2020 First Quarter Report

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

During 01.01.2020 – 31.03.2020, the commercial company Farmaceutica REMEDIA S.A. recorded the following consolidated financial results:

The economic – financial indicators on 31.03.2020 are presented in the following table:


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 (1,19) and depreciated compared to December 2019 (1,3). In the case of FRDL, the indicator presents an average risk, especially as slightly deteriorated compared to the same period of the previous financial year (from 1,02) and December 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, while for FRDL, the value of the indicator indicates an almost non-existent risk. As compared to the same period last year, the indicator degraded (from 1,18%). In the calculation of this indicator, the borrowed capital comprises both bank credits, and financial leasing debts.

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 specific of collecting receivables in the distribution of drugs, we believe that the value of the indicator is normal for the both companies, under the circumstances. Compared to the same period of the last year, the indicator deteriorated in the case of FR (from 42 days) and improved considerably in the case of FRDL (from 131 days).

4) The value of the No. of storage Days indicator (48 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. Compared to March 2019, the indicator has improved both in the case of FR (from 66 days) and in the case of FRDL (from 76 days).

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

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