Prefab S.A.

Annual / Quarterly Financial Statement • Feb 13, 2015

Situatii financiare individuale intocmite in conformitate cu Standardele Internationale de Raportare Financiara – pentru anul incheiat la 31.12.2014 (sumele sunt exprimate in ron, daca nu este precizat altfel)

Situatia preliminata a pozitiei financiare la 31 decembrie 2014

Denumirea indicatorilor	31.12.2014	31.12.2013
1. Active imobilizate, total din care:	230.681.211	230.026.943
1.1 Imobilizari necorporale	306.943	421.056
1.2 Imobilizari corporale	218.011.407	217.241.998
1.3 Investitii imobiliare	2.908.669	2.908.864
1.4 Active biologice	14.328	15.356
1.5 Actiuni detinute la filiale	9.439.669	9.439.669
2. Active circulante, total din care	49.885.984	51.824.383
2.1 Stocuri	15.486.782	13.947.746
2.2 Creante comerciale	34.025.637	37.334.712
2.3 Numerar si echivalente de numerar	373.565	541.925
3. Cheltuieli in avans	6.182	15.740
Total Active	280.573.377	281.867.066

Situatii financiare individuale intocmite in conformitate cu Standardele Internationale de Raportare Financiara – pentru anul incheiat la 31.12.2014 (sumele sunt exprimate in ron, daca nu este precizat altfel)

4. Capitaluri proprii	31.12.2014	31.12.2013
4.1 Capital social subscris varsat	24.266.709	24.266.709
4.2 Ajustari ale capitalului social (IAS 29)	0	0
4.3 Alte elemente de capital propriu	(761.896)	(843.216)
4.4 Prime de capital	14.305.342	14.305.342
4.5 Rezerve din reevaluare	124.289.853	125.299.143
4.6 Rezerve legale	4.193.091	4.117.908
4.7 Alte rezerve	29.621.437	28.873.108
4.8 Actiuni proprii	0	0
4.9 Rezultat reportat (117)	7.843.444	7.843.444
4.10 Rezultat reportat (118)	0	0
4.11 Profitul sau pierderea perioadei	1.199.914	803.402
4.12 Repartizarea profitului	(75.183)	(55.073)
Total capitaluri proprii	204.882.711	204.610.767
5. Subventii pentru investitii	7.562.242	10.689.735
6. Datorii pe termen lung, total din care:	17.118.386	25.483.177
1. Sume datorate institutiilor de credit si alte datorii	16.356.490	24.639.961
2. Impozit pe profit amanat	761.896	843.216

Situatii financiare individuale intocmite in conformitate cu Standardele Internationale de Raportare Financiara – pentru anul incheiat la 31.12.2014

(sumele sunt exprimate in ron, daca nu este precizat altfel)

Datorii curente, total din	51.010.038	41.083.387
care
1. Datorii comerciale si de alta natura	10.987.611	5.472.716
2. Sume datorate institutiilor de credit	39.173.159	34.842.383
3. Datorii din impozite si taxe curente	849.268	768.288
TOTAL PASIVE:	280.573.377	281.867.066

Presedinte Consiliu de Administratie, Director Economic,

Ing.Milut Petre Marian Ec. Boitan Daniela

Situatii financiare individuale intocmite in conformitate cu Standardele Internationale de Raportare Financiara – pentru anul incheiat la 31.12.2014 (sumele sunt exprimate in ron, daca nu este precizat altfel)

Contul de profit si pierdere -preliminat la 31 decembrie 2014

Denumire indicatori	31.12.2014	31.12.2013
1.1 Cifra de afaceri neta	57.223.421	68.377.338
1.2 Variatia stocurilor de produse finite si productia in curs de executie	7.614.935	6.016.737
1.3 Venituri din productia de imobilizari corporale	9.418.885	12.216.975
1.4 Alte venituri	740.103	1.079.908
1. VENITURI DIN EXPLOATARE - TOTAL	74.997.344	87.690.958
2.1 Materii prime si materiale consumabile utilizate	(30.981.301)	(38.279.148)
2.2 Alte cheltuieli externe (cu energia si apa)	(9.333.561)	(13.032.518)
2.3 Cheltuieli cu beneficiile angajatilor	(8.581.872)	(10.572.921)
2.4 Cheltuieli cu amortizarea si deprecierea	(7.823.984)	(6.961.902)
2.5 Alte cheltuieli	(14.348.141)	(11.703.853)
2. CHELTUIELI DE EXPLOATARE - TOTAL	(71.068.859)	(83.219.167)
3. PROFITUL SAU PIERDEREA DIN EXPLOATARE	3.928.485	4.471.791

Situatii financiare individuale intocmite in conformitate cu Standardele Internationale de Raportare Financiara – pentru anul incheiat la 31.12.2014

(sumele sunt exprimate in ron, daca nu este precizat altfel)

4. Venituri financiare	75.235	145.352
5. Cheltuieli financiare	(2.483.339)	(3.515.684)
6. PROFITUL SAU PIERDEREA FINANCIARA	(2.408.104)	(3.370.332)
7. Total venituri	75.072.579	87.836.310
8. Total cheltuieli	(73.552.198)	(86.734.851)
9. PROFIT BRUT	1.520.381	1.101.459
10.Impozit pe profit	(320.467)	(298.057)
11.PROFIT NET	1.199.914	803.402

Presedinte Consiliu de Administratie, Director Economic,

Ing.Milut Petre Marian Ec. Boitan Daniela

Situatii financiare individuale intocmite in conformitate cu Standardele Internationale de Raportare Financiara – pentru anul incheiat la 31.12.2014 (sumele sunt exprimate in ron, daca nu este precizat altfel)

Declaratie a Consiliului de Administratie

al S.C. PREFAB S.A.

Consiliul de Administratie al S.C. PREFAB S.A. declara prin prezenta ca isi asuma raspunderea pentru intocmirea Situatiilor Financiare preliminate intocmite la data de 31.12.2014.

Consiliul de Administratie al S.C. PREFAB S.A. confirma, in ceea ce priveste Situatiile Financiare preliminate intocmite la data de 31.12.2014 , urmatoarele :

a) Situatiile Financiare preliminate la data de 31.12.2014 sunt intocmite in conformitate cu Standardele Internationale de Raportare Financiara,asa cum au fost adoptate de Uniunea Europeana.

b) Politicile contabile utilizate la intocmirea Situatiilor Financiare preliminate intocmite la data de 31.12.2013 sunt in conformitate cu reglementarile contabile aplicabile.

b) Situatiile Financiare preliminate intocmite la data de 31.12.2014 ofera o imagine fidela a pozitiei financiare, performantei financiare si a celorlalte informatii referitoare la activitatea desfasurata.

Societatea isi desfasoara activitatea in conditii de continuitate.

Prezenta declaratie este in conformitate cu prevederile art. 30 din Legea Contabilitatii nr. 82/1991 republicata.

Presedinte Consiliu de Administratie,

Ing. Milut Petre Marian

NOTA

PRIVIND RAPORTAREA REZULTATELOR FINANCIARE PRELIMINATE LA 31/12/2014

Rezultatele prezentate sunt intocmite in conformitate cu Standardele Internationale de Contabilitate si au caracter preliminar , urmand a fi supuse auditarii financiare conform prevederilor legale..

Cifre cheie :

1. Activele circulante au scazut cu 1.938.399 lei – de la 51.824.383 lei- 31.12.2013- la 49.885.984 lei – 31.12.2014 , corelat cu scaderea cifrei de afaceri cu 11.153.917 lei – de la 68.377.338 lei -31.12.2013, la 57.223.421 lei – inregistrata la 31.12.2014 – scadere a fost determinata de diminuarea cererii in piata materialelor pentru constructii si corelarea productiei cu tendintele pietei.

2.Sumele datorate pe termen scurt au crescut cu 9.926.651 lei - de la 41.083.387 lei - 31.12.2013 la 51.010.038 lei -31.12.2014, crestere datorata contractarii unei linii de factoring pentru sustinerea poductiei de prefabricate, incasarile realizandu-se pana la 6 luni de la lucrarile executate, cat si obtinerii unor scadente avantajoase din partea furnizorilor, in conditiile in care nivelul stocurilor de produse finite este de 9.324.337 lei la 31.12.2014.

3.Sumele datorate pe termen lung institutiilor de credit au scazut cu 8.364.791 lei -de la 25.483.177 lei –31.12.2013 la 17.118.386 lei– 31.12.2014 , scadere datorata rambursarilor efectuate, aferente creditelor pentru investitii aflate in derulare .

4.Rezultatul din exploatare la 31.12.2014 este in suma de 3.928.485 lei, fata de 4.471.791 lei realizat in anul 2013, in scadere fata de aceeasi perioada a anului precedent, scadere datorata conjucturii economice actuale.

5.Rezultatul financiar la 31.12.2014 este in suma de – 2.408.104 lei (pierdere), fata de – 3.370.332 lei (pierdere) realizat in anul 2013, inregistrand o apreciere determinata in principal de scaderea gradului de indatorare al societatii.

In cursul anului 2014 nu s-au facut fuziuni sau reorganizari semnificative ale societatii si nici nu s-au instrainat active principale ale societatii.

La 31.12.2014 s-au realizat venituri totale in valoare de 75.072.579 lei , reprezentand 85.47% fata de veniturile realizate in aceeasi perioada a anului 2013, si cheltuieli totale in valoare de 73.552.198 lei , reprezentand 84.80% fata de cheltuielile realizate in anul 2013. In aceste conditii, rezultatul brut este de 1.520.381 lei in crestere fata de cel inregistrat in anul 2013 cu aproximativ 38% .

Director Economic, Ec. Boitan Daniela

Separate financial statements prepared in accordance with International Financial Reporting Standards - for the year ended on 31.12.2014

(amounts in Ron, unless otherwise noted)

Preliminary situation of financial position on December 31, 2014

Name of indicators	31.12.2014	31.12.2013
1. Fixed assets, of which:	230.681.211	230.026.943
1.1 Intangible assets	306.943	421.056
1.2 Tangible assets	218.011.407	217.241.998
1.3 Investment Property	2.908.669	2.908.864
1.4 Biological assets	14.328	15.356
1.5 Investments in subsidiaries	9.439.669	9.439.669
2. Current assets, of which:	49.885.984	51.824.383
2.1 Stocks	15.486.782	13.947.746
2.2 Trade receivables	34.025.637	37.334.712
2.3 Cash and cash equivalents	373.565	541.925
3. Expenses in advance	6.182	15.740
Total Assets	280.573.377	281.867.066

Separate financial statements prepared in accordance with International Financial Reporting Standards - for the year ended on 31.12.2014

(amounts in Ron, unless otherwise noted)

4. Own capitals	31.12.2014	31.12.2013
4.1 Subscribed and paid in share capital	24.266.709	24.266.709
4.2 Adjustment of capital (IAS 29)	0	0
4.3 Other components of own capital	(761.896)	(843.216)
4.4 Share premium	14.305.342	14.305.342
4.5 Revaluation reserves	124.289.853	125.299.143
4.6 Legal reserves	4.193.091	4.117.908
4.7 Other reserves	29.621.437	28.873.108
4.8 Own shares	0	0
4.9 Carry over result (117)	7.843.444	7.843.444
4.10 Carry over result (118)	0	0
4.11 Profit or loss of period	1.199.914	803.402
4.12 Distribution of profit	(75.183)	(55.073)
Total own capitals	204.882.711	204.610.767
5. Investment subsidies	7.562.242	10.689.735
6. Long-term liabilities, of which:	17.118.386	25.483.177
1. Amounts owed to credit institutions and other liabilities	16.356.490	24.639.961
2. Deferred income tax Impozit pe profit amanat	761.896	843.216

Separate financial statements prepared in accordance with International Financial Reporting Standards - for the year ended on 31.12.2014

(amounts in Ron, unless otherwise noted)

Current debts, of which:	51.010.038	41.083.387
1. Trade debts and other hazards	10.987.611	5.472.716
2. Amounts owed to credit institutions	39.173.159	34.842.383
3. Debts of current taxes	849.268	768.288
TOTAL LIABILITIES:	280.573.377	281.867.066

President Board of Directors, Economic Director,

Eng.Milut Petre Marian Ec. Boitan Daniela

S.C. PREFAB S.A. BUCURESTI Separate financial statements prepared in accordance with International Financial Reporting Standards - for the year ended on 31.12.2014 (amounts in Ron, unless otherwise noted)

Profit and loss account - preliminary on December 31, 2014

Name of indicators	31.12.2014	31.12.2013
1.1 Net turnover	57.223.421	68.377.338
1.2 Changes in inventories of finished goods and work in progress	7.614.935	6.016.737
1.3 Incomes from production of tangible assets	9.418.885	12.216.975
1.4 Other income	740.103	1.079.908
1. OPERATING REVENUE - TOTAL	74.997.344	87.690.958
2.1 Raw materials and consumables used	(30.981.301)	(38.279.148)
2.2 Other external expenses (for energy and water)	(9.333.561)	(13.032.518)
2.3 Employee benefits expense	(8.581.872)	(10.572.921)
2.4 Depreciation and amortization expenses	(7.823.984)	(6.961.902)
2.5 Other expenses	(14.348.141)	(11.703.853)
2. OPERATING EXPENSES - TOTAL	(71.068.859)	(83.219.167)
3. OPERATING PROFIT OR LOSS	3.928.485	4.471.791
4. Financial income	75.235	145.352
5. Financial expenses	(2.483.339)	(3.515.684)
6. FINANCIAL PROFIT OR	(2.408.104)	(3.370.332)

Separate financial statements prepared in accordance with International Financial Reporting Standards - for the year ended on 31.12.2014

(amounts in Ron, unless otherwise noted)

LOSS
7. Total income	75.072.579	87.836.310
8. Total expenses	(73.552.198)	(86.734.851)
9. GROSS PROFIT	1.520.381	1.101.459
10. Income tax	(320.467)	(298.057)
11. NET PROFIT	1.199.914	803.402

President Board of Directors, Economic Director,

Eng.Milut Petre Marian Ec. Boitan Daniela

S.C. PREFAB S.A. BUCURESTI Separate financial statements prepared in accordance with International Financial Reporting Standards - for the year ended on 31.12.2014 (amounts in Ron, unless otherwise noted)

S.C. PREFAB S.A.

Board of Directors Statement

S.C. PREFAB S.A. Board of Directors hereby declares that assumes responsibility for the preliminary financial statements made on 31.12.2014.

S.C. PREFAB S.A. Board of Directors, in respect of the preliminary financial statements made on 31.12.2014, confirm the following:

a) The preliminary financial statements made on 31.12.2014 are prepared in accordance with International Financial Reporting Standards, as adopted by the European Union.

b) The accounting policies used in preparing the preliminary financial statements made on 31.12.2014 are in accordance with applicable accounting regulations.

b) The preliminary financial statements made on 31.12.2014 provide an accurate image of the financial position, financial performance and other information related to the business.

The company operates in conditions of continuity.

This statement is in accordance with the provisions of art. 30 by Accounting Law no. 82/1991, republished.

President Board of Directors, Eng. Milut Petre Marian

NOTE

ABOUT REPORTING THE PRELIMINARY FINANCIAL RESULTS ON 31/12/2014

The results presented are drawn in accordance with International Accounting Standards and have preliminary character and will be subject to financial audit as required by law.

Key figures :

1. The current assets decreased by 1.938.399 Ron - from 51.824.383 Ron - 31.12.2013 - to 49.885.984 Ron - 31.12.2014, correlated with the decreased turnover with 11.153.917 Ron from 68.377.338 Ron - 31.12.2013, to 57.223.421 Ron - registered on 31.12.2014 - the decrease was due to lower demand in the market of building materials production and correlation with market trends.

2. The amounts due in short term increased by 9.926.651 Ron - from 41.083.387 Ron - 31.12.2013 to 51.010.038 Ron - 31.12.2014, an increase due to contract of a factoring line to support the production of prefabrication, the proceeds being made up to 6 months from the works performed, and to obtain advantageous maturities from suppliers, given that the stocks of finished goods is for 9.324.337 Ron on 31.12.2014.

3. The amounts due in long term to credit institutions decrease by 8.364.791 Ron - from 25.483.177 Ron - 31.12.2013 to 17.118.386 Ron - 31.12.2014, a decrease due to reimbursements made related to loans for investments in progress.

4. The operating result on 31.12.2014 is in amount of 3.928.485 Ron, compared to 4.471.791 Ron realized in 2013, decreasing compared to the same period of the last year, a decrease due to the current economic conjuncture.

5. The financial result on 31.12.2014 is in amount of - 2.408.104 Ron (loss), compared to - 3.370.332 Ron (loss) realized in 2013, registering an appreciation mainly determinated by decrease of company indebtedness level.

During 2014, there were not made significant mergers or reorganizations of the company and there were not alienated main assets of the company.

On 31.12.2014 there were realized total incomes in amount of 75.072.579 Ron, representing 85.47% compared to incomes realized in the same period of 2013 and total expenditure in amount of 73.552.198 Ron, representing 84.80% compared to expenditures realized in 2013. In these conditions, the gross result is 1.520.381 Ron, increasing about 38% compared to that recorded in 2013.

Economic Director,

Ec. Boitan Daniela