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SIF OLTENIA S.A. - SIF5

H1 2021 Consolidated report

Release Date: 9/24/2021 6:00:18 PM

IRIS Code: BD5A0

 

Half-yearly report as of 30.06.2021 – The interim consolidated financial statements  

 

 

The interim consolidated financial statements as of 30.06.2021 were prepared in accordance with the requirements of IAS 34 ,,Interim Financial Reporting” and must be read together with the consolidated financial statements for 2020, prepared in accordance with Regulation no. 39/2015 for the approval of the Accounting Regulations in compliance with the International Financial Reporting Standards applicable to the entities authorized, regulated and supervised by the Supervisory Authority from the Financial Instruments and Investment Sector.

 

Based on the provisions of Law 24/2017 and Regulation no. 5/2018 regarding issuers of financial instruments and market operations, the Company prepares half-yearly consolidated accounting reporting in accordance with IFRS.

The half-yearly consolidated accounting report shall be prepared and submitted to the ASF no later than 3 months after the end of the semester.

 

In the consolidation scope were included a number of 12 companies, in which the ownership is over 50% of the voting rights, which were consolidated by the method of global integration.

The 12 trading companies represent a weight of 13.94% in the total assets of the Company and 15.67% respectively in its net assets.

 

On 30.06.2021 the Group mainly held shares in companies operating in the field of finance-banks with a share of 59.99% of the total market value of the portfolio, increasing as of 31.12.2020, when the same business sector recorded a share of 59.24%.

 

On June 30th, 2021 and December 31st, 2020, the Group has the following structure of financial assets:

 

In lei

Co.

Market value 30.06.2021

Co.

Market value 31.12.2020

Capital investments

Listed companies

23

1,944,672,864

24

1,641,178,221

Unlisted companies

21

87,158,236

22

87,032,773

Fund units

4

4,252,073

4

3,598,943

Total financial assets

48

2,036,083,173

50

1,731,809,937

 

 

THE INTERIM CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OF OTHER ELEMENTS OF THE COMPREHENSIVE INCOME

 

In RON

30 June

2021

30 June

2020

 

 

 

Incomes

 

 

Gross incomes from dividends

31,688,399

30,767,103

Incomes from interests

152,248

224,654

Other operating income

64,822,033

89,885,909

Net profit from exchange rate differences

768,690

509,677

Profit from financial assets at fair value through the profit or loss account

653,130

(338,844)

Gain from the sale of financial assets measured at fair value through profit or loss

1,461

-

Expenses

 

 

Fees and management and supervision taxes

(1,617,971)

(1,374,906)

Revenues from reversal of provisions for risks and expenses

5,300,262

408,209

Other operational expenses

(71,407,495)

(89,609,340)

Profit before taxation

30,360,757

30,472,462

 

 

 

Profit tax

(1,681,366)

(1,644,363)

 

 

 

Net profit of the financial year

28,679,391

28,828,099

Other elements of the comprehensive income

 

 

Earnings related to the transfer of financial assets assessed at fair value through other elements of the comprehensive income, net of tax recognized in the result carried forward

231,558

23,214,575

Reserve variation from the reassessment of the tangible assets, net of deferred tax

 

-

Net variation of the fair value of financial assets assessed through other elements of the comprehensive income

241,213,527

(303,933,236)

Fair value reserve of the financial assets assessed through other elements of the comprehensive income delivered, transferred into the result carried forward, net of tax

(231,558)

(22,500,514)

 

 

 

Total other elements of the comprehensive income

241,213,527

(303,219,175)

Total comprehensive income for the period

269,892,918

(274,391,076)

Afferent net profit

 

 

Company shareholders

27,954,414

27,684,030

Minority interest

724,977

1,144,069

 

28,679,391

28,828,099

Afferent comprehensive result

 

 

Company shareholders

267,050,637

(273,233,698)

Minority interest

2,842,281

(1,157,378)

 

 

 

 

269,892,918

(274,391,076)

Result per share

 

 

Basic

0.0559

0.0477

Diluted

0.0559

0.0477

 

INTERIM CONSOLIDATED FINANCIAL POSITION

 

In RON

30 June

2021

31st December

2020

Assets

 

 

Cash and cash equivalents

20,055,464

21,107,444

Deposits placed in banks

33,398,705

46,445,240

Financial assets assessed at fair value through other elements of the comprehensive income

2,031,831,100

1,728,210,994

Financial assets assessed at fair value through the profit or loss account

4,252,073

3,598,943

Loans and receivables

9,138,627

31,458,864

Tangible assets

88,116,334

88,387,397

Real estate investments

101,026,835

101,044,820

Other assets

83,091,035

129,971,552

Total assets

2,370,910,173

2,150,225,254

Liabilities

 

 

Payable dividends

87,740,551

62,084,594

Taxes and fees

2,501,492

4,469,322

Deferred tax payables

132,342,589

87,469,908

Other payables

39,911,885

132,062,673

Total payables

262,496,517

286,086,497

Equity

 

 

Registered capital

50,000,000

52,214,914

Share capital adjustment

2,182,562,011

2,182,560,795

Other elements of equity

662,796,170

423,847,073

Reserves from revaluation of tangible assets

40,746,714

40,795,368

Legal and statutory reserves

29,601,406

29,594,347

Other reserves

      638,864,994

669,654,915

Own shares

-

(2,214,914)

Other losses related to equity instruments

-

(59,747,655)

Carried result representing non-allocated profit or non-covered loss

(21,067,540)

(18,455,265)

The result carried forward as a result of the application of IAS 29 on the share capital and reserves

(3,932,756,014)

(3,932,756,014)

The result carried forward as a result of the application of IAS without IAS 29

2,391,914,894

2,391,064,446

Current profit

27,954,414

51,708,763

Total equity attributable to the main company

2,070,617,049

1,828,266,773

Minority interest

 of which:

37,796,607

35,871,984

Profit or loss of the financial year for non-controlling interests

724,977

468,930

Other equity

37,071,630

35,403,054

Total capital

2,108,413,656

1,864,138,757

Total payables and equity

2,370,910,173

2,150,225,254

 

The interim financial statements consolidated on 30.06.2021 are not audited by the external financial auditor.

 

S.I.F. OLTENIA S.A. notifies the shareholders and investors that the Report of the Board of Administration and Interim Consolidated Financial Statements as of 30.06.2021– prepared in accordance with the legal provisions – will be available to be found, starting with 24.09.2021, 18:00 p.m., at the internet page:

 

http://www.sifolt.ro/en/raportari/2021/conss/consolidate.html

 

The Report of the Board of Administration and the Interim Consolidated Financial Statements as of 30.06.2021 will be made available for those concerned – starting with the same date – at the headquarters of S.I.F. OLTENIA S.A. from Craiova, 1Tufanele Street.

 

 

as well as the link below:

 

 

 

Sorin – Iulian CIOACA

President / General Manager

 

 

Viorica Balan

Compliance Officer



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