross profit :                                 2.417.668  lei

    b) Net profit:                                      2.008.671  lei

      c)   Turnover:                                   17.127.019  lei 

         d)   Costs                                         17.221.226   lei

       e)   Operating expenses                  17.200.505   lei

       f)   Financial expenses                           20.721  lei

       g)   Financial revenues                          78.32    lei

       h)   Operating expenses                19.560.863    lei

       i)   Total revenues                         19.638.894    lei

 

a)   Profit 

At the end of the 1st semester 2021 the company registered a gross profit of 2.417.668 lei.

 

b)   Turnover

Achieved turnover 17.127.019 lei.

 

c)    Export

The company does not export products.

 

d)   Costs

The total costs related to the manufacture for the total manufactured are in amount of 17.221.226 lei at the revenues of 19.638.894 lei .

 

         Market held percentage

Due to the diversity of manufactured products and multitude of producers of precast elements on the domestic market it is difficult to establish a weighting for each element of precast concrete product.

 

e)    Liquidity

At the end of the review period is registered a minus of treasury compared to early of – 11.215.020 lei

 

Liquidity:

            - Cash and bank account at the beginning of the period: 16.048.845 lei

            - Cash and deposits at the end of the period: 4.833.825 lei

            - Cash Flow: - 11.215.020 lei

            - Current liquidity: 3.96

            - Immediate liquidity: 1.87

 

2.2 Economic and financial situation

 

Name of indicators

31.12.2020

30.06.2021

Tangible assets

23.629.768

23.756.669

Financial assets

0

10.345.022

TOTAL FIXED ASSETS

23.629.768

34.101.691

Stocks

7.825.398

10.952.835

Receivables and other receivables

6.658.009

4.965.835

Cash and cash equivalent

16.048.845

4.833.825

Other assets ( expenses in advance )

0

0

TOTAL CURRENT ASSETS

30.532.252

20.752.599

1.TOTAL ASSETS

54.162.020

54.854.290

Subscribed and paid capital

8.199.548

8.199.548

Capital adjustments

57.644.064

57.644.064

Other elements of ownership equity

( 647.854 )

   ( 647.854 )

Capital premium

0

0

Reassessment reserves

8.694.851

8.550.758

Reserves

21.891.537

28.501.867

Reported result except that from the first adoption of date of IAS 29

5.823.491

5.967.585

Reported result from the adoption of the premium for IAS 29

( 63.521.958 )

          ( 63.521.958 )

Profit at the end of the reporting period

8.647.517

2.008.671

Distribution of profit

( 37.186 )

0

2.TOTAL OWNERSHIP EQUITY

46.694.010

46.702.681

Long term loans

0

0

Debt with deferred income tax

549.988

549.988

TOTAL DEBTS ON LONG TERM

549.988

549.988

Trade payables and other debts

4.282.047

5.047.827

Short term loans

0

0

Current income tax liability

194.494

195.193

TOTAL DEBTS ON LONG TERM

4.476.541

5.243.020

Subsidies on investments

1.210.542

1.127.662

Provisions

1.230.939

1.230.939

3.TOTAL LIABILITIES

54.162.020

54.854.290

 

 

2.3 Profit and loss account

 

Indicator name

30.06.2020

30.06.2021

NET TURNOVER

14.673.381

17.127.019

Changes in inventories of finished goods and production in progress

3.576.902

2.342.982

Variation in the production of tangible assets

0

0

Other revenues

86.560

90.862

OPERATING INCOMES - TOTAL

18.336.843

19.560.863

Raw materials and used consumables

6.859.834

8.483.278

Other external expenses (with energy and water)

728.504

679.610

Employee’s benefits expense

5.128.539

5.160.274

Expenses with depreciation and amortization

870.097

869.865

Other expenses

1.137.867

2.007.478

OPERATING EXPENSES - TOTAL

14.724.843

17.200.505

OPERATING PROFIT OR LOSS

3.612.000

2.360.358

FINANCIAL INCOMES

102.312

78.031

FINANCIAL EXPENSES

23.835

20.721

FINANCIAL PROFIT OR LOSS

78.477

57.310

TOTAL REVENUES

18.439.155

19.638.894

TOTAL EXPENSES

14.748.678

17.221.226

GROSS PROFIT

3.690.477

2.417.668

CORPORATE TAX

527.654

408.997

NET PROFIT

3.162.821

2.008.671

 

2.4 Cash flow

 

At the end of the first semester, the company registers a cash available of 4,833,825 lei, decreasing by 11,215,020 lei compared to the beginning of the year 16,048,845 lei. This fact is mainly due to a financial investment in the amount of 10,345,022 lei, regarding the acquisition of a number of 4,556,250 shares representing 5.00% of the share capital of the company Platforma Roca S.A.

 

 

 

STATEMENT OF CHANGES IN EQUITY

 

 

Share capital

Share capital adjustments

Capital assimilated elements

Reserves from reassessment

Other reserves

Current and retained earnings

Total

Balance on January 1st 2021

8.199.548

57.644.064

(647.854)

8.694.851

21.891.536

(49.088.135)

46.694.010

Other changes in the global result

0

0

0

0

0

0

0

Current global result

0

0

0

0

0

2.008.671

2.008.671

Allocations legal reserve

0

0

0

0

6.610.331

( 6.610.331 )

0

Allocations other reserves

0

0

0

0

0

0

0

Covering loss IFRS

0

0

0

0

0

0

0

Reserve increase from assets reassessment

0

0

0

( 144.093 )

0

144.093

0

Assessment reserve transfer in the reported year

0

0

0

0

0

0

0

Total global result for the period

0

0

0

0

0

( 2.000.000 )

( 2.000.000 )

Paid dividends

0

0

0

( 144.093 )

6.610.331

( 6.457.567 )

8.671

Total transactions with shareholders, direct recognized in own equities

0

0

0

0

0

0

0

Balance on June 30, 2021

8.199.548

57.644.064

(647.854)

8.550.758

20.501.867

(55.545.702)

46.702.681

 

 

 

STATEMENT OF TREASURY FLOWS

Direct method

 

 

 

                  30.06.2020

                  30.06.2021

Fluxuri de numerar din activitati de exploatare

Cash receipts from operating activities, of which

20.468.276

22.550.330

Cash receipts from customers

20.382.979

22.488.794

Cash receipts from royalties, fees, commissions and other income

85.297

61.536

Cash receipts representing the residual income tax

0

0

Cash outflows related to the operating activity, of which

17.791.819

20.475.476

Payments made to suppliers of goods and service providers

10.826.194

12.442.171

Payments made to and on behalf of employees

5.289.977

5.120.153

He's paying tax on profits

321.515

408.298

Interest paid

0

0

Payments related to other taxes

1.354.133

2.504.862

Net cash generated from operation

2.676.457

2.074.854

Cash flows from investment activities

Icash receipts from the investment activity, of which

17.000.000

0

Receipts from the sale of tangible and intangible assets

0

0

Receipts from the sale of equity or debt instruments of other entities and from the sale of interests in joint ventures

17.000.000

0

Receipts from investment grants

0

0

Receipts from repayment of advances and loans to other parties

0

0

Cash receipts representing dividends received

0

0

Cash outflows related to the investment activity, out of which

21.259.047

11.462.568

Payments for the acquisition of tangible, intangible and other fixed assets

2.254.290

11.462.568

Payments for the purchase of shares and other financial instruments

19.000.000

0

Payments for cash advances and loans to other parties

4.757

0

Net cash generated by investments

- 4.259.047

- 11.462.568

 

Cash flows from financing activities

Cash receipts from financing activity, out of which

97.188

76.290

Receipts from the issue of shares and other equity instruments

0

0

Receipts from the issue of debt securities, loans, commercial effects, bonds, mortgages and other short or long-term loans

97.188

 76.290

Cash outflows related to the financing activity, out of which

859.145

 1.903.596

Payments for the redemption of own shares

0

0

Cash payments of borrowed amounts

0

0

Payments related to financial leasing contracts

0

0

Dividends paid to shareholders

859.145

1.903.596

                         Net cash from financing

- 761.957

- 1.827.306

Increase or decrease in net cash and cash equivalents

- 2.344.547

- 11.215.020

Cash and cash equivalents from the beginning of the financial year

4.766.609

16.048.845

Cash and cash equivalents at the end of the financial year

2.422.062

4.833.825

 

3.Analysis of the issuer's activity

 

3.1 Assessment of the technical level of the trading company

 

Main achieved products are:

 

a.    Prestressed concrete traverses for railways

b.    Concrete beams for road bridges with armature reinforced or post-reinforced and various length and sections

c. Prefabricated for railways and road culverts

d. Prefabricated for electrification and signaling of road ways

e. Dales for railway level crossing

f. Prefabricated for channel with pockets for overhaul of locomotives and wagons

g. Reinforced concrete traverses biblock type for underground and tram

h. Various prefabricated for structures

 

Description of the main products manufactured and/or services provided specifying:

 

a.    Main outlet markets for each product or service and the distribution methods:

 

Outlet market of the company's products is represented by the domestic market having as distribution modality the direct sale to the contractor or subcontractor who has contracted works to the end beneficiary of

the required product.

 

b.   Share of each category of goods or services in revenues and in the total turnover of the trading company for the past three years:

 

In 1st semester 2021  the total volume of prefabricated was 1.939 m3 of which bulk concrete 302 m3.

The products manufactured by the company are found in two broad categories of products, plus bulk concrete:

a) reinforced and prestressed concrete sleepers

b) other reinforced and prestressed concrete products

                        c) bulk concrete

 

Product name

         1st semester 2020

            %

          1st semester 2021

            %

Concrete sleepers for railways

     4,90% 

  21,99% 

Diverse concrete products

 93,60%

75,25%

Bulk concrete

              1,50%

                 2,76%

 

c.    New products considered for which it shall be affected a substantial volume of assets in future financial year and also the stage of development of these products

 

By the specific of the activity SC PREBET AIUD SA always has new products on the production line, depending on market demand structure of prefabricated products, products that run on demand, by adapting or creating new patterns, according to technical projects

As a novelty element implemented in the last part of last year and in the first semester of this year is the endowment of the company with a universal stand, which allows the casting of beams with reinforced reinforcement of lengths and high heights.

 

3.2Assessment of the technical-material supply

 

The main objectives of the supply activity were:

- Reducing acquisition costs, thus reducing the production costs

- Identifying new suppliers

 - Providing the necessary of raw materials, spare parts, depending on store policy

- Obtaining the best conditions to supply on contracting (quality/price/payment terms)

Current stock in which is also included the safety stock ensures a good running of the production activity.

 

-  metal plate               -    Vossloh

-  cement                       -   SC Holcim S.A. Bucuresti, Holcim S.A.

  -  concrete steel           -   Siderom Bucuresti

 -   Dacotrans Sperieteni

 -   Pittini Udinese

 -   OAM Ungaria

 -   D&D Drotaru Ungaria

 

 

Commercial relationships with main suppliers of raw materials, are based on compliance with the clauses included in Sale – purchase contracts concluded or prolonged after at the beginning of each year. The provider is chose, having as basic principles, the quality-price report, terms of payment and market development of that product.

 

Material supply sources are both in the domestic market but also imported from the European community depending on the type of the manufactured product.

 

 

3.3 Assessment of selling activity

 

a.    Description of the evolution of sequential sales on domestic and/or foreign market and the prospects of sales on medium and long term

 

Sales are made only on the domestic market and somewhat have seasonal character in the winter months their volume is substantially reduced.

Sales prospects depend on the medium and long term government policy regarding the allocation of financial resources for various works which include our products.

 

 

Evolution of the turnover for the last 2 years is as follows:

 

 

  30.06.2020

  30.06.2021

 

14.673.381 lei

 

            17.127.019 lei

 

 

b.   Description of the competitive situation in the field of activity of the trading company, the market share of products or services of the trading company and the main competitors

 

In the 1st semester 2021 the share of sleepers product represented 21.99% of the goods production volume the difference being represented by the product category other precast concrete elements.

The company capitalized its products only on the domestic market throughout the entire country less in the area of Dobrogea and the South – East part of Romania.

 

The main competitors of our market are:

 

-    Somaco Grup Prefabricate Bucuresti

-    Macon Deva

-    ASA Cons Turda

-    Bauelemente

-    METABET Pitesti

-    TRAVERTEC BUZAU

 

c.    Description of each significant dependency of the trading company on one single customer or group of customers whose loss would have a negative impact on company’s revenues

 

Given the diversified customer portfolio, SC PREBET AIUD SA is not significantly depending on a single

customer. In terms of risk management concept, and by the fact that the company has customers whose source of contracts and works is represented by the investments undertaken by entities that are directly or indirectly subordinated to the Romanian State (RNCMNR CFR), we can say that there is a company dependences in investment contracts financed by the national or local budget.

 

3.4Assessment of aspects related with employers/personnel of the trading company

 

a.    indicating the number and training level of the trading company's employees and the degree of unionization of the workforce

         

On 30.06.2021 the average number of employees was 221, and the effective one is of 228 employees.

In relation to Employers, the employees are represented by the Free Trade Union PREBET AIUD the unionisation degree in 2021 is of 59,21%.

As regards the labor force, due in particular to GEO 114/2018, there is an improvement in the quality of the new employees, both the unskilled and the professionally qualified ones.

During the 1st semester 2021 was constantly watched the assessment of staff’s performances and fixing individual targets, with their quarterly check.

 

b.   Description of reports between the manager and employees and any conflictual elements that characterize these reports

 

During the 1st semester 2021 there were no labor disputes between the company management and employees.

 

3.5 Assessment of aspects related to the impact of the basic activity of the issuer on the environment

 

We believe that the company shall not have environmental issues because the performed work is not a polluting activity, the evidence also being the existing environmental permit.

 

S.C. PREBET AIUD S.A. proposes to intensify the concerns to ensure and maintain an environment within a level required by the International and European Standards.

 

For this were established the following objectives:

1. The implementation and certification of an environmental management system. The company holds the environmental management certificate no.3695M/29.05.2014 in accordance with SR EN ISO 14001: 2005.

2. Identification and control of environmental aspects associated with all activities taking place within the company, to ensure compliance with legal requirements and prevent pollution by:

- Minimizing the amount of generated waste and their manage in safely conditions when their occurrence can not be avoided;

- Improving the quality of discharged water from the company;

- Reducing emissions of pollutants into the atmosphere;

- Reducing consumption of natural resources

3.   Ensuring communication of policy by all internal and external stakeholders of the company.

4. Creating conditions for the implementation, maintenance and continuous improvement of environmental management system by providing competent human resources and material resources necessary to maintain the environmental policy and meeting objectives.

In the first semester of this year, it was followed legal requirements and compliance with those contained in the regulatory legal acts, finding this and upon inspection by authorized bodies.

 

3.6 Assessment of research and development activity

 

The company does not have its own research department related to new products this thing is made through our beneficiaries’ projects, these projects being prepared by specialized research and design institutions.

 The research activity within SC PREBET AIUD SA is conducted by the Technical Manufacture Office and own laboratory as well as collaborations with design institutes, with direct implications in increasing the quality of products and services of our company, by improving the manufacture networks and the improvement schemes in order to growth Labour productivity, namely:

 

-            Modernization of existing production capacities, improving the microclimate of work, extension of outlet market, and the scope of business, automation of technologic processes.

-      Performed investments were from own sources.

 

3.7. Perspective elements regarding the activity of the trading company

 

a.presentation and analysis of trends, items, events or uncertainty factors that affect or could affect the liquidity of the trading company compared to the same period of the last year.

 

Immediate liquidity of the company is 1.87, and the indicator of current liquidity is 3.96.

The acceptable recommended value is around 2, giving this guarantee to cover the current liabilities from the current assets.

 

b. presentation and analysis of the effects for the capital expenses, actual or anticipated on the financial situation of the trading company with the same period of the last year

 

In the first semester of 2021, the total volume of investments was 11,189,187 lei, of which 10,345,022 lei were financial investments and 844,165 lei were investments in the acquisition of fixed assets. Last year, in the similar period, the volume of fixed assets acquisitions was 1,602,861 lei. Among the fixed assets purchased we mention two overhead cranes, metal patterns, tensioning equipment, etc. For the year 2021, an investment volume of approximately 1,100,000 euros is proposed (from own and attracted sources).

 

c. presentation and analysis of events, transactions, economic changes that significantly affect the revenues from the basic activity

 

In the first half of 2021 the company managed to meet the half-yearly indicators provided in the Revenue and Expenditure Budget, there are premises for achieving the total BVC, for 2021 if in the second half of 2021 there will be a sufficient volume of commercial contracts to ensure this and material prices will stabilize.

 

3.8 Tangible assets of the trading company

 

a)  Specifying the location and characteristics of the main production facilities owned by the trading company

 

All production capacities of the company are located in its premises with the title deed for the land.

The main production facilities are:

 

- Production hall of concrete sleepers for railways;

- Stand for beam bridges with different sections;

- Polygon of heavy products;

- Station for the production of concrete;

- Ballast sorting station;

 - Prefabrication plant of poles for electrification;

 

b)            Description and analysis of the degree of ware of the trading company properties

 

Fixed assets of the company have an average wear degree of 41,09%
The management of the company is constantly aware of this fact. The proof is also the planned volume of investments for this year.

 

c)    Specifying the potential problems related to ownership of tangible assets of the trading company

 

The Company owns its assets and there are no disputes about the ownership right.

 

3.9    Market securities issued by the trading company

 

a)        The securities issued by our company are traded only in Romania on the Bucharest Stock Exchange.

 

b)    In the last 5 years the situation of dividends distribution was as follows:

.

- year 2016 – for the year 2016 were paid dividends in amount of  – 1.275.484 lei

- year 2017 no dividends were paid

- year 2018 – for the year 2018 were paid dividends in amount of  – 945.681 lei

- year 2019 – for the year 2019 were paid dividends in amount of  – 947.503 lei

- year 2020 – for the year 2020 were paid dividends in amount of  – 2.000.000 lei

 

c)        Description of any activities of the trading company to purchase its own shares.

       The Company has not taken any decision to repurchase its own shares.

 

d)        If the trading company has, branches specify the number and the nominal value of shares issued by the parent company owned by the subsidiary.

 

Not appropriate

 

e)         If the trading company issued debentures and/or other debt as securities presentation of how the trading company pays its obligations to the holders of such securities.

 

               The Company did not issue debentures or other debt securities.   

 

3.10 Management of the trading company

 

a)   Presentation of trading Company’s administrators

 

No

Surname, Name

Position

Profession

1.

Mathe Francisc

President BD

Lawyer

2.

Ratiu Nicolae Christopher

Member

Economist

3.

Deceau Liviu Daniel

Member

Economist

4.

      Salagean-Mihetiu Sorin Florin

Member

Economist

5.

Morutan Alin

Member

Lawyer

 

a) CV (surname, name, age, qualification, professional experience, etc.)

 

            1)  Surname:Mathe                                                       

            Name: Francisc

   Age: 45 years    

Qualification:Lawyer

Professional experience: 22 years

   Seniority in the position: 2 year

Non-executive member of the Board of Directors, is a graduate of the Faculty of Law, Babes-Bolyai University class of 1999.
He was a member of the Board of Directors of several companies and at SC PREBET AIUD SA he was proposed as a member of the company ANODIN ASSETS Cluj-Napoca.

 

                 2)   Surname: Ratiu

Name: Nicolae

Age: 73 years

Qualification: Economist

Professional experience: 40 years

Seniority in the position: 1 year

Non-Executive Member - Chairman of the Board is a graduate of New York Maritime College BSC Maritime Transport Economics.
He has worked in several UK companies for management positions (managing director).

     

3)    Surname: Deceanu

 Name: Liviu Daniel

Age: 37 years   

Qualification:Economist

Professional experience: 12  years

Seniority in the position: 1 year

Non-executive member of the board of directors: He graduated from the Faculty of Economics and Business Management, Babes-Bolyai University Cluj-Napoca (section: International Economic Relations) and currently holds the position of University Lecturer (International Economic Transactions, European Economics) at Faculty of Economics and Business Management Cluj.

 

4)   Surname : Salagean-Mihetiu

                      Name : Sorin Florin

  Age : 42 years

  Qualification: Economist

  Professional experience: 18 years

  Seniority in the position: 1 years

Non-executive member of the Board of Directors: he graduated from the University of Oil and Gas Ploiesti, Faculty of Economic Sciences, currently holds the position of General Manager of   Montana Campeni SRL, a company producing wooden furniture.

 

 

  5)  Surname : Morutan

                      Name : Alin

  Age : 47 years

  Qualification: Lawyer

  Professional experience: 22 years

  Seniority in the position: 0 year

Non-executive member of the Board of Directors: he is a graduate of the Faculty of Law Cluj Napoca, Dimitrie Cantemir Christian University with a bachelor's degree from Babes Bolyai University - Cluj.

He has been a permanent lawyer at the Bistrita - Nasaud Bar Association since 2005, until this year working as a legal advisor at several companies.

He was proposed a member of the Board of Directors by GES Green Energy Specialists SRL.

 

c. Any agreement, understanding or family connection between that person and another person due to whom that person was appointed administrator.

 

           Not appropriate

 

  d. Administrator’s participation in the share capital of the trading company.

 

On 30.06.2020 the administrators held in S.C. PREBET AIUD S.A. a number of shares, as follows:

 

        No.

      Surname and name

            Number of shares

  Percentage

1.

Mathe Francisc

                        -

       -

2.

Ratiu Nicolae Christopher

              139.727

  0,3067%

3.

Deceau Liviu Daniel

                       -

       -

4.

Salagean-Mihetiu Sorin Florin

                       -

        -

5.

Morutan Alin

 -

        -

 

       e. List of affiliate persons to the trading company.

Not appropriate.

 

f.     List of  executive members of the trading company:

 

No.

         Surname and name

             Position

Profession

1.

Ciurescu Claudiu

General manager

Engineer

2.

Cimpean Ioan

Economic manager

Economist

 

 

 

 

 

g.    The term for which the person is part of the executive management

           

        Established by the Board of Directors through a mandate Agreement.

 

h.    Any agreement, understanding or family connection between that person and another person due to whom that person was appointed administrator.

 

         There is a business relationship between Mr. Hagea Liviu - significant shareholder and Mr. Ratiu Nicolae Christopher - member of the Board of Directors of Prebet Aiud SA.

 

i.      Participation of that person in the share capital of the trading company

 

On 30.06.2020 the members of executive management held in S.C. PREBET AIUD S.A. a number of

shares, as follows:

 

      No.

Surname, name

Number of shares

Percent

1.

Ciurescu Claudiu

-

       -

2.

Cimpean Ioan

17.673

 0.0388%

 

 

 

 

 

j.     For persons mentioned in paragraphs 4.1 and 4.2 indication of any litigation or administrative proceedings in which were involved related to their activity for the issuer.

 

        In the last 5 years the persons described in section 4.1 and 4.2. were not involved in litigation or administrative proceedings.

 

4. Changes affecting the issuer's capital and management

 

       In the first semester of the current year, changes took place both in terms of the composition of the Board of Directors and in terms of executive management. Thus, as a result of the OGMS of 28.04.2021, the structure of the Board of Directors was modified, Mr. Mathe Francisc being elected Chairman of the Board of Directors and Mr. Morutan Alin took the place of Mr. Demeter John. As a result of the decision of the Board of Directors no. 9 / 10.05.2021 dl. Ranca Flaviu was removed from the position of General Manager, Ciurescu Claudiu being appointed to this position.

 

4.1. Situations in which the issuer was unable to meet its financial obligations during the period

 

Not appropriate.

 

4.2.  Changes in the rights of the holders of securities issued by the issuer

 

Not appropriate.

 

5. Significant Transactions

       During the analyzed period, no major transactions were concluded concluded by the issuer with the persons acting in concert or in which these persons were involved in the relevant period of time (see deals). There are several lawsuits pending before the courts, including a concerted action by some shareholders, without a final decision.

           

6. Signatures

 

Administrator,

 

Chairman of the Board of Directors,                                                                          Economic Manager,

Mathe Francisc                                                                                                            Ec. Cimpean Ioan

 

The semester Report at 30.06.2021 will be available for shareholders and investors starting with 16.08.2021, 08:00, both hard copy at the Company’s premises and in electronic format on the website, www.prebet.ro section "Investor relation / Regular Reports, as well as in the link below:

 



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