1st Semester 2023 Report
Translation of the Company's 1 st Semester report issued in the Romanian language
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99 Logofătul Tăutu street, Bucharest 3, 031212, Romania
T: +40 21 301 0600; F: +40 21 301 0605; Email: office@biofarm.ro; biofarm.ro
Share capital 98.537.535 lei, fully subscribed and paid-up, RO341563, J40/199/5.02.1991
Account RO26 BRDE 441 SV 28095 174410 BRD Decebal Branch
Table of Contents
1.1. General Assessment Elements: | 6 | |
1.2. Assessment of the Technical Level of the Commercial Company | 8 | |
1.3. Evaluation of the technical-material supply activity (indigenous sources, import sources) | 9 | |
1.4. Evaluation of the Sales Activity | 9 | |
1.5. Assessing the aspects related to the employees/personnel of the commercial company | 10 | |
1.6. Evaluation of the aspects related to the impact of the basic activity of the issuer on the environment | ||
14 | ||
1.7. Evaluation of the Research and Development Activity | 17 | |
1.8. Evaluation of the Activity of the Commercial Company regarding Risk Management | 17 | |
1.9. Elements of Perspective regarding the Activity of the Commercial Company | 18 | |
2. | Tangible Assets of the Commercial Company | 20 |
2.1. Specifying the location and characteristics of the main production capacities in the property of the commercial company. Description and analysis of the degree of wear of the properties of the commercial
company | 20 |
2.2. Specifying the potential problems related to the right of ownership of the tangible assets of the
commercial company | 22 | |
3. | Market of Securities Issued by the Commercial Company | 22 |
4. | Management of the Commercial Company | 23 |
5. | Financial - Accounting Statement | 27 |
5.1. | Assets, Liabilities and Equity Statement | 27 |
5.2. | Income and Expenses Statement | 28 |
5.3. | Cash flow: | 28 |
6. | Annual Report on Corporate Governance | 29 |
6.1. Corporate Governance Structures | 29 | |
6.1.1. | General Meetings of Shareholders | 29 |
6.1.2. | Board of Directors | 29 |
6.2. Rights of Shareholders | 37 | |
INDIVIDUAL FINANCIAL STATEMENTS | 39 | |
Statement of Comprehensive Income | 40 | |
Statement of Financial Position | 41 | |
Cash Flows Statement | 43 | |
Statement of Changes in Equities | 44 | |
Explanatory Notes to the Financial Statements: | 45 | |
1. | General Information | 45 |
1.1. | Company Presentation | 45 |
1.2. | Corporate Governance Structures | 45 |
2. | Accounting Policies | 46 |
2.1. | Bases of Assessment | 47 |
2.2. | Functional and Presentation Currency | 47 |
2.3. | Significant Accounting Valuations and Estimates | 47 |
2.4. | Presentation of Financial Statements | 49 |
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99 Logofătul Tăutu street, Bucharest 3, 031212, Romania
T: +40 21 301 0600; F: +40 21 301 0605; Email: office@biofarm.ro; biofarm.ro
Share capital 98.537.535 lei, fully subscribed and paid-up, RO341563, J40/199/5.02.1991
Account RO26 BRDE 441 SV 28095 174410 BRD Decebal Branch
2.5. Going Concern Principle | 49 | |
2.6. Intangible Assets | 49 | |
2.7. Tangible Assets | 49 | |
2.8. Real Estate Investments - IAS 40 | 53 | |
2.9. Inventories | 54 | |
2.10.Receivables | 54 | |
2.11.Financial Debts | 55 | |
2.12.Recognition of Income and Expenses | 55 | |
2.12.1. | Recognition of Income | 55 |
2.12.2. | Recognition of Expenses | 56 |
2.13.Depreciation of Non-Financial Assets (Excluding Inventories, Real Estate Investments and Assets | ||
on Deferred Tax) - IAS 36 "Depreciation of Assets" | 56 | |
2.14.Provisions - IAS 37 "Provisions, Contingent Liabilities and Contingent Assets" | 56 | |
2.15.Employees Benefits - IAS 19 Employees Benefits | 57 | |
2.16.Deferred Tax - IAS 12 | 58 | |
2.17.Dividends | 58 | |
2.18.Capital and Reserves | 59 | |
2.19.Financing Costs | 59 | |
2.20.Earnings per Share | 59 | |
2.21.Reporting on Segments | 59 | |
2.22.Affiliated Parties | 59 | |
2.23.Modifications brought to the Accounting Policies | 60 | |
3. | Financial Instruments and Risks Management | 62 |
4. | Income from Contracts with Clients | 65 |
5. | Raw Materials and Consumable Materials | 66 |
6. | Personnel Expenses | 66 |
7. | Other Operating Expenses | 67 |
8. | Net Financial Income | 67 |
9. | Corporate Tax Expenses | 67 |
10. | Earnings per share | 69 |
11. | Tangible Assets | 70 |
12. | Real Estate Investments | 72 |
13. | Intangible Assets | 73 |
14. | Inventories | 73 |
15. | Trade and Other Receivables | 74 |
16. | Cash and Cash Equivalents | 75 |
17. | Commercial Debts and Other Debts | 75 |
18. | Deferred Corporate tax | 76 |
19. | Other Provisions | 77 |
20. | Share Capital | 77 |
21. | Information on the Repurchase of Own Shares | 77 |
22. | Reserves | 78 |
23. | Retained Earnings | 79 |
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99 Logofătul Tăutu street, Bucharest 3, 031212, Romania
T: +40 21 301 0600; F: +40 21 301 0605; Email: office@biofarm.ro; biofarm.ro
Share capital 98.537.535 lei, fully subscribed and paid-up, RO341563, J40/199/5.02.1991
Account RO26 BRDE 441 SV 28095 174410 BRD Decebal Branch
24. | Current Profit Distribution for 2023 | 79 |
25. | Contingent Liabilities | 79 |
26. | Commitments | 79 |
27. | Information on the Audit of Financial Statements | 79 |
28. | Reporting on Segments | 79 |
29. | Affiliated Parties | 80 |
30. | Subsequent Events | 80 |
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99 Logofătul Tăutu street, Bucharest 3, 031212, Romania
T: +40 21 301 0600; F: +40 21 301 0605; Email: office@biofarm.ro; biofarm.ro
Share capital 98.537.535 lei, fully subscribed and paid-up, RO341563, J40/199/5.02.1991
Account RO26 BRDE 441 SV 28095 174410 BRD Decebal Branch
DIRECTORS' REPORT
BIOFARM SA for the 1st semester of 2023
Report acc. to: F.S.A. Regulation No. 5/2018 - Annex 15
For the first semester of: 2023
Date of the report: 30.06.2023
Name of the commercial company: Biofarm S.A.
Registered office: 99 Logofătul Tăutu street, Bucharest 3
Telephone/fax number: 021.301.06.21/021.301.06.24
Unique registration code at the Trade Register Office: RO 341563
Order number with the Trade Register: J40/199/1991 din 05.02.1991
Regulated market on which the issued securities are traded: BSE
Subscribed and paid-up share capital: lei 98,537,535
The main characteristics of the securities issued by the commercial company: dematerialised registered shares
1. Analysis of the Commercial Company Activity
Description of the basic activity of the commercial company:
BIOFARM S.A. has its registered office in 99 Logofătul Tăutu street, Bucharest 3 and has as amain activity the production and marketing of medicines for human use, NACE code 2120 "Manufacture of pharmaceutical preparations".
Biofarm S.A. holds the Certificate on compliance with good manufacturing practice issued by the National Agency for Medicines and Medical Devices of Romania for the manufacturing site located in 99 Logofătul Tăutu street, Bucharest 3:
- non-sterileproducts - soft capsules, liquids for external use, liquids for internal use, tablets, other solid dosage forms: sugar-coated tablets, film-coated tablets;
- herbal products;
- tests for physicochemical quality control.
Biofarm S.A. holds the Certificate on compliance with good manufacturing practice issued by the National Agency for Medicines and Medical Devices in Romania for the manufacturing site located in 202-232 Drumul Gura Bădicului street, Bucharest 3:
- non-sterileproducts - soft capsules, tablets, other solid dosage forms: sugar- coated tablets, film-coated tablets;
- herbal products;
- tests for quality control (microbiological - without sterility and physicochemical tests).
BIOFARM is constantly concerned with implementing and improving the customer- oriented integrated quality and environmental management system, which complies with the requirements of the ISO 9001:2015, ISO 14001:2015 standards.
In the first semester of 2023, Biofarm company, as a result of the audit carried out by the certified body SRAC - IQNet partner, obtained the certificate RO - 0187/17.03.2023, which proves once more that Biofarm has implemented and
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99 Logofătul Tăutu street, Bucharest 3, 031212, Romania
T: +40 21 301 0600; F: +40 21 301 0605; Email: office@biofarm.ro; biofarm.ro
Share capital 98.537.535 lei, fully subscribed and paid-up, RO341563, J40/199/5.02.1991
Account RO26 BRDE 441 SV 28095 174410 BRD Decebal Branch
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BIOFARM SA published this content on 11 August 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 11 August 2023 15:13:04 UTC.