The Board of Directors of Farmaceutica REMEDIA S.A. informs that the Report for the First Semester of 2020 – the full version – is available on its own website http://www.remedia.ro  and in the link http://www.remedia.ro/en/investors-2-2/company-financials/.

During 01.01.2020 – 30.06.2020, the commercial company Farmaceutica REMEDIA S.A. recorded the following consolidated financial results:

The economic – financial indicators on 30.06.2020 are presented in the following table:

Notes:

1) Current liquidity – the indicator level reflects a good payment capacity, therefore a reduced risk for creditors in case of FR, certifying that the company is able to cover their short-term debts based on receivables and cash availabilities. The indicator evolved positively both as compared to the same period of last year (1,15) as of March 2020 (1.23). In the case of FRDL, the indicator is at the limit of attention, remaining at the same value as on 31.03.2020 and evolving positively compared to the same period last year (0.99).

2) Degree of indebtedness expresses the effectiveness of credit risk management, indicating potential financing, liquidity problems, with influences in honouring the assumed commitments. In the case of both companies there is no risk. In the calculation of this indicator, the borrowed capital includes both bank loans and debts from financial leasing.

3) Turnover speed for client debit items expresses company effectiveness in collecting its receivables, respectively the number of days until the date on which debtors pay their debts to the company. Considering the dynamics of sales and the specifics of receivables in the distribution of medicines, we consider that the value of the indicator is normal for both companies, under the given conditions. The dynamics of this indicator was for the following FR: 43 days for the first semester 2019 and 42 days for the first quarter 2020. In the case of FRDL we have: 128 days for the first semester 2019 and 111 days for the first quarter of 2020.

4) The value of the No. of storage Days indicator (54 days) can be considered as falling within the specifics of the activity, exceeding the limit imposed by the internal procedures of the company (45 days) in the case of FR. The indicator has improved compared to the same period last year (66 days) but has deteriorated compared to 31.03.2020 (48 days). In the case of FRDL the indicator has significantly improved compared to the same period last year (74 days), keeping the same value compared to 31.03.2020.

Chairman of the Board of Administrators,
TARUS” – Valentin Norbert TARUS e.U.

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