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Socep S.A.
Quarterly Report • Nov 15, 2024
2344_10-q_2024-11-15_555941bc-8859-44ab-b023-628e457818ad.pdf
Quarterly Report
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SOCEP S.A. QUARTERLY REPORT ON FINANCIAL STATEMENTS AS AT 09/30/2024
Summary
- SYNTHESSIS OF ECONOMIS AND FINANCIAL INDICATORS - STATEMENT OF FINANCIAL POSITION - STATEMENT OF COMPREHENSIVE INCOME - STATEMENT OF EQUITY CHANGES - CASH FLOW STATEMENT - - SPECIFIC EXPLANATORY NOTES
QUARTERLY REPORT ON FINANCIAL STATEMENTS COMPLYING TO A.S.F. REGULATION NO.5/2018 FOR THE THIRD QUARTER 2024
| Report Date ……………………………… | 11/15/2023 |
|---|---|
| Name of Shares Issuer ……………………… | SOCEP S.A. |
| Registered Office …………………………… | Constanţa, Incinta Port, Dana 34 |
| Phone/fax …………………………………… | 0374.416142 / 0241 693759 |
| Fiscal Code …………………………………. | RO 1870767 |
| Company Number in the Trade Register …… | J 13 / 643 / 1991 |
| Subscribed Share Capital ………….………… | 63,972,750.40 lei split in 639,727,504 registered dematerialized shares with a nominal value of 0.10 lei/share |
| Trading Market ……………………………… | B.V.B., Standard category, symbol SOCP |
SYNTHESIS OF ECONOMIC AND FINANCIAL INDICATORS
1. FINANCIAL AND ECONOMIC STATE
a) The main elements of the Balance Sheet and of the Profit and Loss Account, compared to the same time period of the previous year, are below listed:
| ECONOMIC INDICATORS | UNIT | 09/30/2023 | 09/30/2024 | |
|---|---|---|---|---|
| I. | TOTAL ASSETS | lei | 545,765,452 | 721,036,213 |
| 1.1. | Fixed Assets | " | 442,233,788 | 569,966,837 |
| 1.2. | Stocks | " | 1,224,233 | 1,481,032 |
| 1.3. | Receivables | " | 37,307,003 | 57,179,480 |
| 1.4. | Cash and Bank Accounts | " | 18,598,785 | 45,914,754 |
| 1.5. | Accruals and prepaid expenses | " | 728,322 | 820,788 |
| 1.6. | Short Term Investments | " | 45,673,321 | 45,673,321 |
| II. | TOTAL LIABILITIES | lei | 545,765,452 | 721,036,213 |
| 2.1. | Shareholders' Equity | " | 252,821,507 | 443,356,577 |
| 2.2. | Total Debts | " | 292,410,268 | 277,355,452 |
| 2.3. | Upfront Revenues | " | 19,780 | 8,091 |
| 2.4. | Provisions | " | 513,897 | 316,092 |
b) Profit and Loss Account
| INDICATORS | UNIT | 09/30/2023 | 09/30/2024 | |
|---|---|---|---|---|
| I. | TURNOVER | lei | 141,255,352 | 156,771,522 |
| II. | TOTAL REVENUES | " | 155,581,452 | 183,197,720 |
| III. | TOTAL EXPENSES | " | 96,448,345 | 97,223,399 |
| IV. | GROSS PROFIT | " | 59,133,107 | 85,974,321 |
c) Financial and Economic Indicators
| INDICATORS | CALCULATION | RESULTS | ||
|---|---|---|---|---|
| PROCEDURE | 09/30/2023 | 09/30/2024 | ||
| 1. | Current Ratio | Current Assets/Current Liabilities |
1.75 | 2,41 |
| 2. | Indebtedness degree | Loan Capital --------------------------- x 100 Equity Capital |
92.45% | 48,46% |
| Loan Capital --------------------------- x 100 Committed Capital |
48.04% | 32,64% | ||
| 3. | Rotation Speed of Customers' debts |
Customers' Average Balance ------------------------ x 270 Turnover |
44 | 54 |
| 4. | Rotation Speed of Fixed Assets |
Turnover/Fixed Assets | 0.32 | 0,28 |
2. BUSINESS ANALYSIS
2.1. During the reported period the harbor cargo traffic increase by 5.23% compared to same period of previous year, meaning 146 thousand tons of cargo. The benchmarking on different types of cargo is below listed:
| TYPES OF CARGO | UNIT | 09/30/2023 | 09/30/2024 | |
|---|---|---|---|---|
| I. | HARBOR CARGO TRAFFIC | thousand tons |
2,581 | 2.936 |
| 1.1. | General Cargo and Bulk |
1,495 | 1.352 | 1,495 |
| 1.2. | Containerized Cargo | 1,295 | 1.584 | 1,295 |
| II. | TOTAL NUMBER OF CONTAINERS | 76,434 | 96,845 | |
| III. | TOTAL TEU-s | 121,022 | 157,323 |
2.2. The capital expenditures carried out until 30.09.2024 mainly concerned the purchase of equipment and some IT&C devices that serve the exploitation activity..
In same respect, company is pursuing its investment policy by acquiring new equipment in order to improve productivity.
Capital expenses are to be found in the Investment Program and have been paid from company's own resources.
2.3. For the near future there are no foreseeable events, transactions or economic changes which might significantly alter operating revenues.
3. SIGNIFICANT TRANSACTIONS
In the AGM dated 07.19.2023, the shareholders of SOCEP S.A. decided to increase the share capital by the maximum amount of 34,622,275.80 lei, by issuing a maximum number of shares of 346,222,758, with a nominal value of 0.1 lei. The procedure was ongoing in the third quarter of the current year.
4. APPROVALS AND ANNEXES
Present Report has been authorized for publication by the Management Board, on 11/15/2024. The explanatory notes are part of the individual financial statements.
Annexes:
- - Statement of Financial Position at 09/30/2024
- - Statement of Comprehensive Income at 09/30/2024
- - Statement of Equity changes at 09/30/2024
- - Cash Flow statement at 09/30/2024
- - Explanatory Notes to the Financial Statements on 09/30/2024.
The Individual Financial Statements as at 09/30/2024 are drawn up in accordance with International Financial Reporting Standards adopted by European Union and O.M.F.P. No.2844/2016, as amended and subsequently supplemented.
Financial Reports are not audited.
The report for the 3rd quarter of the year 2024 is available starting with November 15, 2024, at 18.00 as follows:
- in electronic format on the company's website, under the heading "Investors relation Financial reporting BVB – Quarterly
- can be accessed at the link below.
- https://www.socep.ro/raportari
- https://bvb.ro/FinancialInstruments/Details/FinancialInstrumentsDetails.aspx?s=SOCP
General Manager Financial Manager Dorinel Cazacu Cristian-Mihai Ududec