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SIF BANAT CRISANA S.A. - SIF1

2022 Q1 Report

Release Date: 5/16/2022 6:00:14 PM

IRIS Code: DAB0D

FINANCIAL RESULTS AS OF MARCH 31, 2022

The results of SIF Banat-Crisana for the first three months of 2022 are impacted on one hand by the current extremely difficult investment context and on the other hand by the specifics of the first quarter of the year, in which recurring revenues are usually low and the major impact on the net result is that of to the investment gain / loss position.

SIF BanatCrisana’s net asset value, calculated in accordance with ASF regulations, was of RON 3,270.8m as of March 31, 2022, 4% lower vs. the value at 2021-year end.

The company went for an active investment position in the first three months of the year, with acquisitions of shares in listed issuers, partially taking advantage of the available liquidity reserve, constituted following a significant divestment activity during 2021.

In Q1 2022, the Company had dividend income amounting to RON 32.9m, representing the dividends distributed to shareholders by BRD. Interest income stood approximately at the same level as in the corresponding period of the previous year, chiefly related to financial assets at fair value through profit and loss.

The loss on investments amounts to RON 64m, vs. a favourable result of RON 101m as of March 31, 2021. The net loss is the result of the fair value measurement as of March 31, 2022, of the Financial assets at fair value through profit and loss. The movement of the global stock markets, impacted by the current geopolitical situation, has negatively influenced the market value of the shares listed locally and recorded in this category.

The expenses as of March 31, 2022, are below the level of those for the corresponding period of 2021, as most categories of expenses decreased.

The net loss as of March 31, 2022, amounting to RON 36.3m, is the effect of the result from the fair value measurement of the investments measured at fair value through profit and loss.

Total comprehensive income as of March 31, 2022, is unfavourable, amounting to RON 140m, being the effect of recognizing in other comprehensive income of the fair value decrease compared to 2021-year end, of the portfolio of financial assets classified in Assets at fair value through other comprehensive income - mainly shareholdings in the financial-banking sector.

The full version of Q1 2022 report is available on SIF Banat-Crisana website, www.sif1.ro, and on the link below:

Chairman of the Board of Directors & CEO, Bogdan-Alexandru DRAGOI

Financial Reporting Manager, Dorel BABA

 

 

 



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