BSE REPORT
CLUJ-NAPOCA
ANNUAL RESULTS
2022
Calea Turzii nr.178K, Etaj 1,
Cluj-Napoca, România, PO: 400491
E-mail.office@cemacon.roWeb:www.cemacon.ro
12 Month Performance 2022
- 91.7 million lei operational profit (EBITDA)
- Net turnover: 221.4 million lei
- 133.9 million Cash at the end of the period
General Manager Statement
CEMACON achieved a very good financial performance in 2022, in the context of some important challenges (the war in Ukraine, the energy crisis, volatility in the construction market, uncertain macroeconomic perspectives), and also some major projects ongoing: setting up a new brick slips factory (over 13 million euros investiment) in Sălaj, as well as starting the acquisition procedure of a brick factory in Bihor county.
These results are the confirmation of the fact that the strategic management so far, the focus on technology, digitalization, sustainability and the development of human resources skills are correct premises to achieve performance in the industrial sector in which we operate.
We are motivated, at the management level, to continue the development of CEMACON, to expand and take advantage of new opportunities in the construction materials production area, to create new partnerships and to strengthen the existing ones, having the conviction that equitable and honest business relations are essential for the development of the business environment in Romania.
In 2023 we will respond to the market demands with energy efficient products, that will cover the quality, efficiency and comfort needs of the beneficiaries, but also with a new range of products intended for the aesthetic segment of buildings, educating and cultivating the appetite for an architecture of beauty and good taste.
Page 2 of 9
Calea Turzii nr.178K, Etaj 1,
Cluj-Napoca, România, PO: 400491
E-mail.office@cemacon.roWeb:www.cemacon.ro
Profit and loss Account - 12 Months Results 2022
In 2022, Cemacon managed to maintain the upward trend of business, registering a turnover of 221 million lei, a 26% increase compared to the previous year, a net result of 71.8 million lei and a profitability rate of 32.45%.
All these results came in an economic context quite difficult to anticipate, with many changes in the area of energy resources, the increase in interest rates and a generalized inflation. Not having predictability and stability of costs for electricity and gas, we managed to make the investment in the cogeneration plant, implemented in May 2021, fruitful.
Also in 2022, Cemacon received a non-refundable financing of 45% of the investment value, for a photovoltaic park with an installed power of 1 MWH, through the Norwegian Financial Mechanism 2014-2021, Program for Energy in Romania Call 3.1 'Increased supply capacity of renewable energy' The project is being implemented and we expect to benefit from this new investment in the 2nd half of 2023.
The production lines operated at capacity, with no major interruptions in the production flow, which allowed significant operatio nal synergies to be obtained, with a direct impact on the production cost and the company's profitability.
Evolution of Net Turnover & Net Result (million Lei)
221.46 | ||||||||||||||
Net Turnover lei | Net Result lei | 176.02 | ||||||||||||
143.61 | ||||||||||||||
125.25 | ||||||||||||||
102.56 | ||||||||||||||
92.65 | ||||||||||||||
71.86 | ||||||||||||||
54.85 | ||||||||||||||
34.10 | ||||||||||||||
13.23 | 18.92 | 22.54 | 31% | 32% | ||||||||||
18% | 24% | 18% | ||||||||||||
14% | ||||||||||||||
31-Dec-17 | 31-Dec-18 | 31-Dec-19 | 31-Dec-20 | 31-Dec-21 | 31-Dec-22 |
Page 3 of 9
Calea Turzii nr.178K, Etaj 1,
Cluj-Napoca, România, PO: 400491
E-mail.office@cemacon.roWeb:www.cemacon.ro
Profit and loss Account - 12 Months Results 2022
31-Dec-22 | 31-Dec-21 | 2022 vs 2021 | 2022 vs 2021 | |
LEI | LEI | LEI | % | |
Gross Turnover | 246,187,970 | 190,903,036 | 55,284,935 | 29% |
Net Turnover | 221,456,096 | 176,020,735 | 45,435,361 | 26% |
Sales revenues | 221,435,406 | 176,008,642 | 45,426,763 | 26% |
Other operating revenues | 11,489,841 | 9,582,675 | 1,907,167 | 20% |
Other gains and losses | 348,255 | 3,874,971 | (3,526,716) | -91% |
Change in inventories of FG & WIP | 10,962,415 | 876,093 | 10,086,321 | 1151% |
Raw materials and consumables | (40,303,581) | (29,843,988) | (10,459,593) | 35% |
Personnel expenses | (38,846,840) | (29,208,067) | (9,638,773) | 33% |
Other operating expenses | (76,123,732) | (59,874,808) | (16,248,924) | 27% |
EBITDA | 91,740,331 | 74,722,091 | 17,018,240 | 23% |
Depreciation and amortization expenses | (14,488,179) | (12,850,394) | (1,637,785) | 13% |
Income impairment of assets | - | - | - | 0% |
EBIT | 74,473,585 | 58,565,125 | 15,908,459 | 27% |
Financial Income | 5,080,371 | 1,450,509 | 3,629,862 | 250% |
Financial Expenses | (1,590,951) | (1,135,629) | (455,322) | 40% |
Financial result | 3,489,420 | 314,880 | 3,174,540 | 1008% |
Profit before tax* | 77,963,005 | 58,880,006 | 19,082,999 | 32% |
Income tax expenses | (6,104,868) | (4,029,057) | (2,075,811) | 52% |
Profit after tax | 71,858,135 | 54,850,948 | 17,007,187 | 31% |
Total other elements of other | (95,048) | 17,228,069 | (17,323,117) | |
Comprehensive income | -101% | |||
Comprehensive income total | 71,763,086 | 72,079,018 | (315,932) | 0% |
* EBITDA = Operating profit + Expenses with depreciation + Financial discounts granted - Income impairment of non-current assets
Page 4 of 9
Calea Turzii nr.178K, Etaj 1,
Cluj-Napoca, România, PO: 400491
E-mail.office@cemacon.roWeb:www.cemacon.ro
Statement of financial position- Results 31 December 2022
31-Dec-22 | 31-Dec-21 | 2022 vs 2021 | 2022 vs 2021 | |
LEI | LEI | LEI | % | |
NON-CURRENT ASSETS | ||||
Property, plant and equipment | 203,699,307 | 156,211,126 | 47,488,180 | 30% |
Investment property | 8,885,960 | 8,885,960 | - | 0% |
Intangible | 1,131,377 | 1,555,775 | (424,398) | -27% |
Rights of use assets | 17,026,366 | 18,496,865 | (1,470,499) | -8% |
Investments | 1,000 | 1,000 | - | 0% |
Other non-current assets | 554,017 | 411,127 | 142,890 | 35% |
NON-CURRENT ASSETS TOTAL | 231,298,027 | 185,561,854 | 45,736,173 | 25% |
CURRENT ASSETS | ||||
Inventories | 22,579,886 | 13,075,235 | 9,504,650 | 73% |
Trade and other receivables | 50,248,650 | 17,064,942 | 33,183,708 | 194% |
Other assets | 16,612,591 | 11,330,612 | 5,281,979 | 47% |
Cash and cash equivalents | 133,909,885 | 84,223,350 | 49,686,535 | 59% |
CURRENT ASSETS TOTAL | 223,351,011 | 125,694,140 | 97,656,872 | 78% |
TOTAL ASSETS | 454,649,038 | 311,255,994 | 143,393,045 | 46% |
CURRENT LIABILITIES | ||||
Trade and other payables | 47,212,962 | 35,223,686 | 11,989,276 | 34% |
Loans and borrowings | - | - | - | 0% |
Lease liabilities | 702,461 | 645,008 | 57,453 | 9% |
Obligations under finance leases | 1,843,729 | 2,088,135 | (244,407) | -12% |
Grants received | 766,040 | 621,092 | 144,948 | 23% |
Tax liability | - | 975,690 | (975,690) | -100% |
Provisions | 10,045,567 | 11,096,948 | (1,051,381) | -9% |
CURRENT LIABILITIES TOTAL | 60,570,757 | 50,650,559 | 9,920,197 | 20% |
NON-CURRENT LIABILITIES | ||||
Non-current trade and other liabilities | - | - | - | 0% |
Loans and borrowings | - | - | - | 0% |
Lease liabilities | 4,937,224 | 5,329,619 | (392,394) | -7% |
Obligations under finance leases | 2,555,458 | 4,259,133 | (1,703,675) | -40% |
Grants received | 6,735,832 | 6,885,531 | (149,699) | -2% |
Tax liability | 3,004,628 | 3,756,047 | (751,419) | -20% |
Provisions | 2,848,866 | 2,780,548 | 68,318 | 2% |
NON-CURRENT LIABILITIES TOTAL | 20,082,008 | 23,010,877 | (2,928,870) | -13% |
Page 5 of 9
Attachments
- Original Link
- Original Document
- Permalink
Disclaimer
Cemacon SA published this content on 28 April 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 April 2023 12:42:03 UTC.