Santierul Naval Orsova S.A.

Annual / Quarterly Financial Statement • Feb 28, 2022

ŞANTIERUL NAVAL ORŞOVA S.A. Nr. RC J25/150/1991 CIF: RO 1614734 Capital social: - subscris 28.557.297,5 lei - varsat 28.557.297,5 lei Str. Tufări, nr. 4, Orşova, 225200, Mehedinţi Tel.: 0252/362.399; 0252/361.885; Fax: 0252/360.648 E-mail: mircea.sperdea@snorsova.ro; marketing@snorsova.ro Codul LEI (Legal Entity Identifier): 254900UXAJ8TPIKLXG79 Cod IBAN: RO96RNCB0181022634120001- B.C.R. Orşova Cod IBAN: RO59BRDE260SV03176142600- B.R.D. Orşova

Preliminary financial results at 31.12.2021

Șantierul Naval Orșova SA achieved in 2021 a net turnover of 74,406,233, 4.06% higher than in the corresponding period of 2020.

The gross profit realized in 2021, in the amount of 510,839 lei, is lower than the one registered in 2020, respectively budgeted for the exercise ended on December 31, 2021.

Between 01.01-31.12.2021, the operational incomes, in the amount of 74,669,943 lei, increased by 2.3% compared to those registered on 31.12.2020 (72,982,950 lei). Operating expenses, amounting to 74,660,228 lei, increased by 9.17%. compared to their level in the similar period of 2020 (68,386,077 lei).

The profit from the operational activity realized in 2021 was of 9,715 lei, this in the conditions in which at the main headquarters from Orșova from the shipbuilding activity an operating profit of 2,228,965 lei was realized, and the Agigea branch registered a loss of this activity of 2,219,250 lei.

From the financial activity, the company realized in 2021 a profit in the amount of 501,124 lei, with 11.72% higher than the one realized in 2020.

In 2021, the company Santierul Naval Orsova S.A. has achieved the following preliminary financial results:

Indicatori ( lei)	Cumulative	Cumulative	Evolution 2021/2020
	achievements at	achievements at	%
	31.12.2021	31.12.2020
Turnover	74.406.233	71.500.219	4,06
Total incomes	75.533.784	73.660.173	2,54
Total expenses	75.022.945	68.614.757	9,34
Gross profit /(Gross loss)	510.839	5.045.413	(89,87)
Net profit /(Net loss)	(153.870)	4.653.501	-

Preliminary financial results at 31.12.2021 can be consulted by accessing the link below.

President of the Board of Directors Economical Manager Radu Claudiu Rosca Ec.Marilena Visescu

Status of the Financial Position on 31.12.2021

Row

Reference			2021	2020	Adjustment 2020+(-)
	Assets		(lei)	(lei)	(lei)
	Fixed assets
IAS 1.54(a)	Tangible assets	01	40.533.245	37.417.314
	Lands and land arrangements	02	1.201.941	1.201.941
	Constructions	03	20.060.165	16.999.328
	Technical equipments and transport means	04	15.641.959	16.373.915
	Furniture, office automation []	05	64.602	53.638
	Pending tangible assets	06	3.564.578	2.788.492
IAS 1.54(b)	Investment property	07	522.236	508.019
IAS 1.54(c)	Intangible assets	08	20.138	6.192
	Other intangible assets	09	20.138	6.192
Ifrs 16,IAS 8	Rights to use the leased assets	10	1.559.962	0	1.950.983
IAS 1.54(h)	Trade receivables and other receivables	11	541.401	417.495
IAS 1.54(o), 56	Receivables concerning the delayed taxation	12	80.129	79.048
IAS 1.60	Total of Fixed Assets	13	43.257.111	38.428.068	1.950.983
	Current assets
IAS 1.54 (g)	Stocks	14	22.400.725	34.611.321
IAS 1.54(h)	Trade receivables and other receivables	15	20.330.881	1.185.231
IAS 1.55	Expenses recorded in advance	16	165.412	130.348
IAS 1.54(d)	Short term investments	17	3.087.107	3.857.609
IAS 1.54(i)	Cash and cash equivalents	18	14.365.368	30.825.273
IFRS 5.38- 40	Assets classified as held for sale	19	0	18.637
IAS 1.60	Total of Current Assets	20	60.349.493	70.628.419
	Total of Assets	21	103.606.604	109.056.487	1.950.983
111	Equity capital
IAS 1.54(r), 78(e)	Share capital	22	28.557.298	28.557.298
IAS 1.55, 78(e)	Capital premiums	23	8.862.843	8.862.843
IAS 1.54(r), 78(e)	Spares	24	54.896.946	51.777.818
	Result of the financial year	25	(153.870)	4.653.501	(18.127)
IAS 1.55, 78(e)	Reported result	26	941.454	7.743.844	(5.849)

	Total Equity Capitals and Debts	38	103.606.604	109.056.487	1.950.983
	Total of debts	37	14.840.177	11.681.938	525.239
IAS 1.60	Total Current Debts	36	9.439.984	7.644.802	525.239
IAS 1.54(l)	Provisions	35	1.032.015	1.025.258
IAS 1.55	Advance registered incomes	34	3.801	215
IAS 1.54(k)	Commercial debts and other debts, including derived financial instruments	33	8.404.168	6.619.329	525.239
	Current debts
IAS 1.60	Total of Long-term debts	32	5.400.193	4.037.136	1.449.720
Ifrs 16,IAS 8	Other debts , incl.leasing	31	1.047.860	-	1.449.720
IAS 1.54(o), 56	Debts concerning the delayed taxation	30	4.352.333	4.037.136
	Long-term debts
	Debts
	Total Equity Capitals	29	88.766.427	97.374.549	(23.976)
	Other elements of Equity Capital	28	(4.338.244)	(4.028.932)
	Profit allotment	27	0	(191.823)

Reference

+(=		Row	2021 lei	2020 lei	Adjustment 2020 +(-)
	Permanent Activities
IAS 1. 82(a)	Incomes	01	73.328.989	69.934.196
IAS 1.99,103	Other incomes	02	1.340.954	3.048.754
	Total Operational Incomes	03	74.669.943	72.982.950
	Expenses concerning the stocks Expenses concerning the utilities	04 05	(27.468.440) (1.738.305)	(24.591.973) (1.478.986)
	Expenses with the benefits of the	06	(29.665.566)	(29.137.247)
	employees Expenses with the depreciation and impairment of the immobilisations	07	(4.102.416)	(3.894.411)
	Depreciation expenses related to the use of leasing assets	08	(533.595)	0	(520.262)
	Profit / loss from the immobilisations' disposals	09	(1.691)	(173.704)
	Value adjustment of the current assets	10	2.479.113	4.076.694
	Adjustment of commissions	11	(6.757)	(394.023)
IAS 1.99, 103	Other expenses	12	(13.622.571)	(12.792.427)	547.091
	Total Operational Expenses	13	(74.660.228)	(68.386.077)	26.829
	Result of the Operational Activities	14	9.715	4.596.873
	Financial Incomes	15	863841	677.223
IAS 1.82(b)	Financial expenses	16	(362.717)	(228.680)	(44.956)
	Net Fiscal Result/ Net Fiscal Result	17	501.124	448.543	(44.956)
IAS 1.85	Result before Taxation	18	510.839	5.045.416	(18.127)
IAS 1.82(d) IAS 12.77	Expenses with the tax on the current profit	19	(646.234)	(357.813)
	Expenses with the tax on the delayed profit	20	(740.130)	(365.108)
	Specific tax expense	21	(13.671)	(13.671)
	Incomes corresponding to the tax on the delayed profit	22	735.326	344.677
IAS 1.85 IAS 1.82(f)	Result from Permanent Activities Result of the Period	23 24	(153.870) (153.870)	4.653.501 4.653.501	(18.127) (18.127)
	Other parts of the Global Result
IAS 1.82(g)	Re-assessment of the tangible assets	25	3.033.564	(870.726)
IAS 1.85	Other elements of the Global Result, after Taxation	26	3.033.564	(870.726)
IAS 1.82 (i)	Total of the Global Result corresponding to the Period Profit assigned	27	2.879.694	3.782.775	(18.127)

IAS 1.83(b)(ii)	To the company's Shareholders	28	(153.870)	4.653.501	(18.127)
	Profit of the period	29	(153.870)	4.653.501	(18.127)
	Total assigned global result
IAS 1.83(b)(ii)	To the company's shareholders	30	2.879.694	3.782.775	(18.127)
	Result per action/ Result per action
IAS 33.66	Result per main action	31	(0,01)	0,41	(0,0015)
IAS 33.66	Result per action attenuated	32	(0,01)	0,41	(0,0015)
	Permanent activities
IAS 33.66	Result per main action	33	(0,01)	0,41	(0,0015)
IAS 33.66	Result per action attenuated	34	(0,01)	0,41	(0,0015)

President of the Board of Directors , Radu -Claudiu Rosca

Economical Manager, Ec. Marilena Visescu