Turbomecanica S.A.

Earnings Release • Feb 25, 2021

Bd. Iuliu Maniu Nr. 244 District 6 Zip Code 061126 Bucharest - Romania Tel .: (+4) 021 434 32 06; (+4) 021 434 07 41 Fax: (+4) 021 434 07 94 European Unique Identifier (EUID) ROONRC.J40/533/1991 Commerce Registry Code J40/533/1991 Tax Code RO3156315 Unique Registration Code 3156315 Subscribed share fully paid capital 36,944,247.50 RON www.turbomecanica.ro; e-mail: office@turbomecanica.ro

STATEMENT OF PROFIT AND LOSS AT 31 DECEMBER 2020 PRELIMINARY UNAUDITED FINANCIAL

	31 DECEMBER 2020	31 DECEMBER 2019
Revenues	116.649.430 -	114.960.057
Other gains and loss	(1.670.842) -	681.609
Change in inventories of finished goods and work in progress	11.926.805 -	8.924.079
Raw materials and consumables used	(40.424.698) -	(39.555.253)
Employee benefits expense	(49.784.876) -	(40.635.250)
Depreciation and amortisation expense	(8.954.392) -	(8.620.573)
Finance cost, net	(2.110.752) -	(2.161.895)
Other operating expenses	(8.637.205) -	(7.891.836)
Gross profit/Profit before tax	16.993.469	25.700.938
Income tax expense/ benefit	(3.316.935)	(3.781.636)
Net profit	13.676.534	21.919.302

GENERAL MANAGER,

RADU VIEHMANN ECONOMIC-COMMERCIAL MANAGER, CLAUDIA ANGHEL

STATEMENT OF FINANCIAL POSITION AT 31 DECEMBER 2020 PRELIMINARY UNAUDITED FINANCIAL

	31 DECEMBER 2020	31 DECEMBER 2019
Assets
Fixed assets
Property, plant and equipment, net	71.703.273	55.465.420
Intangible assets, net	1.329.012	3.391.723
Other assets	6.000	6.000
Total fixed assets	73.038.285	58.863.143
Current assets
Inventory	63.354.298	55.610.633
Trade receivables	12.372.365	4.540.984
Other receivables and prepayments	2.717.342	2.018.674
Cash and bank balances	5.148.791	4.105.218
Total current assets	83.592.796	66.275.509
Total assets	156.631.081	125.138.651
Shareholder equity and liabilities
Shareholder equity
Share Capital	1.024.571.055	1.024.571.055
Reserves	106.035.299	89.981.651
Retained earnings	(1.018.882.581)	(1.031.975.951)
Own shares	(599.408)	(599.408)
Total shareholder equity	111.124.364	81.977.346
Long term liabilities
Borrowings LT	4.242.853	3.567.060
Deferred tax liabilities	2.158.761	2.158.761
Provisions LT	1.800.095	1.840.284
Other liabilities LT	1	1
Total liabilities TL	8.201.710	7.566.106

Total shareholder equity and liabilities	156.631.081	125.138.651
Total liabilities	45.506.717	43.161.305
Total current liabilities	37.305.007	35.595.199
Other liabilities ST	9.559.695	8.161.569
Defferend income	2.178	2.178
Provisions ST	3.708.200	4.026.021
Income tax expense/benefit	1.787.072	889.100
Borrowings ST	20.424.538	14.128.979
Short term loans	1.823.323	8.387.340
Current liabilities

GENERAL MANAGER,

RADU VIEHMANN ECONOMIC-COMMERCIAL MANAGER, CLAUDIA ANGHEL