ARMTURA SA

PRELIMINARY FINANCIAL STATEMENT

31 DECEMBRIE 2016
(In lei, if is not specified other currency)

ARMTURA S.A.

SEPARATE PRELIMINARY FINANCIAL STATEMENTS

FOR THE FISCAL YEAR ENDED 31 OF DECEMBER 2016

PREPARED IN ACCORDANCE WITH

THE INTERNATIONAL FINANCIAL REPORTING STANDARDS
ADOPTED BY THE EUROPEAN UNION

1
 ARMTURA SA
PRELIMINARY FINANCIAL STATEMENT
31 DECEMBRIE 2016
(In lei, if is not specified other currency)

CONTENTS PAGE

PRELIMINARY STATEMENT OF FINANCIAL POSITION 3 - 4

PRELIMINARY STATEMENT OF REVENUE AND EXPENSES 5

PRELIMINARY STATEMENT OF COMPREHENSIVE INCOME 6

 ARMTURA SA
PRELIMINARY FINANCIAL STATEMENT
31 DECEMBRIE 2016
(In lei, if is not specified other currency)

1 st of 31-st of
January December
2016 2016
Assets

Non-current assets

Tangible assets 19,039,918 18,323,845

Intangible assets 19,065 1,923

Total non-current assets 19,058,983 18,325,768

Current assets

Inventories 6,391,629 5,846,537

Clients and other receivables 1,403,632 1,627,902
Cash and cash equivalents 123,318 547,651
Short-term financial assets 137,974 0

Current assets - Total 8,056,551 8,022,090

Assets -Total 27,115,535 26,347,858

Equity and liabilities

18,110,957 18,110,957
Share capital 9,738,908 9,738,908
- -
Reserves
30,881,460 33,460,209
Retained earnings

Total equity -3,031,595 -5,610,344

Long-term liabilities
Loans 0 0
Leasing 0 0
Deferred tax liabilities 1,084,892 1,084,892
Trade and other liabilities 75,814 37,907

Total long term liabilities 1,160,706 1,122,798

 ARMTURA SA
PRELIMINARY FINANCIAL STATEMENT
31 DECEMBRIE 2016
(In lei, if is not specified other currency)

1 st of 31-st of
January December
2016 2016
Current liabilities
Trade and other payables 6,169,576 7,939,751
Capital settlements with 100 100
Loans 22,622,500 22,705,500
Provisions for risks and
expenses 194,248 190,053

Total current liabilities 28,986,425 30,835,404

Total liabilities 30,147,130 31,958,202

Total equity and liabilities

27,115,535 26,347,858

seSignature,
Vicepresident of Board of Directors Head of Financial Department ,
Piotr Kamil Skudlarski Dan Adrian Martin
 ARMTURA SA
PRELIMINARY FINANCIAL STATEMENT
31 DECEMBRIE 2016
(In lei, if is not specified other currency)

Financial year Financial year

31 Decembrie 31 Decembrie
2015 2016

Revenue 19,496,953 19,254,634

Other operating income 53,973 39,513
Variation in stocks of finished goods and work in
progress -277,309 -585,452
Capitalised incomes from production of fixed assets 0 3,522
Raw materials and consumables -7,318,345 -8,054,592
Cost of goods -1,428,293 -569,521
Personnel expenses -5,925,465 -6,319,697
Utility expenses -3,767,457 -3,294,097
Services provided by third parties -764,452 -635,869
Amortisation and depreciation of fixed assets -259,991 -926,491
Net movement in provisions forother risks and
expenses 84,910 188,375
Other operating expenses -1,337,551 -1,137,701

Other income / (loss) - net 125,586 87,072

Operating result -1,317,441 -1,950,303

Financial revenue 97 -6

Financial expenses -690,664 -628,439

Net financial result -690,567 -628,446

Loss before taxation -2,008,008 -2,578,749

Current and deferred income 9,163 0

tax revenue / (expense)
Net loss for the period -1,998,845 -2,578,749
0 0
Shares issued 40,000,000 40,000,000

Earnings per basic share and diluted share -0.0500 -0.0645

 ARMTURA SA
PRELIMINARY FINANCIAL STATEMENT
31 DECEMBRIE 2016
(In lei, if is not specified other currency)

Financial year Financial year

31 Decembrie 31 Decembrie
2015 2016

Loss for the period -1,998,845 -2,578,749

Other elements of the comprehensive income:
Gain /(Loss) from revaluation of buildings 369,058 0

Impact of deferred tax on reevaluation reserves

-59,049 0
Other elements of the comprehensive income for the period,
net of tax 310,009 0

Total comprehensive income for the period -1,688,837 -2,578,749

seSignature,
Vicepresident of Board of Directors Head of Financial Department ,
Piotr Kamil Skudlarski Dan Adrian Martin