Sanok Rubber Spólka Akcyjna : Consolidated Annual Report for 2020

CONSOLIDATED BALANCE SHEET

(Financial report as of the end of period) - in thousand PLN

SpecificationAs at

31.12.2020

31.12.2019

TOTAL LIABILITIES

1 004 181

954 664

Tangible fixed assets	416 022	432 086
Investment properties	4 615	3 489
Goodwill	7 323	6 969
Non-tangible assets other than goodwill	6 385	6 805
Long-term receivables	2 503	1 437
Financial assets	6	6
Deferred income tax assets	35 092	32 462
Long-term prepayments	6 206	6 465
Total fixed assets	478 152	489 719
Inventory	195 085	207 126
Trade receivables	150 338	140 988
Other short-term receivables	10 238	29 011
Income tax receivables	1 576	3 164
Prepayments	3 208	2 697
Financial assets	55 577	2 232
Cash	110 007	79 727
Total current assets	526 029	464 945
TOTAL ASSETS	1 004 181	954 664
Share capital	5 376	5 376
Valuation of warrants (incentive scheme)	6 291	6 291
Statutory reserve capital	1 792	1 792
Retained profits	498 019	462 844
Exchange rate differences	-13 855	-6 110
Total equity of the Parent Company	497 623	470 193
Non-controlling interests	429	815
Overall equity of the Parent Company and non-controlling interests	498 052	471 008
Credits and debt securities	89 833	178 382
Long-term provisions for employee benefits	20 625	19 729
Deferred income	5 236	5 357
Provision for deferred tax	13	379
Financial liabilities due to leasing	27 750	31 081
Total long-term liabilities	143 457	234 928
Credits and debt securities	190 478	89 937
Trade liabilities	96 595	94 197
Other financial liabilities	271	182
Financial liabilities due to leasing	3 941	4 113
Other short-term liabilities	18 800	26 552
Income tax liabilities	1 138	103
Contractual liabilities	19 241	6 972
Deferred income	2 075	2 155
Short-term provisions for employee benefits	21 081	20 334
Other short-term provisions	9 052	4 183
Total short-term liabilities	362 672	248 728
1

CONSOLIDATED PROFIT AND LOSS ACCOUNT in thousand PLN

01.01.2020	01.01.2019
Note
31.12.2020	31.12.2019
Sales revenues	9,12	976 070	1 052 229
Prime costs of the sale	13	806 174	881 051
Gross profit (loss) on sales	169 896	171 178
Selling costs	13	28 985	33 551
General and administrative costs	13	116 765	113 921
Other operating revenues	15	24 397	11 980
Other operating expenses	15	4 464	3 497
Profit/loss on operating activity	44 079	32 189
Loss (gain) due to impairment (reversal of losses) on trade and other receivables in
69	390
accordance with IFRS 9
Financial revenues	16	1 203	3 977
Financial expenses	16	8 788	4 661
Gross profit/loss (before taxation)	36 563	31 895
Income tax	17,24	44	-19 940
Net result	36 519	51 835
attributable to:
shareholders of the parent company	36 217	51 463
non-controlling shareholders	302	372
Weighted average number of shares	26 881 922	26 881 922
Earnings per share	1,35	1,91
Diluted weighted average shares	27 509 164	27 509 164
Diluted earnings per share	1,32	1,87
Revenue from sales of products	846 564	918 902
Revenue from sales of goods and materials	84 218	74 397
Other revenues	45 288	58 930
Total sales revenue including	976 070	1 052 229
of witch
revenue generated locally	320 896	328 949
revenues from foreign contractors	655 174	723 280
2

Specification

CONSOLIDATED CASH FLOW STATEMENT in thousand PLN

Specification

For the period from 01.01. to 31.12.

2020	2019
Net profit	36 519	51 835
Total adjustments for:	116 716	32 667
Depreciation	62 396	55 717
Net foreign exchange rate profit and loss	20 381	-3 488
Net interest and dividends	2 900	2 966
Income tax on profit before tax	2 774	1 994
Profit (loss) on investment activities	934	-198
Change in provisions	6 146	1 832
Change in inventory	12 041	-8 028
Change in receivables	8 325	4 509
Change in liabilities	14 686	2 579
Change in prepayments and deferred income	-3 082	-22 547
Other adjustments	-10 712	-393
Income tax paid	-73	-2 276
Net cash flows from operating activity	153 235	84 502
Inflows from sale of fixed assets and intangible and legal assets	510	1 307
Purchase of fixed assets and intangible and legal assets	-47 381	-118 295
Other investment cash flows	-62 470	54 631
Net cash flows from investment activity	-109 341	-62 357
Change in the balance of credits	52 342	3 726
Loans repayment	-59 648	0
Paid interest	-2 900	-2 966
Financial expenditure on lease	-3 451	-1 170
Dividends paid to owners	0	-26 882
Other revenues/expenses	-7	-1 649
Net cash flows from financing activity	-13 664	-28 941
Change in cash and cash equivalents	30 230	-6 796
Net exchange differences in cash and cash equivalents	50	-2
Opening balance of cash	79 727	86 525
Net change in cash	30 280	-6 798
Closing balance of cash	110 007	79 727
including of limited disposability	870	502
3