Turbomecanica S.A.

Earnings Release • Mar 4, 2020

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

Current Report No. 03 of 28.02.2020

Under the provisions of theASF Regulation no. 5 / 2018 on the issuers of financial instruments and market operations and of the Law no. 24 / 2017 on the issuers of financial instruments and market operations

Reporting date: 28.02.2020 Name issuing entity: TURBOMECANICA SA Headquarters: Bucharest, 244 Iuliu Maniu Blvd., district 6 Phone no.: 021 434 32 06 021 434 07 41 facsimile: 021 434 07 94 Unique Registration Code with the Trade Registry Office: RO 3156315 Registration number with the Trade Registry: J40/533/1991 LEI Code 529900O5AIXHHACIZH85 Subscribed and integrally paid in capital: 36.944.247,50 lei Regulated market where the issued receivables are traded: Bucharest Stock Exchange Capital Titles Standard Shares

I. Important events to report:

Turbomecanica SA makes available for the investor and the regulating entities the preliminary financial results for the financial year closing on 31.12.2019 by publishing them on the web site of the Company www.turbomecanica.ro and on BVB web site by accessing the link below.

Board of Directors by President, General Manager Eng. Radu Viehmann

STATEMENT OF FINANCIAL POSITION AT 31 DECEMBER 2019 PRELIMINARY UNAUDITED FINANCIAL

	31 DECEMBER 2019	31 DECEMBER 2018
Assets Fixed assets
Property, plant and equipment,
net	55.465.420	54.393.716
Intangible assets, net	3.391.724	4.620.294
Other assets	6.000	1.772.000
Total fixed assets	58.863.144	60.786.009
Current assets
Inventory	55.210.633	38.203.237
Trade receivables	4.540.982	2.452.667
Other receivables and
prepayments	2.018.674	1.762.178
Cash and bank balances	4.105.185	6.990.513
Total current assets	65.875.476	49.408.595
Total assets	124.738.618	110.194.604
Shareholder equity and liabilities
Shareholder equity
Share Capital	1.024.571.055	1.024.571.055
Reserves	87.648.178	87.815.126
Retained earnings	(1.030.258.368)	(1.036.441.556)
Own shares	(599.408)	(599.408)
Total shareholder equity	81.361.457	75.345.217
Long term liabilities
Borrowings LT	3.567.060	1.713.317
Deferred tax liabilities	2.163.750	2.163.750
Provisions LT	1.840.284	1.493.086
Other liabilities LT	1	1
Total liabilities TL	7.571.095	5.370.154
Current liabilities
Short term loans	8.387.340	2.791.929

Borrowings ST	14.128.990	12.019.531
Income tax expense/benefit	1.100.000	3.303.399
Provisions ST	4.026.021	3.900.826
Defferend income	2.178	159.227
Other liabilities ST	8.161.537	7.304.321
Total current liabilities	35.806.066	29.479.233
Total liabilities	43.377.161	34.849.387
Total shareholder equity and liabilities	124.738.618	110.194.604

GENERAL MANAGER,

RADU VIEHMANN ECONOMIC-COMMERCIAL MANAGER, CLAUDIA ANGHEL

Subject: STATEMENT OF PROFIT AND LOSS AT 31 DECEMBER 2019 PRELIMINARY UNAUDITED FINANCIAL

	31 DECEMBER 2019		31 DECEMBER 2018
Revenues	114.960.057	-	112.387.772
Other gains and loss Change in inventories of finished	681.610	-	484.761
goods and work in progress Raw materials and consumables	8.524.079	-	(1.043.853)
used	(39.555.253)	-	(30.764.226)
Employee benefits expense Depreciation and amortisation	(40.635.250)	-	(34.250.089)
expense	(8.620.573)	-	(8.490.388)
Finance cost, net	(2.161.896)	-	(2.894.519)
Other operating expenses (Loss)/Gain from sale of assets	(7.891.836)	-	(7.016.569)
held for sale	-		809.724
Gross profit/Profit before tax	25.300.938		29.222.612
Income tax expense/ benefit	(3.997.525)		(4.374.895)
Net profit	21.303.413		24.847.717

GENERAL MANAGER,

RADU VIEHMANN ECONOMIC-COMMERCIAL MANAGER, CLAUDIA ANGHEL