The Board of Administrators of Farmaceutica REMEDIA S.A. informs that the Semester I 2019 – full version – is available on our own website www.remedia.ro and at http://www.remedia.ro/investitori/informatii-financiare/.

During the period 01.01.2019 – 30.06.2019 the commercial company Farmaceutica REMEDIA S.A. recorded the following consolidated financial results:

 * Including trade discounts granted/received
**The values were retreated according to IFRS16

A breakdown of sales of goods by segment of activity is presented as follows:

Lei

REMEDIA Pharmacies 51.608.206 24,57%
Distribution 100.009.474 47,61%
Hospitals & Private Clinics Distribution 46.884.597 22,31%
Other operations 11.567.194 5,51%
Total 210.069.471 100,00 %

Other operating revenues” mainly comprise the following categories of revenues:collected rents, marketing services, sale of assets, logistic services, other services.

The financial statements as at 30.06.2019 were not audited by the independent financial auditor.

  Economic-financial indicators as at 30.06.2019      
LIQUIDITY AND WORKING CAPITAL FR FRDL  
Afferent liquidity (Current assets/ current debts) 1,15 0,99  
Current assets 29.846.239 201.316.712  
Current debts 25.867.962 202.198.461  
Indebtedness degree (loaned capital/equity x 100) 0% 372,2%  
Loaned capital* 0 15.851.873  
Equity 40.555.712 4.259.028  
Turnover speed for client debit items (Average customer balance /turnover*180x) 43 days 128 days  
Average customer balance 12.640.848 137.668.149  
Net turnover 52.740.570 194.078.292  
Turnover speed of stocks (average stock/ net COGS)*180 66 days 74 days  
Average stock 14.803.785 72.984.402  
Net COGS 40.659.908 178.021.684  

*including financial leasing

Notes:

1) Current liquidity – In the case of FR, the indicator level reflects a good payment capacity, therefore a low risk for creditors, certifying that the company is able to cover its short-term debts based on receivables and cash availability. The indicator positively evolved as compared to the same period of last year (1,1) although it declined slightly as compared to March 2019 (1,19). In the case of FDRL, the indicator is at the attention limit, regressing both as compared to the same period of last year (1,01) and as compared to the first quarter of 2019 (1,02)

2)Indebtedness degree expresses the effectiveness of credit risk management, indicating potential funding, liquidity problems, with influences in meeting the commitments. In the case of FR there is no risk while for FRDL, the value of the indicator indicates an average risk. In calculating this indicator, the borrowed capital comprises both bank loans and finance lease liabilities.

3)Turnover speed for client debit items expresses the effectiveness of the company in collecting its claims, i.e. the number of days until the debtors pay their debts to the company. Considering the dynamics of sales and the specificity of receivables collections in the distribution of drugs, we believe that the indicator’s value is a normal one for both companies, in the given circumstances. The dynamics of this indicator was for FR the following: 46 days for the first semester of 2018, 42 days for the 1st quarter of 2019 and 43 days for the 1st semester of 2019. In the case of FRDL, we have: 111 days for the first semester of 2018, 131 days in the 1st quarter of 2019 and 128 days in the first semester of 2019.

4)The days on hand indicator value (66 respectively, 47 days) can be considered to fall within the activity specificity, exceeding the limit imposed by the internal procedures of the company (45 days) in the case of FR. The indicator had the same value, both on 31.03.2019 and on 30.06.2018. If the FR indicator was strongly degraded as compared to the same period of last year (47 days), being maintained at approximately the same level as compared to the first quarter of 2019 (76 days)

„TARUS” – Valentin Norbert Tarus e.U.                                                                                                            

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