PRELIMINARY REPORT
Regarding the presentation of preliminary annual financial results on 31
December 2021
Preliminary report issued according to | Law no.24/2017 regarding financial instruments issuers |
and market operations in conjuction with FSA Regulation | |
no.5/2018 regarding financial instruments issuers and | |
market operations |
Report date
Company name
Social headquarter
Phone / fax number
Unique registering code
at the Trade Register Office
Order number at the Commere Register
Subscribed and paid share capital
Regulated market on which issued securities are traded
The main characterisctics of the securities issued
Audit
Report currency
11 February 2022
OIL TERMINAL SA
Constanta, no. 2 Caraiman street
0040 241 702600 / 0040 241 694833
RO 2410163
J13/512/1991
58,243,025.30 Lei
Bucharest Stock Exchange, Standard Category
582,430,253 shares with a nominal value of 0.10 lei, nominative, indivisible, with equal voting right, freely traded in Bucharest Stock Exchange under symbol OIL
Preliminary financial situations issued on 31.12.2021 are not audited
Romanian Leu (RON) - all presented amounts are in RON, if not mentioned otherwise
1
PRELIMINARY ANNUAL FINANCIAL RESULTS on 31.12.2021
Situation of preliminary financial position for the year ended on 31 December 2021
- lei - | |||||||
Year ended on | Year ended on | ||||||
Property items | 31 December | 31 December | |||||
2021 | 2020 | ||||||
(unaudited) | (audited) | ||||||
0 | 1 | 2 | |||||
ASSETS | |||||||
FIXED ASSETS | |||||||
Intangible assets | 4,765,438 | 4,548,644 | |||||
Tangible assets | 503,112,534 | 505,283,435 | |||||
Tangible assets in execution | 26,969,700 | 10,602,967 | |||||
Financial assets | 898,729 | 750,492 | |||||
Assets related to rights to use leasing assets | 4,362,001 | 4,862,180 | |||||
Total of fixed assets | 540,108,402 | 526,047,718 | |||||
CURRENT ASSETS | |||||||
Stocks | 2,037,545 | 888,960 | |||||
Clients and assimilated accounts | 22,516,113 | 19,950,329 | |||||
Other receivables | 3,141,931 | 3,264,732 | |||||
Fees and taxes to be recovered | 770,501 | 422,254 | |||||
Cash and cash equivalents | 25,732,870 | 15,197,561 | |||||
Total of current assets | 54,198,960 | 39,723,836 | |||||
TOTAL ASSETS | 594,307,362 | 565,771,554 | |||||
OWN CAPITALS AND DEBTS | |||||||
OWN CAPITALS | |||||||
Social capital | 58,243,025 | 58,243,025 | |||||
Other elements of own capitals | (8,821,595) | (7,725,317) | |||||
Reserves from reevaluation | 222,400,926 | 219,240,483 | |||||
Legal reserves | 6,050,889 | 5,636,650 | |||||
Other reserves | 178,677,182 | 176,278,264 | |||||
Surplus achieved from reevaluation reserves | 11,124,589 | 7,678,423 | |||||
Result reported without IAS 29 | 396,930 | 396,930 | |||||
Result reported arisen from accountant errors correction | (19,440,425) | (19,675,071) | |||||
Current profit | 5,752,696 | 3,705,483 | |||||
Profit distribution | (1,526,141) | (809,697) | |||||
Total of own capitals | 452,858,076 | 442,969,173 | |||||
DEBTS ON LONG TERM | |||||||
Loans on long term | 58,753,413 | 50,774,116 | |||||
Other loans and assimilated debts | 2,526,616 | 2,911,710 | |||||
Debts regarding taxation on deferred profit | 31,367,235 | 30,505,604 | |||||
Total of debts on long term | 92,647,264 | 84,191,430 | |||||
CURRENT DEBTS | |||||||
Long-term loans - current part | 5,695,413 | 6,970,413 | |||||
Commercial debts | 17,347,630 | 12,366,752 | |||||
Debts regarding fees and taxes | 7,529,709 | 7,000,678 | |||||
Other current debts | 3,866,802 | 3,376,429 | |||||
Other loans and assimilated debts | 1,749,520 | 1,850,913 | |||||
Total of current debts | 36,189,074 | 31,565,185 | |||||
TOTAL DEBTS | 128,836,338 | 115,756,615 | |||||
Provisions | 12,502,279 | 6,984,281 | |||||
Subventions for investments | 110,669 | 61,485 | |||||
TOTAL OWN CAPITALS AND DEBTS | 594,307,362 | 565,771,554 |
2
Preliminary levels on 31.12.2021 compared to those recorded 31.12.2020 are as follows :
- Total assets increased by 5%, from which: Fixed assets increased by 2.7% and Current assets increased by 36.4% as a result of exceeding the turnover by 10.8% ( 191.6 million lei achieved 2020 vs. 212.3 million lei achieved 2021).
- Own capitals increased by 2.2%, both as a result of the increase by 55.2% of preliminary profit of 2021 (5.7 million lei preliminary 2021 vs. 3.7 million lei achieved 2020), and of influences resulting from the reevaluation of tangible and intangible assets on 31.12.2021.
- Debts on long term increased by 10%, as a result of using the investment credit contracted with BCR in 2020 for the modernization of a shoretank located in South storage farm, and current debts increased by 14.6% determined, mainly, by the increase of commercial debts to service, goods and works suppliers.
We mention that, on 31.12.2021, the company had no overdue debts to state budget, social insurange budget, local budget, bank financial institutions, inverstments providers, service and goods delivery suppliers, employees, other thirs parties. - Provisions increased by 79% due to the establishment, according to legal provisions, of the following: provisions for litigations, provisions for employees benefits representing aid granted for retirements, provisions related to mandate contracts, provisions for employees participation in 2021 profit and other adjustments and impairments for value loss (stocks, receivables).
Situation of preliminary overall result for the year ended on 31 December 2021
- lei - | ||
Year ended on 31 | Year ended on 31 | |
December | December | |
2021 | 2020 | |
(unaudited) | (audited) | |
Revenues from services suplies | 210,792,724 | 190,088,210 |
Revenues from residual products sale | 1,360,398 | 1,744,005 |
Other revenues from operating | (4,109,139) | (1,073,128) |
Material expenses | (10,364,016) | (7,609,052) |
Energy and water expenses | (4,616,676) | (4,865,050) |
Employees expenses | (103,769,533) | (95,252,433) |
Services supplied by third parties expenses | (11,866,993) | (12,147,755) |
Amortization expenses | (18,357,892) | (17,826,081) |
Other operating expenses | (49,586,902) | (44,204,794) |
Result from operating | 9,481,971 | 8,853,922 |
Revenues and financial expenses (net values) | (1,666,809) | (3,508,521) |
Year gross result | 7,815,162 | 5,345,401 |
Expenses on profit taxation | 2,062,466 | 1,639,918 |
Year net result | 5,752,696 | 3,705,483 |
Other elements of overall result: | ||
Elements not being reclassified for profit and loss, from which: | 9,191,143 | 747,529 |
Earnings from leased/scrapped real estate' reevaluation | 3,446,166 | 900,262 |
Surplus from assets reevaluation | 6,606,608 | - |
Debt regarding deferred tax | (861,631) | (152,733) |
Total overall result | 14,943,839 | 4,453,012 |
Result per share (lei/share)) | 0.025657 | 0.007646 |
Diluted result per share (lei/share) | 0.025657 | 0.007646 |
Compared to 31.12.2020, preliminary gross result on 31.12.2021 increased by 46.2% and preliminary net result increased by 55.2%.
2021 preliminary economic-financial indicators compared to 2020 achieved
Indicators (thousand | Preliminary | Achieved | ▲▼ %1 | ||
lei) | 2021 | 2020 | |||
Net turnover | 212,323 | 191,556 | ▲ 110.8 | ||
Revenues from operating | 213,031 | 193,536 | ▲ 110.1 | ||
Expenses from operating | 203,549 | 184,682 | ▲ 110.2 | ||
Operating profit | 9,482 | 8,854 | ▲ 107.1 |
3
EBITDA | 32,827 | 29,457 | ▲ 111.4 |
Financial revenues | 1,068 | 329 | ▲ 324.6 |
Financial expenses | 2,735 | 3,838 | ▼ 71.3 |
Financial result | (1,667) | (3,509) | ▼ 47.5 |
Total revenues | 214,099 | 193,865 | ▲ 110.4 |
Total expenses | 206,284 | 188,520 | ▲ 109.4 |
Gross profit | 7,815 | 5,345 | ▲ 146.2 |
Net profit | 5,753 | 3,705 | ▲ 155.3 |
1 Preliminary 2021 / compared to Achieved 2020
Financial indicators on 31.12.2021 (preliminary) vs. Financial indicators on 31.12.2020 (achieved)
- Turnover increases by 10.8%
- Total revenues are higher by 10.4%
- Total expenses increase by 9.4%
- EBITDA increases by 11.4%
- Preliminary gross profit in amount of 7,815 thousand lei is higher by 46.2%
- Preliminary net profit in amount of 5,753 thousand lei is higher by 55.3%
Investment program on 31.12.2021
In 2021, the financing source budgeted in total amount of 34,062 thousand lei was achieved (34,064 thousand lei, preliminary)
Preliminary investment expenses on 31.12.2021 were achieved at the level of preliminary financing sources, from which expenses for investments in amount of 24,868 thousand lei and reimbursement of installments related to investment credits in amount of 9,202 thousand lei (higher by 32% compared to the level approved as a result of predicted reimbursement of a bank credit).
Company stock exchange indicators
Information presented regarding Oil Terminal SA' stock exchange indicators on 30.12.2021 were taken from the 2021 Monthly Bulletin communicated by Bucharest Stock Exchange.
On 20.12.2021 shares were traded at the value of 0.1705 lei/share (clearing price).
Issue information | |
Total number of shares | 582,430,253 |
Nominal value | 0.1000 |
Share capital | 58,243,025.30 |
Stock exchange indicators on 31.12.2021 | |
according to Bucharest Stock Exchange | |
Capitalization | 99,304,358.14 |
PER | 16.99 |
P/BV | 0.22 |
EPS | 0.01 |
DIVY | 1.62 |
Gross dividend (2020) | 0.002762 |
General Director,
Sorin Viorel CIUTUREANU
Financial Director,
Adriana FRANGU
4
OIL TERMINAL - Preliminary situation of the | ||||||
financial position on | ||||||
31 December 2021 | ||||||
(all amounts are expressed in lei (RON) if not | ||||||
mentioned otherwise) | ||||||
Year ended on | Year ended on | |||||
31 December | 31 December | |||||
2021 | 2020 | |||||
(unaudited) | (audited) | |||||
ASSETS | ||||||
FIXED ASSETS | ||||||
Intangible assets | 4.765.438 | 4,548,644 | ||||
Tangible assets | 503.112.534 | 505,283,435 | ||||
Tangible assets in execution | 26.969.700 | 10,602,967 | ||||
Financial assets | 898.729 | 750,492 | ||||
Assets related to the rights to use leasing assets | 4.362.001 | 4,862,180 | ||||
Total fixed assets | 540.108.402 | 526,047,718 | ||||
CURRENT ASSETS | ||||||
Stocks | 2.037.545 | 888,960 | ||||
Clients and assimilated accounts | 22.516.113 | 19,950,329 | ||||
Other receivables | 3.141.931 | 3,264,732 | ||||
Fees and taxes to be recovered | 770.501 | 422,254 | ||||
Cash and cash equivalents | 25.732.870 | 15,197,561 | ||||
Total current assets | 54.198.960 | 39,723,836 | ||||
TOTAL ASSETS | 594.307.362 | 565,771,554 | ||||
OWN CAPITALS AND DEBTS | ||||||
OWN CAPITALS | ||||||
Social capital | 58.243.025 | 58,243,025 | ||||
Other elements of own capitals | (8.821.595) | (7,725,317) | ||||
Reserves from reevaluation | 222.400.926 | 219,240,483 | ||||
Legal reserves | 6.050.889 | 5,636,650 | ||||
Other reserves | 178.677.182 | 176,278,264 | ||||
Surplus achieved from reevaluation reserves | 11.124.589 | 7,678,423 | ||||
Result reported without IAS 29 | 396.930 | 396,930 | ||||
Result reported arisen from accountant errors correction | (19.440.425) | (19,675,071) | ||||
Current profit | 5.752.696 | 3,705,483 | ||||
Profit distribution | (1.526.141) | (809,697) | ||||
Total own capitals | 452.858.076 | 442,969,173 | ||||
TOTAL DEBTS ON LONG TERM | ||||||
Loans on long term | 58.753.413 | 50,774,116 | ||||
Other loans and assimilated debts | 2.526.616 | 2,911,710 | ||||
Debts regarding taxation on postponed profit | 31.367.235 | 30,505,604 | ||||
Total debts on long term | 92.647.264 | 84,191,430 | ||||
CURRENT DEBTS | ||||||
Long-term loans - current part | 5.695.413 | 6,970,413 | ||||
Commercial debts | 17.347.630 | 12,366,752 | ||||
Debts regarding fees and taxes | 7.529.709 | 7,000,678 | ||||
Other current debts | 3.866.802 | 3,376,429 | ||||
Other loans and assimilated debts | 1.749.520 | 1,850,913 | ||||
Total current debts | 36.189.074 | 31,565,185 | ||||
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