Turbomecanica S.A.

Annual / Quarterly Financial Statement • Feb 16, 2018

244 Iuliu Maniu Avenue, Sector 6 Postal Code 061126 Bucharest - Romania Tel.: (+4) 021 434 32 06; (+4) 021 434 07 41 Fax: (+4) 021 434 07 94 Registry Number J40/533/1991 Fiscal Code RO3156315 Unique Registration Number 3156315 Subscribed paid up social capital 36.944.247,50 RON www.turbomecanica.ro; e-mail: office@turbomecanica.ro

No.:61 Date:15.02.2018

Subject:

STATEMENT OF FINANCIAL POSITION AT 31 DECEMBER 2017

PRELIMINARY

UNAUDITED FINANCIAL

	31 DECEMBER 2017	31 DECEMBER 2016
Assets
Fixed assets
Property, plant and equipment, net	59.961.955	58.036.177
Intangible assets, net	6.784.610	8.777.087
Other assets	1.000	604.960
Total fixed assets	66.747.565	67.418.225
Current assets
Inventory	36.947.781	25.039.278
Trade receivables	2.919.215	2.684.621
Other receivables and prepayments	1.424.758	3.048.543
Cash and bank balances	9.636.856	11.501.493
Non current assets classified as held for
sale	6.966.252	7.048.889
Total current assets	57.894.863	49.322.823
Total assets	124.642.429	116.741.048

Shareholder equity and liabilities

Shareholder equity
Share Capital	1.024.571.055	1.024.571.055
Reserves	87.256.119	80.520.812
Retained earnings	(1.050.713.670)	(1.058.231.122)
Own shares	-	(562.427)
Total shareholder equity	61.113.503	46.298.318
Long term liabilities
Borrowings LT	4.312.628	3.186.319
Deferred tax liabilities	3.698.929	3.698.929
Provisions LT	1.123.788	1.382.087
Other liabilities LT	1	1.022.968
Total liabilities TL	9.135.346	9.290.302
Current liabilities
Short term loans	5.817.305	7.007.591
Borrowings ST	38.503.087	41.406.464
Income tax expense/benefit	3.965.667	1.252.348
Provisions ST	3.597.787	2.856.881
Defferend income	884.678	160.063
Other liabilities ST	1.625.054	8.469.080
Total current liabilities	54.393.579	61.152.428
Total liabilities	63.528.926	70.442.730
Total shareholder equity and liabilities	124.642.429	116.741.048

GENERAL MANAGER,

RADU VIEHMANN FINANCIAL & COMMERCIAL DIRECTOR, ION DINCA

Nr.:62 Data:15/02/2018

Subiect: STATEMENT OF PROFIT AND LOSS AT 31 DECEMBER 2017 PRELIMINARY UNAUDITED FINANCIAL

	31 DECEMBER 2017		31 DECEMBER 2016
Revenues	100.766.069	-	83.030.250
Other gains and loss	9.422.501	-	1.659.084
Change in inventories of finished goods and work in progress	5.847.409	-	652.921
Raw materials and consumables used	(38.753.621)	-	(31.302.180)
Employee benefits expense	(31.184.420)	-	(26.083.371)
Depreciation and amortisation expense	(12.233.319)	-	(5.799.848)
Finance cost, net	(3.405.908)	-	(3.076.578)
Othe operating expenses	(11.841.277)	-	(5.743.465)
Gross profit/Profit before tax	18.617.435		13.336.813
Income tax expense/ benefit	3.965.667		2.463.768
Net profit	14.651.768		10.873.045

GENERAL MANAGER,

RADU VIEHMANN FINANCIAL&COMMERCIAL DIRECTOR ION DINCA