ALTUR SA

RC J28/131/1991, CUI: RO1520249 Pitesti Street, No.114, Code 230104, SLATINA, OLT, ROMANIA Tel:0040249/436834; Fax: 0040249/436037 www.altursa.ro

IATF 16949:2016

QUARTELY REPORT

Quarter III 2024

in accordance with the provisions of Law no. 24/2017, Regulation ASF no.5/2018 and Code of Bucharest Stock Exchange Report date: 14.11.2024

Name of the issuing company: ALTUR SA Headquarters: Slatina, Piteşti street , Nr.114, Olt Telephone / fax number: 0249/436834; 0249/436037 Unique registration code: RO 1520249 Registering number in the Trade Register: J28 / 131/1991 European Unique Identifier (EUID):ROONRCJ28/131/1991 COD LEI: 259400IHBSVL9OOVM346 Subscribed and paid- up capital: 30,604,867 RON No.shares/nominal value: 306,048,670 share with nominal value of 0.1 ron Trading Market : Stock Exchange-Bucharest, Standard Category, ALT symbol

1. The third quarter did not represent a period of significant events with significant impact on the financial position of the company.

Indicator name		Nr	Achieved on	Achieved on
		Row	30.09.2023	30.09.2024
1 Net turnover (row. 02+03-04+05)		01	102,983,784	81,676,733
Sold Production (acc. 701+702+703+704+705+706+708 - 6815)		02	103,070,110	81,773,145
Income from sale of goods (acc. 707 - 6815)		03	25,641	3,403
Commercial discounts granted (acc. 709)		04	111,967	99,815
Revenue from operating grants related to net turnover (acc. 7411)		05	-	-
2. Income from the cost of inventories of products	Sold C	06	116,404	-
(acc. 711+712+713)	Sold D	07	-	-
3. Income from the production of real estate and investment property		08	204,323	226,532
(row.09+10)
4. Income from the production of intangible and tangible assets		09	204,323	226,532
(acc. 721+722)

2 PROFIT AND LOSS ACCOUNT

5. Income from real estate investment production (acc.725)	10	-	-
6. Income from fixed assets (or disposal groups) held for sale (acc.753)	11	-	-
7. Income from the revaluation of intangible and tangible assets	12	-	-
(acc.755)
8. Revenue from real estate investments (acc.756)	13	-	-
9. Income from biological assets and agricultural products (acc.757)	14	-	-
10. Income from operating grants in case of calamities and similar events (acc.7412+7413+7414+7415+7416+7417+7419)	15	-	-
11. Other operating revenues (acc.758+751), of which:	16	206,021	540,529
- income from investment subsidies (acc.7584)	17	-	-
- earnings from purchases in advantageous conditions (acc.7587)	18	-	-
OPERATING REVENUE – TOTAL	19	103,510,532	78,756,442
(row. 01+06-07+08+11+12+13+14+15+16)
12.a) Expenditure on raw materials and consumables	20	52,859,796	39,010,550
(acc. 601+602)
Other material expenses (acc. 603+604+606+608)	21	532,561	414,460
b) Other external costs (energy and water) (acc.605)	22	10,531,659	6,286,589
c) Expenditure on goods (acc. 607)	23	10,103	3,432
Trade discounts received (acc. 609)	24	-	-
13. Staff costs (rd. 26+27)	25	22,833,271	22,799,160
a) Salaries and allowances (acc. 641+621+642+643+644-7414)	26	22,372,549	22,339,174
b) Expenditure on insurance and social protection (acc.645+646)	27	460,722	459,986
14.a) Value adjustments on intangible assets, plant and equipment,	28	4,057,896	4,731,957
investment property and biological assets measured at cost (29+30-31)
a.1) Costs (acc. 6811+6813+6816+6817+from acc.6818)	29	4,223,965	4,462,619
a.2) Depreciation expense on assets af. rights of use of leased assets	30	291,058	269,338
(acc.685)
a.3) Income (acc. 7813+7816+from acc.7818)	31	457,127	-
b) Value adjustments for current assets (row. 33 – 34)	32	(139,523)	(933,447)
b.1) Costs (acc.654+6814+from acc.6818)	33	2,376,203	88,016
b.2) Income (acc. 754+7814+from acc.7818)	34	2,515,726	1,021,463
15. Other operating expenses (row.36 at 44)	35	4,780,666	3,514,989
15.1) Expenditure on external benefits (acc.611+612+613+614+	36	3,448,135	2,717,322
+615+622+623+624+625+626+627+628)
15.2) Expenses with other taxes, fees and similar charges (acc.635)	37	684,138	255,888
15.3 )Expenditure on environmental protection (acc.652)	38	4,697	23,641
15.4) Expenses related to fixed assets (or disposal groups) held for sale	39	-	-
acc.653)
15.5) Expenses from revaluation of intangible and tangible assets	40	-	-
(acc.655)
15.6) Expenditure on real estate investments (acc. 656)	41	-	-
15.7) Expenditure on biological assets and agricultural products (657)	42	-	-
15.8) Expenditure on calamities and other similar events (acc.6587)	43	-	-
15.9) Other expenses (acc. 651+6581+6582+6583+6584+6585+6588)	44	643,696	518,138
16. Adjustments on provisions (row.46 – 47)	45	-	-
Costs (acc. 6812)	46	-	-
Income (acc. 7812)	47
OPERATING EXPENDITURE – TOTAL	48	95,466,429	75,827,690
(row. 20 at 23-24+25+28+32+35+45)
RESULTS FROM OPERATION:

- Profit (rd. 19- 48)	49	8,044,103	2,928,752
- Loss (rd. 48-19)	50	-	-
17. Income from shares held in subsidiaries (acc.7611)	51	-	-
18. Income from shares held in associated entities (acc.7612)	52
19. Income from shares held by associated entities and jointly	53	-	-
controlled entities (acc. 7613)
20. Income from operations with securities and other financial	54	-	-
instruments (acc.762)
21. Income from operations with derivatives (acc. 763)	55	-	-
22. Income from exchange rate fluctuations (acc.765)	56	622,766	164,330
23. Interest income (acc.766)	57	3	261
- of which, the income earned from entities in the group	58	-	-
24. Income from operating subsidies for interest due (acc.741.8)	59
25. Short-term financial investment income (acc.7614)	60
26. Other incomes (acc. 7615+764+767+768)	61	3,607	3,520
FINANCIAL INCOME - TOTAL	62	626,376	168,111
(row.51+52+53+54+55+56+57+59+60+61)
27. Value adjustments for financial assets and financial investments	63	-	-
held as current assets (row.64-65)
Expenditure (acc.686)	64	-	-
Income (acc. 786)	65	-	-
28. Expenditure on operations in securities and other financial	66	-	-
instruments (acc.661)
29. Expenditure on derivative operations (acc.662)	67	-	-
30. Interest charges (acc.666)	68	928,840	1,330,349
- of which, the income earned from entities in the group	69	-	-
31. Interest expenses related to leasing contracts (acc.6685)	70	39,962	21,626
32. Other financial expenses	71	870,412	416,369
(acc.663+664+665+667+6681+6682+6688)
FINANCIAL EXPENDITURE – TOTAL	72	1,839,214	1,768,344
(row. 63+66+67+68+70+71)
PROFIT OR FINANCIAL LOSS):
- Profit (row. 62-72)	73	-	-
- Loss(row. 72-62)	74	1,212,838	1,600,233
TOTAL INCOME (row. 19+62)	75	104,136,908	78,924,553
TOTAL EXPENSES (rd. 48+72)	76	97,305,643	77,596,034
33. GROSS PROFIT OR LOSS
- Profit (row. 75-76)	77	6,831,265	1,328,519
-Loss (row. 76-75)	78	-	-
34. Current income tax (acc. 691)	79	-	-
35. Profit tax deferred (acc. 692)	80	-	-
36. Income from deferred tax (acc. 792)	81	-	-
37. Corporate tax expense caused by uncertainties related to tax	82	-	-
treatments (acc.693)
39. Other taxes not shown in the above items (acc.698)	84	-	-
40. THE PROFIT OR LOSS OF THE REPORTING PERIOD:
- Profit (row.77-79-80+81-82-83-84)	85	6,831,265	1,328,519
- Loss (row.78+79+80-81+82+83+84); (row.79+80+82+83+84 -	86
81-77)

B Economic and financial indicators

NR. CRT.	NAME OF THE INDICATOR	CALCULATION METHOD	RESULT
		Current assets
1.	Current liquidity indicator	Current debts	1.95
		Borrowed Capital x100
2.	The indebtedness indicator (%)	Personal capital	20.56
	Flow rate of customer flows	Balance average x 90
3.	(Days)	Turnover	60.58
		Turnover x 360
4.	Speed of rotation of fixed assets	Fixed assets 90	1.86

The financial statements of the third quarter of 2024 have not been audited.

Attachments: – Situation of assets, debts and equity on 30.09.2024;

– Incomes and expenses at 30.09.2024;

– Notes to the Financial Statements as of 30.09.20234.

President – General Manager Ec. Sergiu BURCĂ

Chief Financial Officer

Ec. Mioara Luminița Popescu

UNIT S.C. ALTUR S.A PREPONDERANCE ACTIVITY ADDRESS loc. Slatina, (class name CAEN) ORDER NUMBER IN THE TRADE REGISTER J28/131/91 TAX CODE____/1/5/2/0/2/4/9/

COUNTY OLT FORM OF OWNERSHIP _____/3/4/ Str. Piteşti, nr. 114 CLASS CODE CAEN________2/9/3/2/ TELEPHONE 436035 FAX 436037 UNIQUE REGISTRATION CODE 1520249

SITUATION OF ASSETS, LIABILITIES AND EQUITY

On 30 September 2024

			- RON -
	No	Balance at	Balance at
	row	31.12.2023	30.09.2024

A. IMMOBILIZED ASSETS
I. INTANGIBLE ASSETS
1. Development expenditure ( acc.203-2803-2903)	01	-	-
2. Concessions, patents, licenses, trademarks, rights and similar	02	-	-
values and other intangible assets
(acc. 205+208-2805-2808-2905-2906-2908)
3. Commercial Fund (acc. 2071)	03	-	-
4. Advances (acc.409.4)	04
5. Intangible assets for exploitation and assessment of mineral	05
resources (acc. 206-2806-2907)
TOTAL (row. 01 la 05)	06	-	-
II. BODILY IMMOBILIZERS
1. Land and construction (acc. 211+212-2811-2812-2911-2912)	07	43,450,059	42,614,569
2. Machinery and equipment (acc. 213+223-2813-2913)	08	11,931,807	9,935,328
3. Other installations, machinery and furniture (acc.214+224-	09	304,332	273,049
2814-2914)
4. Real Estate Investments (acc. 215-2815-2915)	10	1,008,403	1,008,403
5. Tangible assets in the process of execution (acc. 231-2931)	11	1,576,894	1,929,845
6. Real estate investments in the course of execution (acc.235- 2935)	12	-	-
7. Tangible assets of exploitation and assessment of mineral	13
resources (acc. 216-2816-2916)
8. Productive plants (acc.218-2818-2918)	14	-	-
9. Advances (acc.409.3)	15	168,440	146,153
TOTAL (row. 07 la 15)	16	58,339,935	55,907,347
III. BIOLOGICAL ASSETS (acc.241-284-294)	17
IV. RIGHTS TO USE THE LEASED ASSETS (acc.251-	18	2,100,415	1,845,558
285-295)
V. FINANCIAL IMMOBILIZERS
1. Shares held in subsidiaries (acc. 261 - 2961)	19	-	-
2. Loans to group entities (acc.2671+2672-2964)	20	-	-
3. Shares owned by associated entities and jointly controlled	21	-	-
entities (acc. 262+263-2962)
4. Loans granted to associated entities and jointly controlled	22	-	-
entities (acc.2673+2674-2965)
5. Other restrayed titles (acct. 265+266-2963)	23	-	-
6. Other loans (acc. 2675+2676+2678+2679-2966-2968)	24	731,500	731,500

TOTAL (row. 19 la 24)	25	-	-
IMMOBILIZED ASSETS – TOTAL (row.	26	61,171,850	58,484,405
06+15+16+17+24)
B. CIRCULATING ASSETS
I. STOCKS
1. Raw materials and consumables (acc.301+302+303+ +/-	27	1,904,188	858,996
308+321+322+323+328 +351+358+381+/-388-391-392-3951-
3958-398)
2. Immobilized assets owned for sale (acc.311)	28	-	-
3. Production in progress (acc. 331+341+/-348 -393-	29	3,474,762	5,274,139
3941-3952)
4. Finished products and Commodities (acc.327+345+346+347	30	18,465,952	12,979,224
+/-348+354+357+371+/-378-3945-3946-3953-3954-3957-397-
4428)
5. Advances (acc. 4091)	31	3,446,752	4,077,122
TOTAL (row. 27 at 31)	32	27,291,654	23,189,481
II. CLAIMS
(The amounts to be cased after a period of more than one year
shall be presented separately for each item.)
1. Commercial Receivables (acc. 2675+2676+2678+2679-2966-	33	15,511,216	17,951,885
-2968 + 411+ 413 + 418 - 491)
2. Paid advances (acc. 4092)	34		59,500
3. Amounts receivable from group entities (acc. 451 – 495)	35	-	-
4. Amounts receivable from associated entities and jointly	36	-	-
controlled entities (acc. 453 – 495)
5. Claims resulting from operated with derivative instruments	37	-	-
(acc.4652)
6. Other claims (acc.425+4282+431+437+4382+441+4424+	38	7,444,482	5,818,843
4428 +444+445+446+447+4482+4582+461+473-496+5187)
7. Subscribed and unposted Capital (acc. 456-495)	39
8. Receivables representing dividends distributed during the	40
financial year. (acc.463)
TOTAL (row. 33 at 40)	41	22,955,698	23,830,228
III. SHORT-TERM INVESTMENTS	42
(acc. 505+506+508-595-596-598+5113+5114)
IV. HOUSE AND BANK ACCOUNTS	43	3,954,992	2,658,689
(acc.5112+512+531+532+541+542)
CIRCULATING ASSETS – TOTAL	44	54,202,344	49,678,398
(row. 32+41+42+43 )
C. EXPENSE IN ADVANCE (acc.471) (row. 44 + 45)	45	-	650,441
Amounts to resume in a period of up to one year (from acc.471)	46	-	650,441
Amounts to resume over a period of more than one year (from	47
acc.471)
D. LIABILITIES: AMOUNTS TO BE PAID OVER A
PERIOD OF UP TO ONE YEAR
1. Loans from bond issues, presenting themselves separate loans	48
from the bond issue convertible (acc. 161+1681-169)
2. Amounts due to credit institutions (acc.1621+1622+	49	16,289,477	12,730,858
+1624+1625+1627+1682+5191+5192+5198)
3. Advances received in order account (acc.419)	50	334,473	22,477
4. Commercial liabilities-Suppliers (acc. 401+404+408+4641)	51	13,164,569	6,778,174
5. Trade effects payable (acc.403+405)	52
6. Amounts due to group entities (acc.1661+1685+2691+451)	53	-	-

7. Amounts due to associated entities and jointly controlled	54	-	-
entities (acc. 1663+1686+2692+453)
8. Liabilities resulting from derivative operations (acc465)	55	-	-
9. Other liabilities including tax liabilities and other liabilities	56	10,300,073	5,884,080
relating to social security (acc.1623+1626+167+1687+2963+
+421+422+423+424+426+427+4281+431+437+4381+441+
+4423+4428+444+446+447+4481+455+456+457+4581+
+462+473+509 +5186+5193+5194+5195+5196+5197)
TOTAL (row. 48 la 56)	57	40,088,592	25,415,589
E. NET CIRCULATING ASSETS, RESPECTIVELY NET CURRENT LIABILITIES (row.44+46-57-74-77-80 )	58	14,113,752	19,951,404
F. TOTAL ASSETS MINUS CURRENT DEBTS	59	75,285,602	78,435,809
(row. 26 + 47 + 58)
G. LIABILITIES: AMOUNTS TO BE PAID OVER A
PERIOD OF MORE THAN ONE YEAR
1. Loans from the bond issue, presenting separate loans from	60	10,233,337	5,254,197
the issue of convertible bonds (acc.161+1681-169)
2. Amounts due to credit institutions (acc. 1621+1622 +	61	642,955	6,963,896
+1624+1625+1627+1682+5191+5192+5198)
3. Advances received in order account (acc. 419)	62
4. Commercial liabilities-Suppliers (acc. 401+404+408+4641)	63	-	-
5. Trade effects payable (acc. 403+405)	64
6. Amounts due to group entities (acc.1661+1685+2691+451)	65
7. Amounts due to associated entities and jointly controlled	66
entities (acc. 1663+1686+2692+453)
8. Liabilities resulting from derivative operations (acc465)	67

9. Other liabilities including tax liabilities and other liabilities	68	1,109,052	1,004,339
relating to social security (acc.1623+1626+167+1687+2963+
+421+423+424+426+427+4281+431+437+4381+441+
+4423+4428+444+446+447+4481+455+456+457+4581+
+462+473+509 +5186+5193+5194+5195+5196+5197)
TOTAL (row. 60 la 68)	69	11,985,344	13,222,432
H. PROVISIONS
1. Provisions for Employee benefits (acc. 1517)	70
2. Other provisions (acc.1511+1512+1513+1514+1518)	71	913,179	913,179
TOTAL PROVISIONS (row. 70 + 71)	72	913,179	913,179
I. INCOME IN ADVANCE
1. Subsidies for investments (acc. 475) (row.73 + 74)	73	-	-
Amounts to resume in a period of up to one year (from acc.475)	74	-	4,961,846
Amounts to resume over a period of more than one year (from	75	-	-
acc.475)
2. Income registered in advance (acc.472) – total (row.76+77):	76	-	-
Amounts to resume in a period of up to one year (acc.472)	77
Amounts to resume over a period of more than one year	78
(acc.472)
3. Advance income related to assets received by transfer from	79	-	-
clients (acc. 478) (row. 79 + 80)
Amounts to resume in a period of up to one year (from	80
acc.478)
Amounts to resume over a period of more than one year (from	81
acc.478)

TOTAL (row. 73+76+79)		82	-	4,961,846
J. CAPITAL AND RESERVES
I. CAPITAL
1. Subscribed Capital Shed (acc. 1012)		83	30,604,867	30,604,867
2. Unsalted subscribed Capital (acc. 1011)		84
3. Subscribed Capital representing financial liabilities		85
(acc.1027)
4. The director's patrimony (acc.1015)		86 87	-	-
	5. Social capital Adjustments (acc.1028) SOLD C		-	-
SOLD D		88
6. Other equity items (acc.103) SOLD C		89
SOLD D		90	2,236,271	2,236,271
TOTAL (row.83+84+85+86+87-88+89-90)		91	28,368,596	28,368,596
II. CAPITAL PREMIUMS (acc.104)		92	1,135,150	1,135,150
III. REVALUATION RESERVES (acc.105)		93	43,881,846	43,881,846
	IV. RESERVES
1. Legal Reserves (acc. 1061)		94	873,291	873,291
2. Statutory or contractual reserves (acc. 1063)		95	-	-
3. Other Reserves (acc. 1068)		96 97	1,260,475	1,260,475
	TOTAL (row.92 at 94)		2,133,766	2,133,766
Exchange rate differences in the conversion of individual		98
annual financial statements into a currency of presentation
different from the functional currency (acc.1072)
SOLD C
SOLD D		99
	Own actions (acc. 109)		4,293	4,293
Gains related to equity instruments (acc.141)		101
Losses related to equity instruments (acc.149)		102
V. THE RETAINED EARNINGS, WITH THE	Sold C	103	-	-
EXCEPTION OF THE RETAINED EARNINGS	Sold D	104	21,527,445	12,543,386
FROM THE FIRST-TIME ADOPTION OF IAS
29 (acc. 117)
VI. RETAINED EARNINGS DERIVED FROM	Sold C	105
THE FIRST ADOPTION OF IAS 29 (acc. 118)	Sold D	106	-	-
VII. PROFIT OR LOSS AT SFAR-SITE OF	Sold C	107	8,399,459	1,328,519
REPORTING PERIOD (acc. 121)	Sold D	108	-	-
Profit allocation (acc. 129)		109	-	-
EQUITY - TOTAL		110	62,387,079	64,300,198
(row.91+92+93+97+98-99-100+101-102+103-104+105-
106+107-108-109)
Private patrimony (acc.1023)		111
Public patrimony (acc. 1026)		112
TOTAL CAPITAL (row. 110+111+112)		113	62,387,079	64,300,198

President – General Manager Ec. Burcă Sergiu

STATEMENT OF REVENUE AND EXPENDITURE on 30 SEPTEMBER 2024

Indicator name		Nr	Achieved on	Achieved on
		Row	30.09.2023	30.09.2024
1 Net turnover (row. 02+03-04+05)		01	102,983,784	81,676,733
Sold Production (acc. 701+702+703+704+705+706+708 -	6815)	02	103,070,110	81,773,145
Income from sale of goods (acc. 707 - 6815)		03	25,641	3,403
Commercial discounts granted (acc. 709)		04	111,967	99,815
Revenue from operating grants related to net turnover (acc. 7411) 2. Income from the cost of inventories of products	Sold C	05 06	- 116,404	- -
(acc. 711+712+713)	Sold D	07	-	3,687,352
		08	204,323	226,532
3. Income from the production of real estate and investment property (row.09+10)
4. Income from the production of intangible and tangible assets		09	204,323	226,532
(acc. 721+722)
5. Income from real estate investment production (acc.725)		10	-	-
6. Income from fixed assets (or disposal groups) held for sale (acc.753)		11	-	-
7. Income from the revaluation of intangible and tangible assets (acc.755)		12	-	-
8. Revenue from real estate investments (acc.756)		13	-	-
9. Income from biological assets and agricultural products (acc.757)		14	-	-
10. Income from operating grants in case of calamities and similar		15	-	-
events (acc.7412+7413+7414+7415+7416+7417+7419)
11. Other operating revenues (acc.758+751), of which:		16	206,021	540,529
- income from investment subsidies (acc.7584)		17	-	-
- earnings from purchases in advantageous conditions		18	-	-
OPERATING REVENUE – TOTAL		19	103,510,532	78,756,442
(row. 01+06-07+08+11+12+13+14+15+16)
12.a) Expenditure on raw materials and consumables		20	52,859,796	39,010,550
(acc. 601+602)
Other material expenses (acc. 603+604+606+608)		21	532,561	414,460
b) Other external costs (energy and water) (acc.605)		22	10,531,659	6,286,589
c) Expenditure on goods (acc. 607)		23	10,103	3,432
Trade discounts received (acc. 609)		24	-	-
13. Staff costs (rd. 26+27)		25	22,833,271	22,799,160
a) Salaries and allowances (acc. 641+621+642+643+644-7414)		26	22,372,549	22,339,174
b) Expenditure on insurance and social protection (acc.645+646)		27	460,722	459,986
14.a) Value adjustments on intangible assets, plant and equipment,		28	4,057,896	4,731,957
investment property and biological assets measured at cost (29+30-31)
a.1) Costs (acc. 6811+6813+6816+6817+from acc.6818)		29	4,223,965	4,462,619
a.2) Depreciation expense on assets af. rights of use of leased assets		30	291,058	269,338
(acc.685)
a.3) Income (acc. 7813+7816+from acc.7818)		31	457,127	-
b) Value adjustments for current assets (row. 33 – 34)		32 33	(139,523) 2,376,203	(933,447) 88,016
b.1) Costs (acc.654+6814+from acc.6818)		34	2,515,726	1,021,463
b.2) Income (acc. 754+7814+from acc.7818) 15. Other operating expenses (row.36 at 44)		35	4,780,666	3,514,989
		36	3,448,135	2,717,322
15.1) Expenditure on external benefits (acc.611+612+613+614+ +615+622+623+624+625+626+627+628)

15.2) Expenses with other taxes, fees and similar charges (acc.635)	37	684,138	255,888
15.3 )Expenditure on environmental protection (acc.652)	38	4,697	23,641
15.4) Expenses related to fixed assets (or disposal groups) held for sale	39	-	-
acc.653)
15.5) Expenses from revaluation of intangible and tangible assets	40	-	-
(acc.655)
15.6) Expenditure on real estate investments (acc. 656)	41	-	-
15.7) Expenditure on biological assets and agricultural products (657)	42	-	-
15.8) Expenditure on calamities and other similar events (acc.6587)	43	-	-
15.9) Other expenses (acc. 651+6581+6582+6583+6584+6585+6588)	44	643,696	518,138
16. Adjustments on provisions (row.46 – 47)	45	-	-
Costs (acc. 6812)	46	-	-
Income (acc. 7812)	47	-	-
OPERATING EXPENDITURE – TOTAL	48	95,466,429	75,827,690
(row. 20 at 23-24+25+28+32+35+45)
RESULTS FROM OPERATION:
- Profit (rd. 19- 48)	49	8,044,103	2,928,752
- Loss (rd. 48-19)	50	-	-
17. Income from shares held in subsidiaries (acc.7611)	51	-	-
18. Income from shares held in associated entities (acc.7612)	52
19. Income from shares held by associated entities and jointly	53	-	-
controlled entities (acc. 7613)
20. Income from operations with securities and other financial	54	-	-
instruments (acc.762)
21. Income from operations with derivatives (acc. 763)	55	-	-
22. Income from exchange rate fluctuations (acc.765)	56	622,766	164,330
23. Interest income (acc.766)	57	3	261
- of which, the income earned from entities in the group	58	-	-
24. Income from operating subsidies for interest due (acc.741.8)	59
25. Short-term financial investment income (acc.7614)	60
26. Other incomes (acc. 7615+764+767+768)	61	3,607	3,520
FINANCIAL INCOME - TOTAL	62	626,376	168,111
(row.51+52+53+54+55+56+57+59+60+61)
27. Value adjustments for financial assets and financial investments	63	-	-
held as current assets (row.64-65)
Expenditure (acc.686)	64	-	-
Income (acc. 786)	65	-	-
28. Expenditure on operations in securities and other financial	66	-	-
instruments (acc.661)
29. Expenditure on derivative operations (acc.662)	67	-	-
30. Interest charges (acc.666)	68	928,840	1,330,349
- of which, the income earned from entities in the group	69	-	-
31. Interest expenses related to leasing contracts (acc.6685)	70	39,962	21,626
32. Other financial expenses	71	870,412	416,369
(acc.663+664+665+667+6681+6682+6688)
FINANCIAL EXPENDITURE – TOTAL	72	1,839,214	1,768,344
(row. 63+66+67+68+70+71)
PROFIT OR FINANCIAL LOSS):
- Profit (row. 62-72)	73	-	-
- Loss(row. 72-62)	74	1,212,838	1,600,233

TOTAL INCOME (row. 19+62)	75	104,136,908	78,924,553
TOTAL EXPENSES (rd. 48+72)	76	97,305,643	77,596,034
33. GROSS PROFIT OR LOSS
- Profit (row. 75-76)	77	6,831,265	1,328,519
-Loss (row. 76-75)	78	-	-
34. Current income tax (acc. 691)	79	-	-
35. Profit tax deferred (acc. 692)	80	-	-
36. Income from deferred tax (acc. 792)	81	-	-
37. Corporate tax expense caused by uncertainties related to tax	82
treatments (acc.693)
38. Tax specific to certain activities (ct. 695)
39. Other taxes not shown in the above items (acc.698)	84	-	-
40. THE PROFIT OR LOSS OF THE REPORTING PERIOD:
- Profit (row.77-79-80+81-82-83-84)	85	6,831,265	1,328,519
- Loss (row.78+79+80-81+82+83+84); (row.79+80+82+83+84 -	86
81-77)

President – General Manager Ec. Burcă Sergiu

Chief Financial Officer Ec. Popescu Mioara Luminița

ALTUR S.A.

FINANCIAL STATEMENTS

AS AT 30 SEPTEMBER 2024

Prepared in accordance with the Order of the Ministry of Public Finance 2844/2016 for the approval of accounting regulations in accordance with International Financial Reporting Standards

Profit and loss account 3
Situation of the financial position…………………………………………………………………………………… Situation of changes in equity capital 5	4
Statement of cash flows 6
1. Information about the Company 7
2. Principles, policies and accounting methods 7
2.1 Basis of preparation of financial statements7
2.2 The main accounting policies……………………………………………………………………………………….8 3. Rationale, estimates and significant accounting assumptions	21
4. Standards issued but not yet in force……………………………………………………………………………23
5. Turnover………………………………………………………………………………………………………………23 Income from the sale of goodsi……………………………………………………………………………….23 5.1.
5.2 Revenue from services……………………… ………………………… ……………………………………	24
5.3 Rental income …………………………………………………………………………………………………24
6. Other operating income	24
Employee Benefits Expenses 7.	25
8. Other expenses	25
Expenses and financial income 9.	26
10.Tax on profit	26
11. Tangible asset	27
Intangible asset…28 12.
Financial asset 13.	29
13.1 Securities at fair value through profit and loss	29
14. Other financial asset/liabilities	29
14.1 Interest – bearing loansi	29
14.2 Leasing ……………………………………………………………………………… ……………………….34
15.Stocks	36
16.Claims	37
17.Cash and cashequivalents	38
18.Share capital and legal reserve	39
18.1 Share capital	39
18.2 Legal reserve	40
19.Investment grants	40

20.Suppliers and other current liabilities	41
21. Outcome per share ……………………………………………………………………………………………42
22.Commitments and contingencies	42
23.Objectives and policies for managing financial risks	43

Overall result situation the period from January 1 to September 30, 2024

	Achieved on 30 September 2023	Achieved on 30 September 2024
	RON	RON
Sale of goods	102,891,477	81,481,092
Service provision	204	100,721
Rental income	92,103	94,920
Turnover	102,983,784	81,676,733
Other operating revenues	410,344	767,061
Changes in stocks of finished goods and production
in progress	116,404	(3,687,352)
TOTAL OPERATING INCOME	103,510,532	78,756,442
Expediture on raw materials and consumables used	53,402,460	39,428,441
Employee Benefits Expeditures	22,833,271	22,799,160
Expenses with amortization of fixed assets	4,057,896	4,731,957
Utilities expenses	10,531,659	6,286,589
Value adjustments on current assets	(139,523)	(933,446)
Other expenses	4,780,666	3,514,989
TOTAL OPERATING CHARGES	95,466,429	75,827,690
PROFIT/(OPERATING LOSS)	8,044,103	2,928,752
Financial income	626,376	168,111
Financial costs	1,839,214	1,768,344
FINANCIAL PROFIT/(LOSS)	(1,212,838)	(1,600,233)
TOTAL REVENUE	104,136,908	78,924,553
TOTAL EXPENDITURE	97,305,643	77,596,034
GROSS PROFIT/LOSS(A)	6,831,265	1,328,519
Income tax expense	-	-
Income from profit tax deferred	-	-
PROFIT/LOSS() OF THE FINANCIAL YEAR	6,831,265	1,328,519
TOTAL GLOBAL OUTPUT FOR THE PERIOD	6,831,265	1,328,519
Basic earnings / diluted earnings per share	0.0223	0.0043

The financial statements from page 1 to page 45 were approved by the Board of Directors and were authorized to be issued on 11.11.2024.

President – General Manager Ec. Burca Sergiu

Chief Financial Officer Ec. Popescu Mioara Luminita

Situation of the financial position

As of 30 September 2024

Note	December 31 2023	September 30 2024
	RON	RON

		0
		55,907,347

		731,500
		1,845,558

		23,189,481
		23,830,228
		650,441
		2,658,689
		108,813,244


18	30,604,867	30,604,867
		30,604,867
		-
		(1,101,122)
	2,133,766	2,133,766
11	43,881,846	43,881,846
	(13,132,278)	(11,219,159)

	62,387,079	64,300,198


14	2,385,344	12,218,093
19	9,600,000	4,961,846
10	1,038,881	1,004,339
7	913,179	913,179

		12,684,731

14	16,289,477	12,730,858
10	-	-
	12 11 13.1 14.2 15 16 18	58,339,935 731,500 2,100,415 27,291,654 22,955,698 - 3,954,992 115,374,194 30,604,867 - (1,101,122) 22,760,234 20

The financial statements from page 1 to page 45 were approved by the Board of Directors and were authorized to be issued on 11.11.2024.

President – General Manager Ec. Burca Sergiu

Chief Financial Officer Ec. Popescu Mioara Luminita

Situation of changes in equity capital for the period 01 January - 30 September 2024

	Share capital	Equity premiums	Legal reserve	Other capital reserves	Revaluation reserves	Deferred result	Total equity
	RON	RON	RON	RON	RON	RON	RON
As of 1 January 2023 Profit/(loss) of the period Other comprehensive income	30,604,867	1,135,150	873,291	1,502,541	41,645,575	(22,468,006) 8,399,459 694,202	53,293,418 8,399,459 694,202
Total overall result		-				9,093,661	9,093,661
As of 31 December 2023	30,604,867	1,135,150	873,291	1,502,541	41,645,575	(13,374,345)	62,387,079

Profit/(loss) of the current period Other comprehensive income Total overall result						1,328,519 584,600 1,913,119	1,328,519 584,600 1,913,119
As of 30 September 2024	30,604,867	1,135,150	873,291	1,502,541	41,645,575	(11,461,226)	64,300,198

The financial statements from page 1 to page 45 were approved by the Board of Directors and were authorized to be issued on 11.11.2024.

President – General Manager Ec. Burca Sergiu

Chief Financial Officer Ec.Popescu Mioara Luminita

Statement of cash flows

	The year ended	The year ended
Direct method	at	at
	December 31, 2023	September 30, 2024
	RON	RON

Cash flows from activities
Receipts from customers	133,549,919	81,681,380
Payments to suppliers and employees	(112,565,125)	(71,386,193)
Interest paid	(2,345,621)	(1,330,349)
Paid corporate tax	-	-
Net treasury from exploitation activity	18,639,173	8,964,838
Cash flows from investment activities
Payments for the acquisition of share
Payments for the acquisition of tangible assets	(2,249,060)	(1,784,148)
Receipts from sales of tangible assets	9,145	94,747
Interest earned	4	261
Dividends received
Income from cedars financial investments	0	-
Expenses from financial investment cessions	-	-
Net treasury from investment activities	(2,239,911)	(1,689,140)
Cash flows from financing activities
Receipts from the share issue		-
Receipts from long-term loans	642,955	6,320,941
Payment of lease-related debts	(628,365)	(416,455)
Dividends paid	-	-
Short-term loan variance	(12,517,126)	(14,476,487)
Net treasury from financing activities	(12,502,536)	(8,572,001)
Net increase/(decrease) of treasury and treasury equivalents	3,896,726	(1,296,303)
Treasury and treasury equivalents at the beginning of the financial year	58,266	3,954,992
Treasury and treasury equivalents at the end of the financial year	3,954,992	2,658,689

The financial statements from page 1 to page 45 were approved by the Board of Directors and were authorized to be issued on 11.11.2024.

President – General Manager

Ec. Burca Sergiu Chief Financial Officer Ec. Popescu Mioara Luminita

1. Information about the Society

SC Altur S.A. is a joint stock company whose object of activity is the manufacture of castings made of aluminum alloys and pistons for motor vehicles, tractors, trucks, aluminum casting for the electrotechnical industry.

The company was founded in 1979 under the name of the Cast of Aluminum Parts and Pistons and became a joint stock company named Altur S.A. in 1991, according to Government Decision no. 116/1991.

The legal address of the Company is Str. Pitesti, no. 114, Slatina, Olt County, Romania.

2. Principles, policies and accounting

2.1 Basis of drawing up the financial statements

Declaration of conformity

The Company's financial statements were prepared in accordance with the provisions of Order no. 2844/2016 for the approval of the Accounting Regulations in accordance with the International Financial Reporting Standards applicable to companies whose securities are admitted to trading on a regulated market, with all subsequent amendments and clarifications. These provisions are in line with the provisions of the International Financial Reporting Standards adopted by the European Union, except for the provisions of IAS 21 The Effects of Changes in Foreign Exchange Rates on the Functional Currency. In order to prepare these financial statements, in accordance with the Romanian legal provisions, the functional currency of the Company is considered to be the Romanian Leu (RON).

The Company has prepared financial statements in accordance with IFRSs as of January 1, 2012, in line with accounting policies.

The financial statements at 30 September 2024 are prepared in accordance with International Financial Reporting Standards, regulated by OMFP no. 2844/2016.

These financial statements are prepared according to the principle of continuity of activity, according to the convention of the historical cost from which depreciation and impairment adjustments for fixed assets are deducted, respectively for technical installations, machines and furniture, real estate investments, except for certain items of fixed assets (land and buildings) and financial assets at fair value through profit and loss, as presented in the notes. The main accounting policies are presented below.

2.2. Main accounting policies

a) Currency conversions

The Company's financial statements are presented in RON, which is the functional currency of the Company determined in accordance with the requirements of IAS 21.

Foreign currency transactions are converted into RON using the exchange rate at the transaction date. Monetary assets and liabilities denominated in foreign currency at the end of the period are measured in RON using the exchange rate at the end of the financial year. Earnings and losses realized or unrealized are recorded in the income statement.

The RON - USD and RON - EUR exchange rates on 31 December 2023 and 30 September 2024 weret:

	31 December 2023	30 September 2024
RON – EUR	4.9746	4.9756
RON – USD	4.4958	4.4451

Exchange rate differences, either favorable or unfavorable, between the exchange rate at which the debts or liabilities denominated in foreign currency or the rate at which they were reported in the previous financial statements and the exchange rate at the end of the financial year are recorded as income or expense, as the case.

b) Recunoasterea veniturilor

Revenues include the sale of finished products, residual products and merchandise, revenue from services rendered, rental income and property income.

Revenues are recognized to the extent that economic benefits are likely to be generated and earnings can be measured reliably, regardless of when the payment is made. Revenues are measured at the fair value of the consideration received or receivable, taking into account the terms of the contractual payment and excluding taxes and charges.

The company has concluded that it acts as a trustee in all its income commitments. The recognition criteria described below must be met at the time of income recognition.

Income from the sale of goods

Revenues from the sale of finished goods, waste products and merchandise are recognized when the significant risks and benefits associated with the ownership of the goods have been transferred to the buyer, usually on the delivery of the goods. This is made net of VAT, any other sales taxes and commercial rebates.

IFRS 15 provides for a common revenue recognition model applicable to contracts with customers, regardless of the industry in which the entities operate. Based on this model, income recognition involves the following five steps:

1.Identification of the contract with a customer

2.Identification of performance obligations

3.Determination of the transaction price

4.Allocation of the transaction price to performance obligations

5.Recognise revenue when (or as) the entity meets a performance obligation.

1.Identification of the contract with a customer

A contract is an agreement between two or more parties that gives rise to enforceable (enforceable) rights and obligations.

The customer is a party that has entered into a contract with the entity to obtain goods and services resulting from the entity's ordinary activities. However, income from sales of property, plant and equipment, intangible or investment property, even if not generated by ordinary activities, shall be recognised taking into account the requirements of IFRS 15.

An entity shall account for a contract with a customer that is covered by IFRS 15 only where all of the following criteria are met:

(a)the parties to the contract have approved the contract and undertake to fulfil their obligations;

(b)the entity may identify the rights of each Party in relation to the goods or services to be transferred;

(c)the entity can identify the terms of payment for the goods or services to be transferred; d)the contract has a commercial content (ie it is expected that the risk, timing or amount of the entity's future cash flows will change as a result of the contract); and

(e)it is likely that the entity will collect the consideration to which it will be entitled in exchange for the goods or services to be transferred to the customer.

2.Identification of performance obligations

A contract may relate to one or more performance obligations. Any promise to provide a customer with the following shall constitute an obligation to perform:

a separate good or service; or

-a number of distinct and identical goods and services provided at the same pace.

A good or service shall be regarded as distinct if:

a)the customer can benefit from the good or service taken either individually or together with other resources immediately available to the customer; and

(b)the entity's promise to transfer the good or service to the customer is identifiable separately from other promises in the contract (i.e. the good or service is distinct in the context of the contract).

3.Determination of the transaction price

Revenue recognition is based on the price of transactions. This is the amount of counterperformance to which an entity expects to be entitled in exchange for the transfer of the promised goods or services to the customer, without including amounts collected on behalf of third parties (for example, some sales taxes).

Price that includes a variable part

When the price comprises a variable part, the entity shall account for:

-either the most likely value;

-or the expected value (obtained by weighting each amount with its probability).

Whichever method is chosen, this must be maintained throughout the entire contract.

Price including an important financing component

When the payment made by the client is postponed for a number of years, the price also includes an important financing component. This component must be determined and accounted for separately as financial income (not in the form of operating income) as time passes.

IFRS 15 acknowledges that when the duration of the commercial credit to customers is less than one year, the financing component shall not be accounted for separately.

4.Allocation of the transaction price to performance obligations

Where a contract comprises several performance obligations, the transaction price must be assigned between those obligations. The allocation is made in proportion to the individual (specific) selling price of each transaction. The individual (specific) selling price of a good or service is that price at which the good or service would be sold separately. Where it is not directly observable, it may be determined:

either by reference to the market price (the approach to the adjusted market valuation),

-either by adding a margin to the cost that the entity expects to bear in meeting that obligation (estimated cost approach plus a margin);

-or in a residual manner by deducting the individual (specific) selling prices of other transactions from the total transaction price.

5.Recognition of revenue

IFRS 15 specifies that an income shall be recognised when a performance obligation is satisfied or as it is performed.

For performance obligations fulfilled at a certain (specific) time, the date of accounting for income is the date on which the client obtains control of the asset.

Control is the ability to decide on the use of a good and to gain benefits from it. In practice, the date of obtaining the control in most cases, coincides with the date of delivery of the good.

For performance obligations fulfilled over time (progressively), the entity shall determine the degree of advancement of services at the end of each period and record the change in revenue for the financial year.

IFRS 15 specifies that the determination of the degree of advancement of works can be made either on the basis of outputs or inputs (imputs) of a contract.

Revenue from the provision of services

Revenues from the provision of services are recognized in the period in which they were provided and in correspondence with the execution stage (based on the estimates drawn up).

Rental income

The rental incomes coming from the lease agreements of some parts of the Company's real estate are accounted for and are included in the turnover (at the operational result) in the statement of incomes and expenses.

Dividend income

Income is recognized when the Company's right to receive payment is established, in general, when the shareholder approves the dividend.

Interest income

For interest-bearing financial assets and liabilities, interest income or expense is recorded using the effective interest method (EIR), representing the rate that accurately updates payments and future cash receipts over the expected life of the financial instrument or, where applicable, for a shorter period, to the net book value of the financial asset or financial liability. Interest income is included in the income statement on financial income.

c) Government grants

Government grants are recognized when there is reasonable assurance that the grant will be received and all relevant conditions will be met. When the grant relates to an expense item, it is recognized as income on a systematic basis, while the costs it is required to compensate are expensed. When the grant relates to an asset, it is recognized as income in equal amounts over the expected life of the asse

When the Company receives non-monetary grants, the asset and the grant are recorded in gross amounts at nominal value and are transferred to the income statement over the expected lifetime and the rate of consumption of the underlying asset in equal annual installments. When credits or similar forms of assistance are provided by the government or similar institutions at a lower interest rate than the rate applicable on the market, the effect of such favorable interest is considered to be a government grant.

d) Taxes

Current income tax

Current tax receivables and payables for the current period are measured at the amount that is expected to be recovered from or paid to tax authorities. The tax rates and tax laws used to calculate the amounts are those adopted or largely adopted at the time of reporting by the Romanian legislation.

Current income tax on items recognized directly in equity is recognized directly in equity, and not in profit or loss. The management periodically evaluates the positions presented in the tax returns regarding the situations in which the applicable tax regulations are interpreted and constitute provisions, if any. The tax rate is applied to taxable profit and is 16%. According to art. 31 paragraph (1) of the Fiscal Code: "the

annual tax losses established by the corporate income tax return, starting with 2024/amended fiscal year starting in 2024, as the case may be, are recovered from the taxable profits made, up to and including 70%, in the next 5 consecutive years.

Tax deferred

Deferred tax is presented using the variable rate method of temporary differences between the tax bases of assets and liabilities and their carrying amount for financial reporting purposes at the reporting date.

Deferred tax liabilities are recognized for all taxable temporary differences, unless:

The deferred tax liability arises from the initial recognition of goodwill or an asset or a net liability in a transaction that is not a business combination and, at the date of the transaction, does not affect either the accounting profit or the taxable profit or loss, or
Taxable temporary differences are associated with investments in subsidiaries, associates and interests in joint ventures when the parent, investor or associate is able to (a) control the timing of the temporary difference and there is a possibility that the temporary difference is not resumed in the near future.

Deferred tax assets are recognized for all deductible temporary differences, for the deferral of unused tax credits and any unused tax losses to the extent that it is probable that taxable profit will be available against which deductible temporary differences can be utilized and that unused tax credits are deferred and any unused tax losses, unless the deferred tax asset related to the deductible temporary differences arises from the initial recognition of an asset or liability in a transaction that is not a business combination and, at the date of the transaction, does not affect either the profit or loss, or the taxable profit or loss. Temporary deductible differences associated with investments in subsidiaries, associates and interests in joint ventures are recognized only when it is probable that the temporary differences will be reversed in the foreseeable / near future and there will be future taxable profit on the basis of which temporary differences may be used deductible.

The carrying amount of deferred tax assets is reviewed at each reporting date and reduced to the extent that it is unlikely that sufficient taxable profit is available to allow the benefit of a portion of the deferred tax asset or its total. Unrecognized deferred tax assets are revalued at each reporting date and recognized to the extent that it has become probable that the future taxable profit will allow the deferred tax asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to be applied for the period in which the asset is realized or the liability is settled based on the tax rates (and tax regulations) that have been adopted or largely adopted up to reporting date.

Deferred tax on recognized gains and losses is recognized outside profit and loss. Deferred tax items are recognized in relation to the underlying transaction in other comprehensive income or directly in equity.

Deferred tax assets and liabilities are offset if there is a legal entitlement to offset current tax receivables with current income tax liabilities and deferred tax relates to the same taxable entity and to the same tax authority.

Value Added Tax

Income, expenses and assets are recognized at net value with the exception of:

Where the sales tax applicable to a purchase of assets or services is not recoverable from the tax authority, in which case the sales tax is recognized as part of the cost of acquiring the asset or as part of the expenditure item, as the case may be.
Receivables and liabilities presented at a value including the sales tax.

The net amount of the sales tax recoverable from or payable to the tax authority is included as part of the receivables or payables in the statement of financial position.

e) Tangible assets

Initial assessment

Tangible assets are stated at cost less accumulated amortization and / or accumulated impairment losses, if any. This cost includes the cost of replacing the respective tangible assets at the time of replacement and the cost of borrowing for long-term construction projects if the recognition criteria are met.

When significant parts of tangible assets have to be replaced at certain intervals, the Company recognizes those parts as individual assets with a useful useful life and depreciates them accordingly. Also, when carrying out a general inspection, its cost is recognized in the carrying amount of the tangible assets as a replacement if the recognition criteria are met.

All other repair and maintenance costs are recognized in the income statement when incurred. The present value of expected costs for the asset's disposal after use is included in the cost of that asset if the criteria for recognizing a provision are met.Tangible assets are stated at cost less accumulated amortization and / or accumulated impairment losses, if any. This cost includes the cost of replacing the respective tangible assets at the time of replacement and the cost of borrowing for long-term construction projects if the recognition criteria are met.

The cost of a tangible fixed asset consists of:

(a) its purchase price, including customs duties and non-refundable purchase taxes, after deduction of trade discounts and rebates.

(b) any costs attributable directly to bringing the asset to its location and condition so that it can function as intended by the management.

(c) the initial estimate of the costs of dismantling and moving the item and rehabilitating the site where it is located, if the Company has this obligation.

Fixed assets include the cost of construction, property, and other direct expenses. They are not depreciated over time until relevant assets are completed and put into operation.

Subsequent valuation

The company has chosen as the method of subsequent valuation of land and buildings the revaluation model and the cost model for other tangible assets.

The cost model requires the presentation of tangible assets at cost less cumulative depreciation and impairment losses and the revaluation model requires that tangible assets are accounted for at a revalued

amount, ie the fair value at the revaluation date minus any subsequent accumulated depreciation and any loss

Depreciation of fixed assets

Duration of economic use is the amount of time that the asset is expected to be used by the Company. Depreciation is calculated using the straight-line method over the life of the asset. Land is not being depreciated.

Tip	Accounting life (years)
Buildings and special constructions	20 – 27
Technological installations	8 – 12
Furniture and other fixed assets	3 – 5

Lifetime and depreciation method are reviewed periodically and, if necessary, adjusted prospectively, so that there is a consistency with expectations of the economic benefits of those assets.

In situations where the carrying amount increased as a result of the revaluation, the increase is credited directly to equity as a revaluation surplus. When the carrying amount is diminished as a result of the revaluation, the decrease is recorded as an expense, to the extent that it does not diminish a previously recorded revaluation surplus.

The revaluation surplus included in equity is transferred directly to retained earnings when the surplus is realized at the date of disposal or disposal of the asset.

Derecognition

An item of property, plant and equipment is derecognised or when no future economic benefit is expected from its use or disposal. Any gain or loss resulting from the derecognition of an asset (calculated as the difference between the net disposal proceeds and the carrying amount of the item) is included in the income statement when the asset is derecognised.

f) Leasing contracts

According to IFRS 16 'Leases' accounting for a lease with the lessee implies recognising in the statement of financial position an asset (right to use the underlying asset) and a liability (liability arising under the lease contract). Also, in the statement of profit or loss and other elements of the comprehensive income, depreciation and interest expenses are recognized.

1) Initial measurement of the lease liability

At the inception of the lease, the lessee values the lease liability at the present value of the lease payments remaining to be paid. The discounting of lease payments is made using the implied interest rate of the lease, if it can be determined, or, if this cannot be determined, the lessee shall use its marginal leverage ratio.

Lease payments included in the initial measurement of lease liability include: (a)fixed payments, less any leasing incentives receivable;

(b)variable lease payments that depend on an index or rate, initially measured on the basis of the index or rate at the start date of the contract (payments linked to a consumer price index, payments linked to a benchmark interest rate, such as LIBOR, or payments that vary to reflect changes in market rent rates). (c)the expected amounts due by the lessee on the basis of guarantees relating to the residual value; (d)the strike price of a purchase option, if the lessee has reasonable certainty that he will exercise the option; (e)payments of penalties for terminating the lease, if the lease term reflects the lessee's exercise of an option to terminate the lease.

If the lessee is unable to determine the implied interest rate of the lease, its marginal indebtedness (loan) rate shall be used.

This represents the interest rate that the lessee would have to pay to borrow, for a similar period and with a similar guarantee, the funds necessary to obtain an asset of an amount similar to that of the right-ofuse asset in a similar economic environment.

2) Initial assessment of the right to use the asset

At the lessee, initially, the value of the right to use the asset includes: -the initial amount of the lease liability;

leasing payments made on the date of commencement of the contract or before that date (advances paid related to leasing contracts);
any direct costs incurred by the lessee;
the costs that are estimated to be borne by the lessee for the dismantling of the underlying asset, for the restoration of the location where it is located and to bring the underlying asset to the state required by the conditions stipulated in the contract (evaluated and accounted for in accordance with IAS 37).

Initial direct costs include those costs that would not have been incurred by the lessee if the lease had not been concluded. In their category are included: commissions, legal fees, costs with possible guarantees, payments made to the tenant who owned the asset, etc. Not included in these costs: general costs and bid costs for potential leases.

3)Subsequent assessment of the debt related to the leasing contract

After initial recognition, the liability related to the leasing contract is valued at the amortised cost by using the effective interest method. Subsequent changes to the lease payments involve a revaluation of the lease liability. The revaluation of the lease liability shall be carried out using:

a)the same discount rate, where:

it is estimated that the amount paid according to the guaranteed residual value is modified;
payments are modified due to changes in indices or rates;

b) a modified discount rate, when:

the payments related to the leasing contract are modified due to the modification of the interest rate (when they have as a reference an interest rate, for example LIBOR);
the duration of the leasing contract changes;

-when the option to buy the underlying asset is changed.

4)Subsequent assessment of the right to use the asset

After initial recognition, the right to use the asset, in general, is assessed at a cost reduced by accumulated depreciation and impairments.

The lessee adjusts the carrying amount of the asset's right of use for revaluations of the lease liability, unless the carrying amount has been reduced to zero.

However, the lessee may use valuation alternatives at the amortised cost in the following two situations:

-if the right to use the asset meets the criteria of an investment property, the lessee applies for its use an accounting policy identical to that used for the other investment property (which may be the fair value); or - if the lessee uses the revaluation model for a particular class of fixed assets, he may apply that model to all rights of use for assets belonging to the same class.

Depreciation of the right to use the asset is effected in accordance with IAS 16. Thus, the depreciation method should reflect the rate of consumption of the future economic benefits generated by the right to use the asset. Most of the time, this leads to the use of the linear depreciation method.

Depreciation is calculated from the date of commencement of the lease, and the period during which depreciation is determined is determined is determined as follows:

if the ownership of the underlying asset is transferred to the lessee at the end of the lease or if he has reasonable certainty that he will exercise his option to purchase it, the depreciation of the right of use is identical to the economic life of the asset; otherwise:
the depreciation period of the right to use is equal to the lease term.

In order to see whether a right to use an asset is impaired, as well as for accounting for impairment, the lessee shall consider the requirements of IAS 36. After recognising an impairment, depreciation is determined on the basis of the carrying amount resulting from depreciation.

The determination of the extent to which an arrangement is or contains a leasing contract is based on the economic background of the commitment at the date of its commencement. The arrangement is assessed to determine whether the fulfilment of the arrangement depends on the use of a particular asset or assets or whether the arrangement confers the right to use the asset or assets, even if that right is not explicitly mentioned in the arrangement.

g) The costs of indebtedness

Liability costs that are directly attributable to the acquisition, construction or production of an asset that necessarily involve a substantial period of time to be ready for its intended use or sale are capitalized as part of the cost of that asset. All other costs of indebtedness are expensed in the period in which they occur. Debt costs are the interest and other costs borne by the Company for the borrowing of funds. The company did not have any debt costs directly attributable to the acquisition, construction or production of an asset in 2021 and by the end of 2022

h) Real estate investments

Real estate investments are initially valued at cost, including transaction costs. After the initial recognition, the real estate investments are presented at the historical cost from which the depreciation and any impairment adjustments are deducted if a decrease in the net realisable value for the respective assets is found.

Real estate investments must be derecognized at the time of disposal or when the real estate investment is permanently withdrawn from use and no future economic benefits are forecasted from the disposal. The difference between the net proceeds of disposal and the carrying amount of the asset is recognized in the income statement in the period in which it is derecognised.

Transfers to and from the real estate category are made only if there is a change in use. For the transfer of a real estate investment into the category of real estate used by the owner, the presumed property cost is its fair value as of the date of use change. If a real estate used by the owner becomes a real estate investment, the Company accounts for it in accordance with the policy on property, plant and equipment until the date of use change.

i) Intangible assets

Separately acquired intangible assets are valued at initial recognition at cost. After initial recognition, intangible assets are carried at cost less any cumulative depreciation and any accumulated impairment losses, if any. Intangible assets generated internally, excluding capitalized development costs, are not capitalized and expense is reflected in the income statement when the expense is incurred.

The useful lives of intangible assets are determined to be determined or undetermined.

Intangible fixed assets with a useful useful life are depreciated over the economic life and valued for impairment whenever there are indications of impairment of the intangible asset. The depreciation period and the amortization method for an intangible asset with a determined useful life are reviewed at least at the end of each reporting period. Changes in expected useful lives or expected consumption of future economic benefits embodied in assets are accounted for by changes in the method or the depreciation period as appropriate and are treated as changes in accounting estimates.

Earnings or losses arising from the derecognition of an intangible asset are calculated as the difference between the net disposal proceeds and the carrying amount of the item and are recognized in the income statement when the asset is derecognised.

The intangible assets of the Company are mainly represented by software and licenses. Software programs are amortized linearly for a maximum of 3 years, and licenses are amortized over their lifetime (generally 3 years). Expenditures on the current maintenance of IT systems are recognized as expenses of the period.

j) Financial instruments – initial recognition and subsequent evaluatio

Initial Recognition and Evaluation

Financial assets under IAS 39 are classified as financial assets at fair value through profit or loss, loans and receivables, held-to-maturity investments, available-for-sale financial assets, or derivatives designated as hedging instruments within a effective risk coatings, as appropriate.

Financial liabilities that fall under IAS 39 are classified as financial liabilities at fair value through profit or loss, loans or derivatives designated as hedging instruments under effective risk hedging, as appropriate.

The Company determines the classification of financial assets and liabilities at initial recognition.

All financial assets and liabilities are initially recorded at fair value and, except for financial assets and liabilities at fair value through profit or loss plus / net of costs directly attributable to the transaction.

Purchases or sales of financial assets that require asset delivery in a period provided by a regulation or convention on the market (standard transactions) are recognized at the date of the transaction, ie the date on which the Company commits to purchase or sell the asset

Subsequent measurement

The subsequent measurement of financial assets and liabilities depends on their classification, as described below:

Assets and financial liabilities at fair value through profit or loss

Financial assets and liabilities at fair value through profit or loss include financial assets and liabilities held for trading and financial assets designated at initial recognition at fair value through profit or loss.

Financial assets and liabilities are classified as held for trading if they are acquired for short-term sale or disposal. Derivatives, including embedded derivatives that have been separated, are also classified as held for trading if they are not designated as effective hedging instruments under IAS 39.

Financial assets and liabilities may be designated at their initial recognition at fair value through profit or loss are designated at their initial recognition date and only if the specific criteria set out in IAS 39 are met. The Company did not designate financial assets or liabilities in the fair value profit or loss.

Loans granted and receivables

Loans and receivables are non-derivative financial assets with fixed or determinable payments that are not quoted on an active market. After initial recognition, these financial assets are subsequently measured at amortized cost using the effective interest rate method less depreciation. The amortized cost is calculated by taking into account any discount or premium on acquisition and any commissions and costs that form an integral part of the effective interest rate. Depreciation based on the effective interest rate is included in the income statement on financial income.

Provisions for impairment are established when there is evidence that the Company will not be able to collect the receivables. The Company assesses at each reporting date whether there is any objective evidence that a financial asset or group of financial assets is impaired. A financial asset or group of financial assets is considered impaired if and only if there is objective evidence of impairment as a result of one or more events that occurred after the initial recognition of the asset (a "loss event"), and whether that loss event has an impact on the estimated future cash flows of the financial asset or group of financial assets that can be estimated reliably.

Investments in long-term shares (subsidiaries, associates, or other entities)

The Company's investments in long-term shares (in subsidiaries, associates or other entities) are measured at cost less any impairment losses.

Evidence of depreciation may include indications that the debtor or a group of debtors is facing significant financial difficulties, failure to pay interest or principal, probability of bankruptcy, or other form of financial reorganization and observable data indicates that there is a a quantifiable decrease in estimated cash flows, such as payment delays or variations in economic conditions associated with non-payment.

Impairment losses are recognized in the income statement in "Other expenses". Non-recoverable receivables are expensed when they are identified.

Some of the Company's sales are settled by offsetting. Occasionally, the Company offsets receivables from customers with sales or debts for goods or services within a whole chain of companies that have debts and mutual claims. These transactions are carried out at nominal value, without recognizing a loss or profit.

Loans received interest bearing

After initial recognition, interest-bearing borrowings are subsequently measured at amortized cost using the effective interest rate method. Earnings and losses are recognized in the income statement when the liabilities are derecognised, and during the amortization process at the effective interest rate.

The amortized cost is calculated by taking into account any discount or premium on acquisition and any commissions and costs that form an integral part of the effective interest rate. Depreciation based on the effective interest rate is included in the profit and loss account in financial expenses.

Derecognition

A financial asset (or, if applicable, part of a financial asset or part of a group of similar financial assets) is derecognized when:

The rights to receive asset-generated cash flows have expired
The Company has transferred its rights to receive asset-generated cash flows or has undertaken a liability to pay all treasury cash flows without significant delays to a third party, based on a commitment with identical flows; and (a) the Company has transferred substantially all the risks and rewards of its asset; or (b) the Company has not transferred or substantially retained all the risks and rewards of the asset but transferred the control over the asset.
When the Company has transferred its rights to receive cash flows from an asset or has entered into a commitment with identical flows and has not transferred or substantially retained all the risks and rewards of the asset but has not transferred control over the asset, the asset is recognized proportionally with the continued involvement of the Company in that asset. In this case, the Company also recognizes an associated liability. Asset transferred and associated debt are measured on a basis that reflects the rights and obligations that the Company has retained
Continued involvement in the form of a guarantee on the transferred asset is measured at the lower of the initial carrying amount of the asset and the maximum amount of consideration that the Company may be required to repay.

A financial liability is derecognized when the debt liability is extinguished, canceled or expires. If a financial debt is replaced by another debt from the same creditor under substantially different conditions or if the terms of an existing debt change substantially, such exchange or change is treated as a derecognition of the original liability and a recognition of the new debt. The difference between the related accounting values is recognized in the income statement.

Compensation of financial instruments

Financial assets and financial liabilities are compensaed and the net amount reported in the statement of financial position only if there is currently a legal right to offset the recognized amounts and a settlement intention on a net basis or capitalization of assets and debt settlement in a simultaneous.

The fair value of financial instruments

The fair value of financial instruments that are traded on active markets at each reporting date is determined by reference to quoted market prices or to the price the dealer determines (for a long term, the price is bidding, and the short term is the price required) without any deduction for transaction costs. In order to estimate the fair value of financial instruments that are not traded on active markets, appropriate valuation models are used.

k) Inventory

Material inventories are recorded at acquisition cost that includes all acquisition costs and other costs to bring inventory to shape and location. On exit from inventory, inventories are valued and recorded in the FIFO accounting ("first in - first out", "first entered - first out").

The cost of finished products, unfinished production includes raw materials, direct wage costs, other direct and indirect production costs, but excludes interest, sale and distribution costs. Provisions are made for slow-moving, physically and morally exploited materials.

l) Impairment of non-financial assets

The Company assesses at each reporting date whether there are any impairment indices of an asset. If there are clues or if an annual test is required to depreciate an asset, the Company estimates the recoverable amount of that asset. The recoverable amount of an asset is the largest of the fair value of an asset or a cash-generating unit less costs associated with sale and its value in use. This is determined for an individual asset, unless the asset does not generate cash inflows that are largely independent of those of other assets or asset groups. When the carrying amount of an asset or a cash-generating unit is greater than its recoverable amount, the asset is considered impaired and its carrying amount is lowered to its recoverable amount.

In assessing the amount of use, estimated future cash flows are updated to their present value using a pre-tax rate that reflects current market assessments of time value of money and asset specific risks. When determining the fair value minus the costs associated with the sale, recent market transactions are considered, if any. If such transactions can not be identified, an appropriate valuation model is used. These calculations are corroborated by valuation multiples, quoted share prices for listed subsidiaries or other available fair value indicators.

Loss from impairment of continuing activities, including impairment of inventories, is recognized in the income statement except for land or buildings that have been revalued previously and the revaluation has been accounted for in other comprehensive income. In this case, impairment is also recognized in other comprehensive income to the amount of any prior revaluation.

At the end of each reporting period, an assessment is made to determine whether there are any indicators that previously recognized impairment losses are no longer available or have decreased. If such an indication exists, the Company estimates the recoverable amount of the asset or cash-generating unit. An impairment loss previously recognized is reversed only if there has been a change in the assumptions used to determine the recoverable amount of the asset. The reversal is limited so that the carrying amount of the asset does not exceed its recoverable amount and does not exceed the carrying amount of the asset if it had not previously been impaired. Such a reversal is recognized in the income statement unless the asset has been revalued, in which case the reversal is treated as a revaluation increase.

m) Cash and cash equivalents

Cash and cash equivalents include house cash, current accounts and bank deposits with a maturity of less than one year. Foreign currency deposits are revalued at the exchange rate at the end of the reporting period. Account discovery is deducted from the balance of cash flow cash balances.

n) Distribuirea dividendelor

The Company recognizes a liability to distribute dividends to shareholders when the distribution is authorized and is no longer at the discretion of the Company

o) Provisions

Provisions are recognized when the Company has a current (legal or implicit) obligation arising from a previous event, it is probable that an outflow of resources embodying economic benefits is required to settle the obligation and the amount of the liability can be estimated reliably. The expense related to any provision is presented in the income statement.

Provisions are reviewed at the end of each reporting period and adjusted to reflect the best current estimate of management in this regard. If an outflow of resources is no longer likely to be extinguished for an obligation, the provision should be canceled by resuming income.

In the event of occurrence of events that generate risks, the Company recognizes a provision for the full amount known at that time.

Contingent liabilities are not recorded in the financial statements. These are only presented, unless the probability of resource outflows representing economic benefits is reduced. A contingent asset is not recorded in the financial statements but is presented when an economic benefit is probable.

As of December 31, 2023, the company has registered provisions for holidays not taken by employees in the amount of 913,179 lei. As of September 30, 2024 they were in the amount of 913,179 lei.

p) Pensions and other long-term employee benefits

Both the Company and its employees are legally obliged to make certain contributions (included in social security contributions) to the National Pension Fund, administered by the National Pensions and Other Social Insurance Rights (plan based on the "pay-as-you-go" ). Consequently, the Company has no legal or constructive obligation to pay additional future contributions. Its only obligation is to pay contributions when they become due. If the Company ceases to employ the members of the State Social Insurance Plan, it will have no obligation to pay the benefits earned by its own employees in previous years. Contributions of the Company to a contingent contribution plan are recorded as expenses in the year they refer to.

q) Affiliated parts

Parties are considered affiliated when one of them has the ability to significantly control / influence the other party through ownership, contractual rights, family relationships, or otherwise. Affiliated parties also include the company's principal owners, members of the management, members of the board of directors and members of their families, parties with which they jointly control other companies.

r) Reported result and legal reserve

The management of the Company does not expect to use the legal reserve in such a way that it becomes taxable (except as provided by the Fiscal Code, where the reserve constituted by the legal entities providing utilities to the companies that are being restructured, reorganized or privatized may be used to

cover the losses of value of the share package obtained as a result of the debt conversion procedure, and the amounts intended for its subsequent reconstruction are deductible in calculating the taxable profit).

The accounting profit remaining after the distribution of the legal reserve, up to 20% of the share capital, is taken over the result carried forward at the beginning of the financial year following that for which the annual financial statements are prepared, from where they are to be distributed to the other legal destinations.

The distribution of the profit is carried out accordingly in the following financial year, after the approval of the distribution in the GMS .

3. Significant accounting considerations, estimates and assumptions

The preparation of the Company's financial statements requires management to make judgments, estimates and assumptions that affect the amounts reported for income, expense, assets and liabilities and accompanying disclosures, and report contingent liabilities at the end of the reporting period. However, the existence of uncertainty about these estimates and assumptions could result in a significant future adjustment of the carrying amount of the asset or liability in the future

Reasoning

Below are the management's reasoning with potential impact on the financial statements.

Reporting segments

Taking into account the specificity of the Company's activity and the fact that there are two main production lines, the management of the Company analyzed whether the application of the provisions of IFRS 8 Operating Segments is necessary. Thus, by analyzing the provisions regarding the definition of a segment of activity:

The management analyzes the activities related to the two production lines in a global way in order to make decisions regarding the resources allocated for each production line.
The company's management analyzes the separate financial information on the production lines as a single segment of activity.

Consequently, management considers that the necessary conditions for separate reporting by operational segments are not met.

Estimations and assumptions

The main assumptions about the future and other important causes of the uncertainty of the estimates at the reporting date that present a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities in the next financial year are presented below.

- Revaluation of tangible assets

The company assesses land and buildings at fair value, and changes in the recorded value are recognized in other comprehensive income. During 2021, Altur SA contacted an authorized evaluator in order to establish the fair value of buildings and land, values that were recorded in the balance sheet of 2021

As of September 30, 2024, the Company estimated that there were no significant changes in value fairness of buildings and land against revaluation as at 31 December 2021.

- Impairment of non-financial assets

Impairment exists when the carrying amount of an asset or a cash-generating unit exceeds its recoverable amount, representing the greater of fair value less costs to sell and its value in use. The fair value minus the costs associated with the sale is determined on the basis of the available transaction data in the context of the underlying asset transactions or observable market prices minus the costs of disposing of the asset. The use value calculation is based on an updated Treasury Flow Model.

- Taxes

There is uncertainty about the interpretation of complex tax regulations, changes in tax legislation and the value and timing of future taxable profit. Considering the wide range of international business relationships and long-term character, as well as the complexity of existing contractual arrangements, the differences between actual results and assumed assumptions or future changes to these assumptions may involve future adjustments to revenue and expense for already recorded taxes .

The Romanian fiscal system undergoes a consolidation process and is in the process of harmonizing with European legislation. There may be different interpretations at the level of tax authorities in relation to tax legislation that may result in additional taxes and penalties. If state authorities find tax breaks and related regulations, they can lead to: confiscation of the amounts in question; additional tax obligations; fines and penalties. As a result, the tax penalties resulting from the violation of legal provisions can lead to a significant debt.

The company believes that it has paid all its taxes and taxes on time and in full.

- Life span for fixed assets and depreciation method

The Company estimates lifetimes for items of property, plant and equipment in accordance with the consumption / disposal rate for those assets. The Company uses the straight-line method of amortization of fixed assets.

- Depreciation value for receivables

The company estimates the impairment for the uncertain client, taking into account and analyzing the maturity and maturity of the respective receivable, as well as analyzing the credibility of each client. In this respect, the Company has established criteria for integrating clients into the "confirmed risk" or "no confirmed risk" category and records write-downs based on seniority and customer history.

4. Standards issued but not yet in force

Standards and interpretations issued but not yet in force until the date of publication of the Company's financial statements are presented below. The company intends to adopt these standards, if any, on the date they enter into force.

• IFRS 9 Financial Instruments: Classification and Valuation

IFRS 9 introduces a new approach to the classification of financial assets, determined by the entity's business model, i.e. how an entity manages its financial assets to generate cash flows, and contractual cash flows representing exclusively payments of principal and interest on the amount of principal due, eliminating the categories of classification of financial assets set out in IAS 39. The new classification comprises three main categories of financial assets:

• measured at amortised cost, if (a) the financial asset is held under a business model whose objective is to hold financial assets for the purpose of collecting contractual cash flows and (b) the contractual terms of the financial asset give rise to cash flows that are exclusively payments of principal and interest on the amount of principal due;

• measured at fair value by other comprehensive income, if (a) the financial asset is held under a business model the objective of which is achieved both by collecting contractual cash flows and by selling financial assets, and (b) the contractual terms of the financial asset give rise to cash flows that are exclusively payments of principal and interest on the amount of principal due;

• measured at fair value through profit or loss, if not measured at amortised cost or at fair value through other comprehensive income. An entity may make an irrevocable election at initial recognition of certain investments in equity instruments that would otherwise be measured at fair value through profit or loss to disclose subsequent changes in fair value in other comprehensive income. Capital instruments are always measured at fair value and the company may make an irrevocable election to present changes in fair value in other comprehensive income, provided that the instrument is not held for trading.

5. Turnover

5.1. Income from the sale of goods

	30.09.2023	30.09.2024
	RON	RON
Income from the sale of finished products	102,431,254	80,345,197
Income from the sale of residual products Income from the sale of goods	124,885 24,561	1,132,492 3,403
Other income from the sale	421,664	-
Income from the sale of goods	103,002,364	81,481,092

The company earns sales on the domestic market (in Romania), but primarily on export. The foreign market represents over 90% of the sales of goods, being the main market for selling the products made by the company. The structure of export sales is detailed as follows:

	31.12.2023	30.09.2024
	%	%
Poland	41.11	34.78
England	20.65	12.30
Germany	21.99	23.16
France	4.27	7.60
Italy	3.88	7.40
Czech Republic	0.54	0.95
Spain	0.24	0.07
Others	7.32	13.74
Total	100	100

Product structure considering their destination is as follows:

automotive industry - 96%
other industrial branches - 4%

5.2. Revenue from services

30.09.2023	30.09.2024
RON	RON
204	100,721
344	100,721

Client design work or client materials processing generates revenue that is recorded within the line of earnings executed.

5.3. Rental income

The company obtains rental income from the rent of fixed assets (commercial spaces), detailed as follows::

	30.09.2023	30.09.2024
	RON	RON
Other rental income	92,103	94,920
Total rental income	92,103	94,920

6. Other operating revenues

	30.09.2023	30.09.2024
	RON	RON
Income from asset sales and other capital operations	-	79,619
Income from investment subsidies	-	-
Income from restitution damages	-	-
Other operating revenues	206,021	460,910
Total operating income	206,021	540,529

7. Employee Benefits Expenditures

Short-term benefits to employees include pay, wages and social security contributions. These benefits are recognized as expenses when providing services. Total salary costs are presented below:

	30.09.2023	30.09.2024
	RON	RON
Expenditure on salaries	20,615,204	20,479,949
Expenses with the insurance contribution for work	460,722	459,986
Other expenditure on employees	1,757,345	1,859,225
Total salary expenses	22,833,271	22,799,160

The company carries out payments on behalf of its own employees to the social security system, health insurance and unemployment fund. The average number of employees for the period 1 January to 30 September 2024 is 420, compared with the average number of employees in the comparative period of 2023 of 515 persons. The actual number of staff on 30 September 2024 is 417 persons. The company does not operate any other retirement or retirement benefit plan and therefore has no other pension obligations. The company offers to the employees to retire according to the collective labor contract two gross salaries made by the employee in the month before retirement.

At the end of 2023, for the holidays not taken by the employees, a provision in the amount of 913,179 lei was constituted. The same balance is kept on September 30, 2024.

8. Other expenditure

	30.09.2023	30.09.2024
	RON	RON
Maintenance and repair costs	257,193	285,210
Rent costs	38,470	30,438
Insurance costs	49,558	50,568
Expenditure on the transport of goods and personnel	783,268	400,507
Travel expenses	29,336	17,659
Expenditure on banking services	181,115	122,849
Expenditures to the state budget	684,138	255,888
Expenditure on environmental protection	4,697	23,641

Expenses fines, penalties	97,511	4,183
Parts processing expenses	-	-
Expenses for managerial and legal consultancy
services	728,344	697,112
Expenses for preparing the manufacture of new parts	362,596	506,947
Communal household expenses	368,821	313,063
Parts sorting services expenses, administrative costs	974,428	649,962
Expenses for security and protection services, PSI
services	81,300	39,400
Other operating charges	139,891	117,562
Total	4,780,666	3,514,989

9. Expenses and financial income

Financial charges	30.09.2023	30.09.2024
	RON	RON
Expenditure on financial investments ceded	-	-
Expenses/(revenues) regarding the value
adjustments for the financial fixed assets	-	-
Expenses from exchange rate differences	785,065	325,621
Interest expenditure	928,840	1,330,349
Other financial charges	125,309	112,374
Total	1,839,214	1,768,344

The cours of the years 2023 and 2024, until the end of quarter III, no dividends were collected from any issuer.

10. Corporate income tax

The total expense of the year is reconciled with the accounting profit as follows:

	30.09.2023	30.09.2024
	RON	RON
Current profit tax
Current profit tax	-	-
Tax deferred:
Related to temporary differences	-	-
Profit tax expense recorded in the profit and loss account

- -

The reconciliation between the accounting profit and the current profit tax calculation is presented below:

	30.09.2023	30.09.2024
	RON	RON
Gross accounting profit/(earnings)	6,831,265	1,328,519
Tax loss from previous years ( )	(21,877,434)	(12,543,386)
Corporate income tax at statutory tax rate (16%)	-	-
Impact of permanent differences	-	-
Tax credit (sponsorship expenses)	-	-
Tax credit (legal reserve)	-	-
Current profit tax expense recorded in the profit and loss account	-	-

11. Tangible assets

Cost or fair value	Lands*	Buildings *	Equipment	Equipment and construction in progress	Advances to immobiliza tions	Total
	RON	RON	RON	RON	RON	RON
As of 31 December 2023	20,926,200	25,579,452	98,053,075	3,214,370	168,440	147,941,537
Inputs Depreciation	-	1,245,474	335,156	1,365,085	99,763 122,050	3,045,478
outputs/adjustments	-	296,391	5,018,984	-		5,437,425
Transfers** As of 30 September 2024	- 20,926,200	- 26,528,535	- 93,369,247	(1,012,134) 3,567,321	- 146,153	(1,012,134) 144,537,456

* Under the heading of entries for land and buildings, the revaluation of these fixed assets was recorded.

** The transfer is made between the management of fixed assets. Fixed assets held in the category of equipment and constructions under execution are not amortized until the following month of commissioning

		Lands	Buildings	Equipment	Equipment and construction in progress	Total
Depreciation impairment adjustments	and
La 31 decembrie 2023		-	3,055,593	85,916,936	-	88,972,529
Amortization Outputs		-	1,784,573	1,810,140	-	3,594,713
(scrapping)/transfers		-	-	4,566,198	-	4,566,198
As of 30 September 2024		-	4,840,166	83,160,878	-	88,001,044

Net book value

As of 31 December 2023	20,926,200	22,523,859	12,136,139	3,214,370	58,800,568
As of 30 September 2024	20,926,200	21,688,369	10,208,369	3,713,474	56,536,412

Leased assets

As of December 31, 2023, Altur SA had a leasing contract in progress, which is also maintained on September 30, 2024 (note 14.2).

Property, plant and equipment sold and rented

During 2024, the company recorded recoveries of tangible assets in the amount of RON 79,619, fully depreciated.

Reassessment of Fixed Assets

The latest revaluation of the buildings and land owned by the Society took place on December 31, 2021 by an independent evaluator and aimed at establishing both fair, market, building and land values. The revaluation was carried out by Ciocan I. Gheorghe, an independent accredited evaluator. The fair value of the real estate was determined on the basis of observable transactions on the market, where comparable data were available, or alternative valuation methods, International Valuation Assessment. The fair values set at the 2021 revaluation were considered relevant at 30 September 2023.

Assets encumbered by guarantees

The company has fixed assets encumbered by guarantees (detailed in Note 15.1).

Value of tangible fixed assets

Provisions for impairment of fixed assets

At December 31, 2023 and September 30, 2024, the Company did not record provisions for the impairment of constructions and equipments.

Considering the difficult economic context in Romania and internationally, the Company analyzed whether there were other internal or external indices of depreciation, but did not identify such indices that would lead to a further decrease in the value of fixed assets, in addition to diminishing of value resulting from the revaluation.

The balance of impairment adjustments for assets under construction as at September 30, 2024 is RON 629,073

12.Intangible assets

	Patents and licenses	Total
	RON	RON
Cost
As 31 December 2023	762,251	762,251
Inputs	-	-
Outputs	-	-

As 30 September 2024	762,251	762,251
Depreciation and depreciation of value
As 31 December 2023	762,251	762,251
Amortization	-	-
Outputs	-	-
As 30 September 2024	762,251	762,251
Net book value
As 31 December 2023	-	-
As 30 September 2024	-	-

13. Financial assets

The financial fixed assets of the Company are divided into:

1) Titles valued at fair value through profit and loss
2) Shares held in subsidiaries
3) Alte titluri imobilizate (contabilizate la cost)

	31.12.2023	30.09.2024
	RON	RON
Titles valued at fair value through profit and loss Shares held in subsidiaries	- -	- -
Other fixed assets (accounted for at cost)	731,500	731,500
Total investment available for sale	731,500	731,500
Total financial assets	731,500	731,500

13.1 Securities at fair value through profit or loss

As of December 31, 2023 and September 30, 2024, ALTUR SA no longer holds securities listed on the BVB

14. Other financial assets / liabilities

14.1. Interest-bearing loans

The Company has the following loans as at 30 September 2024:

I) Loans granted by Raiffeisen Bank

a) Credit for the financing of the current activity - overdraft, for the maximum amount of 12.000.000 RON, granted on 13.06.2013 has been extended until 31.05.2024. As of 31.08.2023, the credit facility will be reduced by RON 300,000 per month, remaining on 31.05.2024 at a maximum amount of RON 900,000.

The initial purpose of the credit facility (in 2013) was to repay the balance of the factoring facility contracted by Alro SA from BRD-GSG for the supply of raw materials (aluminum alloys) to SC Altur SA; the refinancing of the factoring facility contracted by SC Altur SA from Banca Transilvania SA for receivables from the commercial relationship with TRW Automotive Czech S.R.O in the Czech Republic; financing of working capital, payments of raw materials, utilities, wages, VAT and other taxes.

At present, the purpose of the credit facility is to fund working capital, pay for raw materials, utilities, wages, VAT and other taxes.

The interest rate charged by the bank for this facility is ROBOR at 1M plus margin of 1.95% per annum. At 30 september 2024, the amount of the drawn facility is 7,354,108 RON

Credits granted by Raiffeisen Bank are guaranteed by:

a) mortgage contract on real estate property of the company, located in Slatina, str. Pitesti nr.114, Olt County, consisting of:
intravilan land building category yards in the surface of 2.397,51 sqm, having nr. Cadastral 438/47, immovable property registered in CF no.55512 (no 1058 old CF) of Slatina locality;
intravilan land category yard constructions with an area of 7,095 sqm, having no. Cadastral 438-438 / 41- 438 / 45, together with the construction of C1-Store house chemical dyes, with an area of 214.88 sqm and C2-Remiza PSI, with an area of 176.53 sqm, immobilized in CF no.53375 .CF vechi 1058) of the town of Slatina;
intravilan land category of yard constructions in the surface of 39,677.91 sqm, having nr. cadastral 438- 438// 43, together with the construction C56-43 - Truck scale, with an area of 495.52 sqm, immovable property registered in CF no.53374 (no. CF 1058) of Slatina;
intravilan land category yard constructions in the surface of 16,711.30 sqm, having nr. cadastral building 438-438 / 18, together with the building C3 / 18 - Piston Casting Hall, with an area of 8,998.76 square meters, immovable property registered in CF no.52978 (no. CF 1058) of Slatina;
intravilan land category of yard constructions in the surface of 20.153 sqm, having nr. cadastral 50244 (old cadastral number 438-438 / 6-438 / 19), together with the constructions C1 Gravity casting Hall in CF no. 50244 (old 1058) of the town of Slatina;
intravilan land category yard constructions with an area of 26,274 sqm, having no. cadastral 438-438 / 24- 438 / 25, together with constructions C26 / 25 - Mechanical Processing Hall, with an area of 19,317 sqm and C25 / 25 - The gate cabin, with an area of 134 sqm, immobilized in CF no.51077 .Old CF 1058) of the town of Slatina;
the general access land within a total area of 15,540.16 sqm, with no. cadastral 438/46, filed in CF no.51102 (no. CF 1058) of Slatina locality;
intravilan land category construction yards with an area of 3,259.82 square meters, with cadastral number 438-438 / 10 438/11, together with the C34 / 11 - Canteen constructions, with a built surface of 568mp and C36 / 10 - gas regulation station, with a built-up area of 15 sqm.
b) the mortgage on the current accounts opened with Raiffeisen Bank and on the receivables of the company on the third parties that will be collected through the current accounts;
c) the mortgage on all proceeds of the commercial relationship with TRW Automotive, Cooper Standard France SAS, Continental Automotive for the strategic supplier contract dated 10.01.2013, M & G Italy, PanLink Sp.Zoo, Renault Group, Automobile Dacia SA, Robert Bosch, with the notification of the ceded debtors.
d) the mortgage on the equipment purchased from the investment loan;
e) pledge on stocks of finished products
f) pledge on stocks of raw materials

g) pledge on receivables from VAT reimbursements from ANAF.

II) Open Loans at Banca Transilvania S.A. Slatina Branch.

a) Discount credit amounting to EURO 1,020,408 granted by Banca Transilvania S.A. - Slatina Branch until 01.07.2023, intended to finance the working capital requirement.

The loan is granted with a EURIBOR interest rate of 6 months plus 3.5% indexable quarterly. On September 30, 2024, the undrawn credit of the drawn account 991,793.81 EUR, equivalent to 4,934,772 RON.

The credit granted by Banca Transilvania S.A. - The Slatina Branch and the related interest are guaranteed as follows:

mortgage contract on buildings:

intravilan land with an area of 17,581.63 sqm, together with the Die presuure asing Hall with a built surface of 10,890.26 sqm and an expedition station with a built surface of 357.18 sqm.
intravilan land general access.

The two buildings were valued at 8,831,374 RON and the value of the guarantee of the goods is 7,065,100 RON

real movable security contract on die pressure machines ,Classical Buhler type 42D and 53D, aluminum melting furnace ZPF type S-G1 5T5 and melting and storage furnace type S-G1, valued at 3.147.989 RON.
a real security collateral contract based on the present and future cash amounts that will be collected in the current accounts of the company opened at Banca Transilvania S.A. - Slatina Branch.
Contract for real security on debts arising from contracts concluded with CONTINENTAL TEVES Germany and HAGELMAYER Consult SRL - Oradea, with a guarantee value of RON 1,071,092
b) On-recourse factoring agreement concluded on 16 May 2018 with Banca Transilvania for the commercial relationship with Continental Teves - Germany, up to the maximum limit of 600,000 EURO. The deadline for firing is 28.06.2023, the duration of the contract being extended until 29.06.2025.

On 30.09.2024 the amount drawn from the factoring facility is RON 0.

III) Loans granted at Exim Banca Romaneasca S.A.

Working capital loan totalling RON 7,000,000 granted by Exim Banca Romaneasca SA. – through the Craiova Business Center on 21.12.2023, intended to finance the current activity.

The loan was granted for a period of 48 months, with a 6-month ROBOR interest rate plus 2.55% interest margin. On 30.09.2024, the granted loan was drawn in the amount of 6,963,896 lei.

Credit granted by Exim Banca Romaneasca SA. and the related interests are guaranteed as follows:

guarantee Exim Banca Romaneasca SA - in the name and account of the state - within the framework scheme of state aid in the context of the economic crisis generated by Russia's aggression against Ukraine, amounting to 6,300,000 lei, representing 90% of the loan value;
first-rate mortgage on collateral deposit worth RON 700,000;
mortgage on current accounts, present and future in lei and foreign currency;
surety agreement concluded between the bank and the majority shareholder.

IV) Loans received from shareholders

On September 30, 2024 Altur SA has borrowed the amount of 3,300,000 lei from the shareholder Andrici Adrian. The purpose of the loan was to pay the outstanding amounts, representing taxes and duties

owed to the state in order to cancel the late payment penalties according to GEO 69/2020. The loan was granted for a period of one year, subsequently the due date was extended by another year until 30.03.2025 and on the date of repayment of the borrowed amount, interest will also be paid.

The company had on December 31, 2023 contracted the following loans:

I) Credite acordate de Raiffeisen Bank

a) Credit for the financing of the current activity - overdraft, for the maximum amount of 12.000.000 RON, granted on 13.06.2013 with maturity on 31.05.2023.

At present, the purpose of the credit facility is to fund working capital, pay for raw materials, utilities, wages, VAT and other taxes.

The interest rate charged by the bank for this facility is ROBOR at 1M plus margin of 1.95% per annum.

At 31 December 2023, the amount of the drawn facility is 10,288,584 RON

Credits granted by Raiffeisen Bank are guaranteed by:

a) mortgage contract on real estate property of the company, located in Slatina, str. Pitesti nr.114, Olt County, consisting of:
intravilan land building category yards in the surface of 2.397,51 sqm, having nr. Cadastral 438/47, immovable property registered in CF no.55512 (no 1058 old CF) of Slatina locality;
intravilan land category yard constructions with an area of 7,095 sqm, having no. Cadastral 438-438 / 41- 438 / 45, together with the construction of C1-Store house chemical dyes, with an area of 214.88 sqm and C2-Remiza PSI, with an area of 176.53 sqm, immobilized in CF no.53375 .CF vechi 1058) of the town of Slatina;
intravilan land category of yard constructions in the surface of 39,677.91 sqm, having nr. cadastral 438- 438// 43, together with the construction C56-43 - Truck scale, with an area of 495.52 sqm, immovable property registered in CF no.53374 (no. CF 1058) of Slatina;
intravilan land category yard constructions in the surface of 16,711.30 sqm, having nr. cadastral building 438-438 / 18, together with the building C3 / 18 - Piston Casting Hall, with an area of 8,998.76 square meters, immovable property registered in CF no.52978 (no. CF 1058) of Slatina;
intravilan land category of yard constructions in the surface of 20.153 sqm, having nr. cadastral 50244 (old cadastral number 438-438 / 6-438 / 19), together with the constructions C1 Gravity casting Hall in CF no. 50244 (old 1058) of the town of Slatina;
intravilan land category yard constructions with an area of 26,274 sqm, having no. cadastral 438-438 / 24- 438 / 25, together with constructions C26 / 25 - Mechanical Processing Hall, with an area of 19,317 sqm and C25 / 25 - The gate cabin, with an area of 134 sqm, immobilized in CF no.51077 .Old CF 1058) of the town of Slatina;
the general access land within a total area of 15,540.16 sqm, with no. cadastral 438/46, filed in CF no.51102 (no. CF 1058) of Slatina locality;
intravilan land category construction yards with an area of 3,259.82 square meters, with cadastral number 438-438 / 10 438/11, together with the C34 / 11 - Canteen constructions, with a built surface of 568mp and C36 / 10 - gas regulation station, with a built-up area of 15 sqm.
b) the mortgage on the current accounts opened with Raiffeisen Bank and on the receivables of the company on the third parties that will be collected through the current accounts;
c) the mortgage on all proceeds of the commercial relationship with TRW Automotive, Cooper Standard France SAS, Continental Automotive for the strategic supplier contract dated 10.01.2013, M & G Italy, PanLink Sp.Zoo, Renault Group, Automobile Dacia SA, Robert Bosch, with the notification of the ceded debtors.
d) the mortgage on the equipment purchased from the investment loan;
e) pledge on stocks of finished products
f) pledge on stocks of raw materials
g) pledge on receivables from VAT reimbursements from ANAF.

II) Open Loans at Banca Transilvania S.A. Slatina Branch.

a) Overdraft loan in the total amount of EURO 1,020,408 granted by Banca Transilvania S.A. – Slatina Branch until 01.07.2023, intended to finance the necessary working capital.

The loan is granted with a ROBOR interest rate of 6 months plus 3.5% indexable quarterly. On December 31, 2023, the undrawn credit of the drawn account is 989,729.54 EURO, eqiuvalent to 4,923,508.56 RON..

The credit granted by Banca Transilvania S.A. - The Slatina Branch and the related interest are guaranteed as follows:

mortgage contract on buildings:
- intravilan land with an area of 17,581.63 sqm, together with the Die presuure asing Hall with a built surface of 10,890.26 sqm and an expedition station with a built surface of 357.18 sqm.
- intravilan land general access.

The two buildings were valued at 8,831,374 RON and the value of the guarantee of the goods is 7,065,100 RON

real movable security contract on die pressure machines ,Classical Buhler type 42D and 53D, aluminum melting furnace ZPF type S-G1 5T5 and melting and storage furnace type S-G1, valued at 3.147.989 RON.
a real security collateral contract based on the present and future cash amounts that will be collected in the current accounts of the company opened at Banca Transilvania S.A. - Slatina Branch.
Contract for real security on debts arising from contracts concluded with CONTINENTAL TEVES Germany and HAGELMAYER Consult SRL - Oradea, with a guarantee value of RON 1,071,092

b) On-recourse factoring agreement concluded on 16 May 2018 with Banca Transilvania for the commercial relationship with Continental Teves - Germany, up to the maximum limit of 600,000 EURO the deadline for firing is 28.06.2023. Contract duration is until 28.12.2023.

At 31 December 2023 the amount drawn from the factoring facility edte of 257,829.93 EUR equivalent to 1,282,600 RON.

III) Loans granted at Exim Banca Romaneasca S.A.

Working capital loan totalling RON 7,000,000 granted by Exim Banca Romaneasca SA. – through the Craiova Business Center on 21.12.2023, intended to finance the current activity.

The loan was granted for a period of 48 months, with a 6-month ROBOR interest rate plus 2.55% interest margin. On 31.12.2023, the granted loan was drawn in the amount of 642,955 lei.

Credit granted by Exim Banca Romaneasca SA. and the related interests are guaranteed as follows:

guarantee Exim Banca Romaneasca SA - in the name and account of the state - within the framework scheme of state aid in the context of the economic crisis generated by Russia's aggression against Ukraine, amounting to 6,300,000 lei, representing 90% of the loan value;
first-rate mortgage on collateral deposit worth RON 700,000;
mortgage on current accounts, present and future in lei and foreign currency;
surety agreement concluded between the bank and the majority shareholder.

IV) Loans received from shareholders

On December 31, 2023 Altur SA has borrowed the amount of 6,761,007 lei from the shareholder Andrici Adrian. The borrowed amount was granted under three contracts, of which, the first in the amount of 3,461,007 lei granted on 30.03.2021 in order to pay the outstanding amounts, representing fees and taxes due to the state budget, benefiting also from the provisions of GEO no. 69/2020, respectively the cancellation of interest and late payment penalties following the payment of the principal debt. The loan was extended for a period of one year, after which the maturity was extended by another year, until 30.03.2023, and yes, the date of repayment of the borrowed amount will be paid and the related interest (7% / year). The second loan in the amount of 1.5 million lei and the third loan in the amount 1.8 million lei were contracted during the first quarter of 2022, for a period of one year, with an interest rate of 7% - being used to pay debts to suppliers of raw materials and utilities.

14.2 Leasing

On December 31, 2023 and September 30, 2024, Altur SA had an ongoing leasing contract, respectively a contract concluded with DMG Mori Finance from Germany for financing the acquisition of a K830 die casting cell.

The total value of the leasing contract is EUR 730,000, of which an advance of EUR 146,000 and the remaining EUR 584,000 is paid in 60 monthly installments (5 years). The value of the lease installments, for this contract, outstanding on September 30, 2024 is EUR 91,946.53 and RON 457,489.16, respectively.

See below the instalments remaining payable for the lease:

DMG MORI FINANCE contract for the machine DIE-CAST CELL K 830-71

			Analysis /	EUR		RESIDUAL
		FINANCED	administra	INTEREST		VALAORE	PRINCIPAL
	DUE DATE	VALUE	tion fee	RATE	MAIN EUR	-EUR -	UNPAID RON
RATE
		730,000.00					1 EUR at 30.09.2024 = 4.9756
0	ADVANCE	146,000.00
1	01/12/2019	584,000.00	9,763.72	2,153.39	7,610.33	576,389.67
2	01/01/2020	576,389.67	9,763.72	2,124.85	7,638.87	568,750.80
3	01/02/2020	568,750.80	9,763.72	2,096.20	7,667.52	561,083.28
4	01/03/2020	561,083.28	9,763.72	2,067.45	7,696.27	553,387.01
5	01/04/2020	553,387.01	9,763.72	2,038.59	7,725.13	545,661.88
6	01/05/2020	545,661.88	9,763.72	2,009.62	7,754.10	537,907.78
7	01/06/2020	537,907.78	9,763.72	1,980.54	7,783.18	530,124.60

8	01/07/2020	530,124.60	9,763.72	1,951.35	7,812.37	522,312.23
9	01/08/2020	522,312.23	9,763.72	1,922.06	7,841.66	514,470.57
10	01/09/2020	514,470.57	9,763.72	1,892.65	7,871.07	506,599.50
11	01/10/2020	506,599.50	9,763.72	1,863.13	7,900.58	498,698.92
12	01/11/2020	498,698.92	9,763.72	1,833.51	7,930.21	490,768.71
13	01/12/2020	490,768.71	9,763.72	1,803.77	7,959.95	482,808.76
14	01/01/2021	482,808.76	9,763.72	1,773.92	7,989.80	474,818.96
15	01/02/2021	474,818.96	9,763.72	1,743.96	8,019.76	466,799.20
16	01/03/2021	466,799.20	9,763.72	1,713.88	8,049.84	458,749.36
17	01/04/2021	458,749.36	9,763.72	1,683.70	8,080.02	450,669.34
18	01/05/2021	450,669.34	9,763.72	1,653.40	8,110.32	442,559.02
19	01/06/2021	442,559.02	9,763.72	1,622.98	8,140.74	434,418.28
20	01/07/2021	434,418.28	9,763.72	1,592.45	8,171.26	426,247.02
21	01/08/2021	426,247.02	9,763.72	1,561.81	8,201.91	418,045.11
22	01/09/2021	418,045.11	9,763.72	1,531.06	8,232.66	409,812.45
23	01/10/2021	409,812.45	9,763.72	1,500.18	8,263.54	401,548.91
24	01/11/2021	401,548.91	9,763.72	1,469.19	8,294.52	393,254.39
25	01/12/2021	393,254.39	9,763.72	1,438.09	8,325.63	384,928.76
26	01/01/2022	384,928.76	9,763.72	1,406.87	8,356.85	376,571.91
27	01/02/2022	376,571.91	9,763.72	1,375.53	8,388.19	368,183.72
28	01/03/2022	368,183.72	9,763.72	1,344.07	8,419.64	359,764.08
29	01/04/2022	359,764.08	9,763.72	1,312.50	8,451.22	351,312.86
30	01/05/2022	351,312.86	9,763.72	1,280.81	8,482.91	342,829.95
31	01/06/2022	342,829.95	9,763.72	1,249.00	8,514.72	334,315.23
32	01/07/2022	334,315.23	9,763.72	1,217.07	8,546.65	325,768.58
33	01/08/2022	325,768.58	9,763.72	1,185.02	8,578.70	317,189.88
34	01/09/2022	317,189.88	9,763.72	1,152.85	8,610.87	308,579.01
35	01/10/2022	308,579.01	9,763.72	1,120.56	8,643.16	299,935.85
36	01/11/2022	299,935.85	9,763.72	1,088.15	8,675.57	291,260.28
37	01/12/2022	291,260.28	9,763.72	1,055.61	8,708.11	282,552.17
38	01/01/2023	282,552.17	9,763.72	1,022.96	8,740.76	273,811.41
39	01/02/2023	273,811.41	9,763.72	990.18	8,773.54	265,037.87
40	01/03/2023	265,037.87	9,763.72	957.28	8,806.44	256,231.43
41	01/04/2023	256,231.43	9,763.72	924.25	8,839.47	247,391.96
42	01/05/2023	247,391.96	9,763.72	891.11	8,872.61	238,519.35
43	01/06/2023	238,519.35	9,763.72	857.83	8,905.89	229,613.46
44	01/07/2023	229,613.46	9,763.72	824.44	8,939.28	220,674.18
45	01/08/2023	220,674.18	9,763.72	790.91	8,972.80	211,701.38
46	01/09/2023	211,701.38	9,763.72	757.27	9,006.45	202,694.93

47	01/10/2023	202,694.93	9,763.72	723.49	9,040.23	193,654.70
48	01/11/2023	193,654.70	9,763.72	689.59	9,074.13	184,580.57
49	01/12/2023	184,580.57	9,763.72	655.56	9,108.16	175,472.41
50	01/01/2024	175,472.41	9,763.72	621.41	9,142.31	166,330.10
51	01/02/2024	166,330.10	9,763.72	587.12	9,176.60	157,153.50
52	01/03/2024	157,153.50	9,763.72	552.71	9,211.01	147,942.49
53	01/04/2024	147,942.49	9,763.72	518.17	9,245.55	138,696.94
54	01/05/2024	138,696.94	9,763.72	483.50	9,280.22	129,416.72
55	01/06/2024	129,416.72	9,763.72	448.70	9,315.02	120,101.70
56	01/07/2024	120,101.70	9,763.72	413.77	9,349.95	110,751.75
57	01/08/2024	110,751.75	9,763.72	378.71	9,385.01	101,366.74
58	01/09/2024	101,366.74	9,763.72	343.51	9,420.21	91,946.53
59	01/10/2024	91,946.53	9,763.72	308.19	9,455.53	82,491.00	47,046.94
60	01/11/2024	82,491.00	9,763.72	272.72	9,491.00	73,000.00	47,223.42
RESIDUAL VALAORE
		73,000.00			73,000.00	0.00	363,218.80
							457,489.15

585,823.20 74,823.15 584,000.00

Under IFRS 16 'Leases' the accounting of a lease with the lessee implies recognition in the statement of financial position of an asset (right to use the underlying asset) and a liability (liabilities arising from the lease).

The rights of use of the leasing goods are depreciated linearly during the period of use of the respective equipment for 10 years, and for cars for the duration of 6 years. The value of the rights of use at 31.12. 2023 is 2,100,415 lei and on September 30, 2024, the value of the rights of use of the leased goods is 1,845,558 lei.

Also, in the statement of profit or loss and other elements of the overall result are the expenses with the depreciation of the right of use and with the interest. By the end of the third quarter of 2024, the amorization expense related to the rights of use of the leased assets is 269,338 lei and the interest expense paid for the leasing contracts is 21,626 lei.

15. Stocks

	31.12.2023	30.09.2024
	RON	RON
Raw materials and materials	2,168,566	1,118,308
Adjustments for depreciation of raw materials	(279,960)	(279,960)
Advances for stock purchases	3,446,752	4,077,122
Fixed assets held for sale	-	-
Production under execution	3,474,762	5,274,139
Finished product	19,357,230	13,870,501
Adjustments for depreciation of finished products	(891,277)	(891,277)

Packing	15,581	20,648
Total	27,291,654	23,189,481

The company uses the FIFO method as an inventory valuation method.

Adjustments for depreciation of finished products also take into account the adjustment of the cost of finished products to net realizable value.

During 2024 there were no additional adjustments for the depreciation of raw materials, consumables and finished products, as compared to those recorded on 31.12.2023.

For products, in 2024 there were no adjustments for depreciation additional to those recorded on 31.12.2023.

During 2024, until the end of the third quarter there were no adjustments for depreciation additional to those recorded on 31.12.2023.

The company has the stocks of finished products pledged in favor of RAIFFEISEN Bank and Banca Transilvania

16. Claims

	31.12.2023	30.09.2024
	RON	RON
Commercial receivables	16,578,916	18,057,622
Claims to the state budget	5,979,452	807,742
Other claims	1,864,338	5,409,069
Depreciation of trade receivables	(1,067,700)	(46,237)
Impairment of other receivables	(399,308)	(399,308)
	22,955,698	23,828,888

Commercial receivables are not interest-bearing and are usually settled within 30-90 days. During 2023, additional adjustments were made for the impairment of trade receivables in the amount of RON 110,455 and adjustments related to receivables collected amounting to RON 4,643,785. In 2024, adjustments related to receivables collected in the amount of RON 1,021,463 were resumed. See below the statement of provisions for impairment of receivables:

	Depreciation of commercial receivables	Depreciation of other receivables	Total
	RON	RON	RON
As 31 December 2023	1,067,700	399,308	1,467,008
Increases during the exercise	-	-	-
Non-use resume sums on income	1,021,463	-	1,021,463
As 30 September 2023	46,237	399,307	445,545

Detailing claims 30 September 2024

Customers with unpaid invoices on 30.09.2024 the following structure:

2,445,288 RON internal clients
15,506,596 RON external customers
46,237 RON uncertain customers

The main external customer is ZF ACTIVE SAFETY (former T.R.W. Automotive) with uncollected invoices in the amount of 9,887,930 RON, of which:

ZF Braking System Poland 6,146,853 RON
ZF Active Safety France 1,931,710RON
ZF Automotive UK LTD 1,456,048 RON
ZF Automotive LTDA Brazil 253,572 RON
ZF Active Safety Germany 99,747 RON

For the uncertain clients, provisions in the amount of RON 46,237 were set up.

For the VAT to be recovered for the months of July,August, September 2024 in the amount of RON 769,263 it was requested at DGAMC Bucharest the compensation with the debts to the General Consolidated Budget of the state.

Detailing claims 31 Dectember 2023

Customers with unpaid invoices on 31.12.2023 the following structure:

1,427,932 RON - internal clients

14,083,284 RON external customers
1,067,700 RON uncertain customers

The main external customer is ZF ACTIVE SAFETY (former T.R.W. Automotive) with uncollected invoices in the amount of 10,348,475 RON, of which:

ZF Braking System Poland 5,819,913 RON
ZF Automotive UK LTD 4,085,863 RON
ZF Active Safety Germany 200,665 RON
ZF Automotive Czech S.R.O 242,034 RON

For the uncertain clients, provisions in the amount of RON 110,455 have been set up and adjustments related to receivables collected amounting to RON 4,643,785 were resumed on revenue..

For the VAT to be recovered for the months of November-December 2023 in the amount of 1,549,489 RON, it was requested at DGAMC Bucharest the compensation with the debts to the General Consolidated Budget of the state.

17. Cash and cash equivalents

As of December 31, 2023 and September 30, 2024, the net availabilities are as follows:

31.12.2023	30.09.2024
RON	RON

Cash and cash equivalents	(6,333,592)	(4,804,205)
Discovered bank account (note 14)	(10,288,584)	(7,354,108)
	3,954,992	2,549,903
Depozite pe termen scurt	-	-
Cash at banks	3,944,338	2,548,102
Cash at the cash desk	10,654	1,801

In order to present the cash flow statement, the Company did not take into account the bank overdraft.

Cash at banks records interest rates at varying rates according to the daily bank deposit rates. Short-term deposits are set up for variable periods between one day and three months, according to the immediate cash requirements of Altur SA, and interest on those short-term deposit rates.

Generally, at reporting dates, the Company uses overdraft facilities (working capital overdraft) employed almost entirely.

18. Share capital and legal reserve

18.1 Share capital

	Number of shares	Nominal value	Social capital	capital premium	Total
		RON	RON	RON	RON
Balance at 1 ianuarie 2024	306,048,670	0.1	30,604,867	1,135,150	31,740,017
Changes on 01.01 - 30.09.2024	-		-	-	-
Balance at 30 September 2024	306,048,670	0.1	30,604,867	1,135,150	31,740,017

At the beginning of the financial year 2023, the subscribed share capital of SC ALTUR SA was 30,604,867 RON, representing 306,048,670 shares with a nominal value of RON 0.1. The subscribed share capital paid up on 30 September 2024 is kept in the sameamount of RON 30,604,867.

The shareholding structure at 30 September 2024 is the following:

Shareholding structure as at 30 September 2023	Number
	Actions	Value RON	%
Andrici Adrian	96,143,530	9,614,353	31.4145
Mecanica Rotes SA	86,153,840	8,615,384	28.1504
Other shareholders who are natural persons	62,541,891	6,254,189	20.4353
Other shareholders legal entities	61,209,409	6,120,941	19.9999
TOTAL	306,048,670	30,604,867	100

18.2 Legal reserve

The legal reserve is created in accordance with the provisions of the Companies Law, according to which 5% of the annual accounting profit is transferred within the legal reserves until their balance reaches 20% of the Company's share capital. If this reserve is used wholly or partially to cover losses or to distribute in any form (such as the issuance of new shares under the Companies Act), it becomes taxable. The management of the Company does not expect to use the legal reserve in such a way that it becomes taxable (except as provided by the Fiscal Code, where the reserve constituted by the legal entities providing utilities to the companies that are being restructured, reorganized or privatized may be used to cover the losses of value of the share package obtained as a result of the debt conversion procedure, and the amounts intended for its subsequent reconstruction are deductible in calculating the taxable profit).).

The company established in 2022 the legal reserve, within the limit of 5% of the accounting profit, respectively the amount of 123,946 lei.

19.Subsidies for investments

Claims related to subsidies
	31.12.2023	30.09.2024
	RON	RON
On January 1st	0	4,961,846
Received in the course of the exercise /
(reduction of the cash grant)	-	-
Receiving subsidy	-	-
At the end of the reporting period	0	4,961,846

Debts relating to subsidies
	31.12.2023	30.06.2024
	RON	RON
On January 1st		4,961,846
Received during the exercise / (subsidy
reduction to be received)
Transferred to the profit and loss account	0	0
At the end of the reporting period	0	4,961,846

SC ALTUR SA signed on 22.08.2024 the financing contract no. 897/22.08.2024, regarding the financing of the investment project entitled "Ensuring energy efficiency by replacing equipment within Altur S.A" cofinanced from European funds and the state budget within the Sectoral Operational Program "Increasing Economic Competitiveness", administered by the Ministry of Energy, as coordinator of reforms and/or investments for the National Recovery and Resilience Plan (PNRR) – Component 6. Energy, pursuant to the provisions of the Government Emergency Ordinance no. 124/2021 on establishing the institutional and financial framework for the management of the European funds allocated to Romania through the Recovery and Resilience Facility, as well as for amending and supplementing the Government Emergency Ordinance

no. 155/2020 on some measures for the elaboration of the National Recovery and Resilience Plan necessary for Romania to access reimbursable and non-reimbursable external funds under the Recovery and Resilience Facility, with subsequent amendments and completions and based on the provisions of the Financing Agreement no. 2 6590/08.03.2022, concluded between the Ministry of European Investments and Projects and the Ministry of Energy, regarding the implementation of reforms and/or investments financed by PNRR, with the value total of the project of 13,411,279.27 lei, of which the maximum eligible non-reimbursable value in the amount of 4,961,846.38 lei. The eligible value of the expenses covered by the beneficiary's own contribution is RON 6,064,478.90 and the ineligible value of the expenses covered by the beneficiary's own contribution is RON 243,657.30. The maximum duration of the project is 12 months.

Below is the breakdown of subsidies after the estimated time of income recognition, long-term and shortterm:

31.12.2023	30.09.2024
RON	RON

Short term -	4,961,846
Long term -	-
Total -	4,961,846

20.Suppliers and other current liabilities

	31.12.2023	30.09.2024
	RON	RON
Commercial debt	13,499,042	6,778,175
Debts to the state budget	939,021	2,460,101
Advances received	-	-
Other debts	8,691,040	2,788,115
Personal benefits owed	670,012	658,340
	23,799,115	12,684,731

Commercial debts are not interest-bearing and are usually settled within 60 – 90 days. Other debts are not interest-bearing. Payment interest is usually settled quarterly throughout the financial year.

Debt Details on 30 September 2024

The main unpaid suppliers are as follows:

SC ALRO SA with a balance of RON 3,750,060 representing 69.08% of the total outstanding suppliers.
Premier Energy Trading SA with a balance of 210,761 RON representing 3.88% of the total unpaid suppliers
Pentarom SRL with a balance of 148,095 RON representing 2.73% of the total unpaid suppliers
Compania de Apă Olt with a balance of 114,660 RON representing 2.11% of the total unpaid suppliers

For the debts to the General Consolidated State Budget registered on 30 September 2024 in the amount of 1,455,762 lei related to July - September 2024, compensation with the VAT to be recovered was requested at DGAMC Bucharest.

Breakdown of debts as at 31 December 2023

The main outstanding suppliers are as follows:

SC ALRO SA with a balance of 8,091,678 RON representing 68.45% of the total outstanding suppliers.
SC NEEXT ENERGY PARTNERS with a balance of 912,034 RON representing 7.71% of the total unpaid suppliers

For the debts to the General Consolidated State Budget registered on 31 December 2023 in the amount of 939,021 lei related to December 2023, compensation with the VAT to be recovered was requested at DGAMC Bucharest amount of 621,957 lei.

21.Outcome per share

The basic share result is calculated by dividing the share of the company's shareholders' share in the weighted average number of ordinary shares outstanding during the year, with the exception of ordinary shares acquired by the company and held as own shares..

	31 December 2023	30 September 2024
	RON	RON
Net profit attributable to shareholders / (loss)	8,399,459	1,328,519
Average number of shares	306,048,670	306,048,670
Net profit / loss () per share	(0.027)	(0.004)

22.Commitments and contingencies

Warranties for contractual obligations

Insurances

In 2023 pana at the end of the third quarter of 2024, the Company has concluded the following insurances:

ensuring civil liability towards third parties;
Assurance for the main clients of TRW Automotive and Continental Teves

• insurance of buildings and assets from the company's patrimony - for all assets pledged to credit institutions;

• other types of insurance (especially for vehicles in the Company's car park).

Transfer price

In accordance with the relevant tax legislation, the tax assessment of a related party transaction is based on the concept of the market price of that transaction. Based on this concept, transfer prices must be adjusted to

reflect the market prices that would have been established between unrelated entities acting independently on normal market conditions basis.

It is likely that checks on transfer prices will be carried out in the future by the tax authorities to determine whether those prices comply with normal market conditions principle and that the Romanian taxpayer's tax base is not distorted.

23. Financial risk management objectives and policies

The Company's main financial liabilities are trade payables and loans from banks. The main purpose of these financial liabilities is to finance the Company's operations and to provide guarantees to support its operations.

The Company's main financial assets are trade receivables, cash and cash equivalents, bank deposits, financial investments in listed and unlisted companies (including subsidiaries).

As at 30 September 2024 and 31 December 2023, the carrying amount is estimated to be approximately equal to the fair value for all financial assets and liabilities of the Company, due to short maturity and/or interest rate changes (for variable interest) as well as due to the fact that the shares held in listed companies have been adjusted to market value at the reporting date.

The Company is mainly exposed to credit risk and liquidity risk. The Company's senior management oversees the management of these risks.

The Board of Directors reviews and approves policies for managing each of these risks, which are summarized below.

Market risk

Market risk is the risk that the fair value of an instrument's future cash flows will fluctuate due to changes in market prices. There are four types of market price risk: interest rate risk, currency risk, commodity price risk and other price risk, such as equity price risk.

Commodity price risk - aluminium

Management considers that the Company is not exposed to price risk, as the determination of the selling price to the Company's customers takes into account the purchase price of the raw material depending on the evolution of the main aluminium market, the London Metal Exchange. The sales prices in the contracts are updated periodically (mainly quarterly) according to the evolution of the LME quotation for aluminium.

Interest rate risk

Interest-driven cash flow risk is the risk of changes in interest expense and interest income due to variable interest rates. The Company has borrowings that bear interest at a variable rate, exposing the Company to cash flow risk. Details of the interest rate applied to the Company's borrowings are disclosed in Note 14.1 (borrowings from banks).

Currency risk

Currency risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in foreign exchange rates. The Company's exposure to the risk of changes in foreign exchange rates relates mainly to the Company's operating activities (where income or expenses are denominated in a currency other than the Company's functional currency).

The Company has transactions in currencies other than its functional currency (RON), mainly for sales to external customers, which are denominated in EUR.

As at 30 September 2024 and 31 December 2023, the Company's assets and liabilities denominated in a currency other than RON generated a net exposure as follows:

Monetary assets		Monetary debts
31.12.2023	30.09.2024	31.12.2023	30.09.2024
RON	RON	RON	RON

327	776	-	-
17,959,640	17,936,401	7,244,580	5,548,452

Therefore, the Company considers that, by the specific nature of its business, it reduces its net exposure to exchange rate fluctuations by having both assets and liabilities in EUR (the currency to which it has the largest exposure).

Credit risk

Credit risk is the risk that a counterparty will fail to meet its obligations under a financial instrument or customer contract, thereby resulting in a financial loss. The Company is exposed to credit risk from its operating activities (mainly for trade receivables) and from its financial activities, including deposits with banks and financial institutions, foreign exchange transactions and other financial instruments.

Trade receivables

Customer's credit risk is managed by the Company, subject to a policy established by management, whereby the risk class (rating) for each customer and related credit limits are calculated.

The balance of receivables is monitored at the end of each reporting period and any major deliveries to a customer are reviewed. Impairment indicators are analysed at each reporting date, based on the payment arrears intervals and other specific information on individually significant debtors.

The maximum exposure to credit risk at the reporting date is represented by the carrying amount of receivables as disclosed in Note 16.

Cash and cash equivalents, other financial assets

Credit risk arising from balances with banks and financial institutions is managed by the Company's treasury department in accordance with the Company's policies.

The Company's maximum exposure to credit risk for cash and cash equivalents is disclosed in Note 14. The Company limits the maximum exposure to each banking institution and has current accounts and deposits only with banks of very good standing.

Liquidity risk

The Company monitors its risk of facing a shortage of funds using a recurring liquidity planning tool. The Company carefully plans and monitors its cash flows to prevent this risk, and also has access to funding from major partner banks.

Capital management

Capital includes share capital and reserves attributable to shareholders. The primary objective of the Company's capital management is to ensure that it maintains a strong credit rating and normal capital ratios to support its business and maximise shareholder value.

The Company's policy is to generate sufficient liquidity to enable it to meet its obligations as they fall due.

President – General Manager Ec. Burcă Sergiu

Chief Financial Officer Ec. Popescu Mioara Luminița

AI Terminal

Altur S.A.

2325_10-q_2024-11-15_6b57b619-9f3b-4250-8e59-2a842b260a33.pdf

ALTUR SA

QUARTELY REPORT

2 PROFIT AND LOSS ACCOUNT

B Economic and financial indicators

President – General Manager Ec. Sergiu BURCĂ

SITUATION OF ASSETS, LIABILITIES AND EQUITY

STATEMENT OF REVENUE AND EXPENDITURE on 30 SEPTEMBER 2024

President – General Manager Ec. Burcă Sergiu

ALTUR S.A.

FINANCIAL STATEMENTS

AS AT 30 SEPTEMBER 2024

Overall result situation the period from January 1 to September 30, 2024

Situation of the financial position

Situation of changes in equity capital for the period 01 January - 30 September 2024

Statement of cash flows

1. Information about the Society

2. Principles, policies and accounting

2.1 Basis of drawing up the financial statements

Declaration of conformity

2.2. Main accounting policies

a) Currency conversions

b) Recunoasterea veniturilor

Income from the sale of goods

1.Identification of the contract with a customer

2.Identification of performance obligations

3.Determination of the transaction price

Price that includes a variable part

Price including an important financing component

4.Allocation of the transaction price to performance obligations

5.Recognition of revenue

Revenue from the provision of services

Rental income

Dividend income

Interest income

c) Government grants

d) Taxes

Current income tax

Tax deferred

Value Added Tax

e) Tangible assets

Initial assessment

Subsequent valuation

Depreciation of fixed assets

Derecognition

f) Leasing contracts

1) Initial measurement of the lease liability

2) Initial assessment of the right to use the asset

3)Subsequent assessment of the debt related to the leasing contract

4)Subsequent assessment of the right to use the asset

g) The costs of indebtedness

h) Real estate investments

i) Intangible assets

j) Financial instruments – initial recognition and subsequent evaluatio

Initial Recognition and Evaluation

Subsequent measurement

Assets and financial liabilities at fair value through profit or loss

Loans granted and receivables

Investments in long-term shares (subsidiaries, associates, or other entities)

Loans received interest bearing

Derecognition

Compensation of financial instruments

The fair value of financial instruments

k) Inventory

l) Impairment of non-financial assets

m) Cash and cash equivalents

n) Distribuirea dividendelor

o) Provisions

p) Pensions and other long-term employee benefits

q) Affiliated parts

r) Reported result and legal reserve

3. Significant accounting considerations, estimates and assumptions

Reasoning

Reporting segments

Estimations and assumptions

- Impairment of non-financial assets

- Taxes

- Life span for fixed assets and depreciation method