Zentiva S A : SCD_Zentiva_Fin report 31.03.2023-EN

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S.C. ZENTIVA S.A.

QUARTERLY FINANCIAL REPORTING

AS AT 31 MARCH 2023

Report date:

31.03.2023

• Name of the issuer: ZENTIVA SA
• Registered office: Bd. Theodor Pallady nr.50, Bucuresti
• Phone / Fax: [phone]
• Tax identification number: RO336206
• Trade Register number: J/40/363/1991
• Regulated market on which the issued securities are traded: Bucharest Stock Exchange
• Share Capital - subscribed and paid-in: RON 69,701,704
• Class, type, no. and main characteristics of securities: 697,017,040 dematerialized class I shares
• Market value: RON 2.02 / share, represents the reference price of the last trading day from quarter I 2023
• Market capitalization as at March 31, 2023: RON 1,407,974,421

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ZENTIVA S.A.

FINANCIAL STATEMENTS - 31 March 2023

TABLE OF CONTENTS:
Statement of Comprehesive Income	3
Statement of Financial Position	4
Cash Flow Statement	5
Statement of Changes in Equity	6
Notes to the Financial Statements	7 - 20
Financial Ratios	21

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ZENTIVA S.A.

STATEMENT OF COMPREHENSIVE INCOME

For the period ended March 31, 2023

(all amounts are expressed in RON, unless specified otherwise)

	31.03.2023	31.03.2022
	RON	RON
Sales of goods	230,666,957	169,228,051
Turnover	230,666,957	169,228,051
Other operating income	5,685	16,037
Changes in inventories of finished goods and work in progress	2,110,222	4,124,149
Raw materials and consumables used	(116,882,563)	(99,150,194)
Employee benefits expenses	(36,901,437)	(31,246,161)
Depreciation, amortization and impairment	(7,272,413)	(7,210,154)
Marketing and advertising expenses	(2,267,057)	(1,304,561)
Expenses with provisions	(447,938)	-
Other operating expenses	(26,795,744)	(30,594,973)
Operating profit	42,215,711	3,862,193
Financial Income	11,137,478	4,257,363
Financial Expenses	(928,693)	(1,886,228)
Profit before tax	52,424,496	6,233,327
Income Tax Expense	(9,709,936)	(1,280,726)
Net profit after tax (A)	42,714,559	4,952,601
Other comprehensive income:
Other elements of comprehensive income not reclassified
through Profit and Loss account	-	-
Revaluation of land and buildings impact	-	-
Deferred tax on revaluation of land and buildings impact
recognised in equity	-	-
Other comprehensive income net of tax (B)	-	-
Total comprehensive income after tax (A) + (B)	42,714,559	4,952,601
Number of Shares	697,017,040	697,017,040
Earnings per share (RON/share)	0.061282	0.007105

Financial statements for the period ended March 31, 2023 are not audited.

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ZENTIVA S.A.

STATEMENT OF FINANCIAL POSITION

For the period ended March 31, 2023

(all amounts are expressed in RON, unless specified otherwise)

	31.03.2023	31.12.2022
Assets
Non-current assets
Property, plant and equipment	210,110,925	212,594,512
Advances for equipment	5,907,878	5,907,878
Right-of-use assets	19,641,388	18,681,887
Goodwill	11,649,100	11,649,100
Customer relationships	19,512,168	20,374,470
Other intangible assets	3,071,053	3,114,287
Total intangible assets	34,232,321	35,137,857
	269,892,511	272,322,135
Current assets
Inventories	162,928,979	173,060,231
Trade receivables and other receivables	271,908,968	151,446,752
Advances and prepayments	2,395,878	13,642,385
Cash pooling intercompany receivables	567,026,465	583,511,187
Cash and cash equivalents	22,126,356	11,190,679
	1,026,386,646	932,851,234
Total assets	1,296,279,156	1,205,173,370
Equity
Issued share capital	69,701,704	69,701,704
Share premium	24,964,506	24,964,506
Legal and other reserves	146,399,175	146,399,175
Revaluation reserve	67,069,892	67,069,892
Retained earnings	733,933,841	691,219,282
Total equity	1,042,069,118	999,354,559
Non-current liabilities
Contract liability	3,432,337	4,282,372
Employee benefit liability	6,054,490	5,947,909
Deferred tax liability	9,927,801	7,138,545
Lease liabilities	13,639,998	12,999,385
Provisions	1,265,568	1,265,568
Total non-current liabilities	34,320,194	31,633,780
Current liabilities
Contract liability	4,070,598	4,070,598
Trade payables and other payables	148,954,961	115,095,577
Income taxes payable	9,949,037	3,028,357
Short-term lease liability	6,362,910	5,811,596
Other current liabilities	45,566,811	41,593,377
Short-term provisions	4,985,527	4,585,527
Total current liabilities	219,889,844	174,185,032
Total liabilities	254,210,039	205,818,811
Total liabilities and equity	1,296,279,156	1,205,173,370

Financial statements for the period ended March 31, 2023 are not audited.

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ZENTIVA S.A.

STATEMENT OF FINANCIAL POSITION

For the period ended March 31, 2023

(all amounts are expressed in RON, unless specified otherwise)

CASH FLOW STATEMENT
	31.03.2023	31.03.2022
Cash flows from operating activities:
Profit before tax	52,424,496	6,233,327
Adjustments for:
Depreciation and amortization of tangible and intangible assets	7,272,413	7,210,154
Movements in provisions for risks and charges	2,428,788	1,262,976
Interest revenues	(9,915,279)	(6,544,059)
Interest expenses	414,330	245,739
Operating profit before working capital changes	52,624,748	8,408,138
Changes in inventories	9,178,518	(21,473,997)
Changes in trade, other receivables and advances	(109,215,709)	(48,409,461)
Changes in trade and other payable	38,346,218	59,023,418
Paid income taxes	-	-
Cash generated from operating activities	(9,066,224)	(10,860,042)
Cash flows from investment activities:
Proceeds from sale of non-current assets	-	-
Purchase of property, plant and equipment and intangible	(2,060,892)	(3,334,688)
assets
Interest (paid) / received	9,500,949	6,298,319
Movements in deposits related parties	15,414,353	(4,166,140)
Net cash used in investing activities	22,854,410	(3,637,383)
Cash flows from financing activities:
Other financial assets / liabilities	(2,852,510)	-
Net cash from/ (used in) in financing activities	(2,852,510)	-
Net increase (decrease) in cash and cash equivalents	10,935,676	(3,654,411)
Cash and cash equivalents at the beginning of the period	11,190,679	62,597,628
Cash and cash equivalents at the end of the period	22,126,356	58,943,217

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