MED LIFE S.A.
INDIVIDUAL UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED JUNE 30, 2021
PREPARED IN ACCORDANCE WITH INTERNATIONAL
FINANCIAL REPORTING STANDARDS AS ADOPTED BY EUROPEAN UNION
("IFRS")
Name of the issuing company: Med Life S.A.
Registered Office: Bucharest, 365 Calea Griviței, district 1, Romania
Fax no.: 0040 374 180 470
Unique Registration Code at the National Office of Trade Registry: 8422035
Order number on the Trade Registry: J40/3709/1996
Subscribed and paid-in share capital: RON 33.217.623
Regulated market on which the issued securities are traded: Bucharest Stock Exchange
CONTENTS: | PAGE: |
INDIVIDUAL STATEMENT OF FINANCIAL POSITION | 2 |
INDIVIDUAL STATEMENT OF COMPREHENSIVE INCOME | 3 |
INDIVIDUAL STATEMENT OF CASH FLOWS | 4 |
INDIVIDUAL STATEMENT OF CHANGES IN EQUITY | 5 - 6 |
NOTES TO THE INDIVIDUAL FINANCIAL STATEMENTS | 7 - 27 |
MED LIFE S.A.
INDIVIDUAL UNAUDITED STATEMENT OF FINANCIAL POSITION
FOR THE PERIOD ENDED JUNE 30, 2021
(all the amounts are expressed in RON, unless otherwise specified)
June 30, | December 31, | Variation | ||||
2021 | 2020 | 2021/2020 | ||||
ASSETS | ||||||
NON-CURRENT ASSETS | ||||||
Intangible assets | 9,193,264 | 10,675,893 | -13.9% | |||
Tangible assets | 245,742,379 | 244,998,068 | 0.3% | |||
Right-of-use asset | 61,803,510 | 71,462,302 | -13.5% | |||
Financial assets | 241,723,008 | 237,335,288 | 1.8% | |||
TOTAL NON-CURRENT ASSETS | 558,462,161 | 564,471,551 | -1.1% | |||
Current Assets | ||||||
Inventories | 10,582,019 | 13,224,013 | -20.0% | |||
Trade and other receivables | 93,355,497 | 89,382,165 | 4.4% | |||
Receivables with group companies | 104,339,853 | 95,020,068 | 9.8% | |||
Other receivables | 12,431,216 | 11,780,770 | 5.5% | |||
Cash and cash equivalents | 42,394,643 | 33,735,446 | 25.7% | |||
263,103,228 | 243,142,462 | 8.2% | ||||
Prepayments | 2,300,160 | 1,325,662 | 73.5% | |||
TOTAL CURRENT ASSETS | 265,403,388 | 244,468,124 | 8.6% | |||
TOTAL ASSETS | 823,865,549 | 808,939,675 | 1.8% | |||
LIABILITIES & SHAREHOLDER'S EQUITY | ||||||
Current Liabilities | ||||||
Trade and other payables | 82,015,007 | 96,605,850 | -15.1% | |||
Overdraft | 9,853,400 | 9,738,800 | 1.2% | |||
Current portion of lease liability | 20,541,536 | 21,416,526 | -4.1% | |||
Current portion of long term debt | 57,981,180 | 34,881,989 | 66.2% | |||
Intercompany payables | 4,304,041 | 1,036,693 | 315.2% | |||
Current tax liabilities | 3,135,748 | 3,829,499 | -18.1% | |||
Provisions | 2,885,053 | 2,885,053 | 0.0% | |||
Other short term liabilities | 16,884,747 | 16,008,640 | 5.5% | |||
TOTAL CURRENT LIABILITIES | 197,600,712 | 186,403,050 | 6.0% | |||
Long Term Debt | ||||||
Lease liability | 57,629,831 | 67,027,513 | -14.0% | |||
Other long term liabilities | - | 3,325,000 | -100.0% | |||
Long term debt | 311,751,988 | 333,649,420 | -6.6% | |||
TOTAL LONG-TERM LIABILITIES | 369,381,819 | 404,001,933 | -8.6% | |||
Deferred tax liability | 11,457,413 | 11,457,413 | 0.0% | |||
TOTAL LIABILITIES | 578,439,944 | 601,862,396 | -3.9% | |||
SHAREHOLDER'S EQUITY | ||||||
Share capital and share premium | 82,395,091 | 82,027,012 | 0.4% | |||
Treasury shares | (346,466) | (666,624) | -48.0% | |||
Reserves | 90,599,863 | 90,599,863 | 0.0% | |||
Retained earnings | 72,777,117 | 35,117,028 | 107.2% | |||
TOTAL EQUITY | 245,425,605 | 207,077,279 | 18.5% | |||
TOTAL LIABILITIES AND EQUITY | 823,865,548 | 808,939,675 | 1.8% | v | ||
Mihail Marcu, | Adrian Lungu, | |
CEO | CFO |
The accompanying notes are an integral part of the individual financial statements.
2
MED LIFE S.A.
INDIVIDUAL UNAUDITED STATEMENT OF COMPREHENSIVE INCOME
FOR THE PERIOD ENDED JUNE 30, 2021
(all the amounts are expressed in RON, unless otherwise specified)
6 Months ended June 30, | Variation | |||
2021 | 2020 | 2021/2020 | ||
Sales
Other operating revenues
Operating Income
Consumable materials and repair materials Third party expenses (including doctor's agreements)
Salary and related expenses
Social contributions
Depreciation
Impairment losses and gains (including reversals of impairment losses)
Other operating expenses
Operating expenses
Operating Profit
314,457,254 | 214,111,081 | 46.9% | ||
715,743 | 470,290 | 52.2% | ||
315,172,997 | 214,581,371 | 46.9% | ||
(53,732,467) | (32,380,922) | 65.9% | ||
(91,203,492) | (64,071,257) | 42.3% | ||
(72,726,691) | (64,872,956) | 12.1% | ||
(2,481,334) | (2,513,191) | -1.3% | ||
(23,960,084) | (23,008,865) | 4.1% | ||
(1,769,038) | - | -100% | ||
(14,609,519) | (12,820,036) | 14.0% | ||
(260,482,625) | (199,667,227) | 30.5% | ||
54,690,372 | 14,914,144 | 266.7% |
Finance income - interest revenue | 1,433,522 | 973,580 | 47.2% | ||
Finance cost | (7,510,857) | (6,195,935) | 21.2% | ||
Other financial expenses | (3,997,491) | (3,595,449) | 11.2% | ||
Financial loss | (10,074,826) | (8,817,804) | 14.3% | ||
Result Before Taxes | 44,615,546 | 6,096,340 | 631.8% | ||
Income tax expense | (6,955,456) | (1,316,900) | 428.2% | ||
Net Result | 37,660,090 | 4,779,440 | 688.0% |
Other comprehensive income items that will not be reclassified to profit or loss
Gain / Loss on revaluation of equity instruments
Deferred tax on other comprehensive income components
TOTAL OTHER COMPREHENSIVE INCOME
TOTAL COMPREHENSIVE INCOME
- | (146,013) | 100% | ||
- | 23,362 | 100% | ||
- | (122,651) | 100% | ||
37,660,090 | 4,656,790 | 708.7% |
Mihail Marcu, | Adrian Lungu, | |
CEO | CFO |
The accompanying notes are an integral part of the individual financial statements.
3
MED LIFE S.A.
INDIVIDUAL UNAUDITED STATEMENT OF CASH FLOWS
FOR THE PERIOD ENDED JUNE 30, 2021
(all the amounts are expressed in RON, unless otherwise specified)
6 Months ended June 30, | |||
2021 | 2020 | ||
Net profit before taxes | 44,615,546 | 6,096,340 | |
Adjustments for | |||
Depreciation | 23,960,084 | 23,008,865 | |
Interest expense | 7,510,857 | 6,195,935 | |
Allowance for doubtful receivables | 1,769,038 | - | |
Other non-monetary gains | - | (245,820) | |
Unrealised exchange gain / loss on interest bearing obligations | 3,273,336 | 3,595,449 | |
Interest revenue | (1,433,522) | (973,580) | |
Operating cash flow before working capital changes | 79,695,339 | 37,677,189 | |
Decrease / (increase) in accounts receivable | (6,392,816) | (6,228,352) | |
Decrease / (increase) in inventories | 2,641,994 | (1,135,869) | |
Decrease / (increase) in prepayments | (974,498) | (913,937) | |
Increase / (decrease) in accounts payable | (13,655,260) | 1,927,238 | |
Cash used in working capital changes | (18,380,580) | (6,350,920) | |
Cash generated from operations | 61,314,759 | 31,326,269 | |
Income tax paid | (7,649,207) | (49) | |
Interest received | 1,433,522 | 973,580 | |
Interest paid | (7,547,168) | (3,308,635) | |
Net cash generated from operating activities | 47,551,906 | 28,991,165 | |
Purchase of investments | (7,024,424) | 737,850 | |
Purchase of intangible assets | (1,265,343) | (747,650) | |
Purchase of property, plant and equipment | (11,632,952) | (10,554,787) | |
Loans granted | (9,319,785) | (1,155,007) | |
Net cash used in investing activities | (29,242,504) | (11,719,594) | |
Cash flow from financing activities | |||
Payment of loans | (10,685,713) | 7,774,797 | |
Lease payments | (10,744,366) | (9,896,369) | |
Increase in loans | 8,512,585 | 13,442,724 | |
Payments for purchase of treasury shares | (59) | (1,812,431) | |
Increase/(decrease) in loans granted to group companies | 3,267,348 | (393,030) | |
Net cash from/ (used in) financing activities | (9,650,205) | 9,115,691 | |
Net change in cash and cash equivalents | 8,659,197 | 26,387,262 | |
Cash and cash equivalents beginning of the year | 33,735,446 | 12,854,754 | |
Cash and cash equivalents end of the year | 42,394,643 | 39,242,016 |
Mihail Marcu, | Adrian Lungu, | |
CEO | CFO |
The accompanying notes are an integral part of the individual financial statements.
4
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Med Life SA published this content on 27 August 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 August 2021 07:21:05 UTC.