2019 Annual Report

The Board of Directors of Farmaceutica REMEDIA S.A. informs that the Annual Report for 2019 – 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 01.01.2019 – 31.12.2019, the commercial company Farmaceutica REMEDIA S.A. recorded the following consolidated financial results:

The economic – financial indicators on 31.12.2019 are presented in the following table:

Note:

1) Current liquidity – the indicator level reflects a good payment capacity, therefore a reduced risk for creditors, certifying that the companies are capable of covering their short- term liabilities based on receivables and cash availabilities. The indicator evolved positively both as compared to the same period last year (1,2) and as compared to September 2019 (1,28) to FR. In the case of FRDL, the indicator slightly improved as compared to December 2018 (1,01) and kept the same value as compared to September 2019 (1,02).

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 FR there is no risk, whereas for FRDL, the value of the indicator indicates a low risk. As compared to the same period of last year, the indicator degraded (from 1,18%). In the calculation of this indicator, the borrowed capital comprises both bank loans and finance lease liabilities.

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 liabilities to the company. Considering the dynamics of sales and the specificity of the collection of receivables in the distribution of drugs, we consider that the value of  the indicator is normal for both companies under the given conditions. For FR, the indicator had the following evolution; 43 days on September 2019 and 47 days on December 2018. In the case of FRDL, the indicator improved as compared to September 2019 (=121 days) and depreciated as compared to the same period last year (= 111 days).

4) Turnover speed of liabilities represents the average period in which suppliers are paid. In the previous financial year (2018), FR paid its suppliers in average at 125 days and FRDL at 177 days.

5) The value of the No. of days on hand indicator (60, 61 days respectively) can be considered that it falls within the specifics of the activity in the case of FRDL and exceeding the limit imposed by the internal procedures of the company (45 days) in the case of FR. In the case of FRDL, the indicator depreciated as compared to the same period last year (56 days) and improved as compared to September 2019 (=64 days).

6) Turnover speed of fixed assets expresses the effectiveness of the management of fixed assets, by examining the turnover generated by a certain quantity of fixed assets. In the case of FR, the indicator expresses a weak use of fixed assets, although it positively evolved from 2,61 to 2,77.

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


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