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Financial results for H1 2017

Main financial indicators for SIF Banat-Crișana as at 30.06.2017:

  • Net asset value: RON 2,203.59 million
  • Total value of assets under management: RON 2,225.14 million (calculated as per ASF regulations)
  • Net profit: RON 33.3 million
  • Market capitalization: RON 1,004.92 million (calculated for the outstanding shares)

SIF Banat-Crișana’s investment objective is the management of a diversified portfolio of high-quality assets, able to provide a constant flow of revenues, the preservation and the growth of capital over a medium-long term.

Net asset value, the main performance indicator for the company, had a positive progress during H1 2017, recording an increase of 14.74 as compared to 2016-year end, and 24% up over the same period of the previous year. Thus, net asset value (NAV) reached RON 2,203.59 million, and NAV/S rose to RON 4.2541 at the end of H1 2017.

Value of SIF Banat-Crișana’s total assets as at June 30, 2017, calculated as per ASF regulations, rose to RON 2,225.14 million, up 14.4% as compared to the value recorded at the end of the previous year. 

Carrying value of total assets as at June 30, 2017, of RON 2,337.39 million, is higher than the value recorded at 2016-year end. Within the assets under management, the largest weight is of the financial assets available for sale, amounting to RON 2,273.65 million, up 13% as compared to December 31, 2016.

Income as at June 30, 2017, amounting to RON 41.43 million, is lower than in the same period of the previous year, following lower a dividend and interest income, but in line with budget estimates.

Expenses recorded as at June 30, 2017, amounting to RON 5.98 million, decreased as compared to the first six months of the previous year, due to the reduction of most categories of expenses, mainly personnel expenses.

Net profit as at June 30, 2017, amounting to RON 33.3 million, is 51.7% lower than the result for H1 2016 (RON 68.9 million).

SIF Banat-Crișana ended H1 2017 with a market capitalization of RON 1,064.77 million (calculated using the closing price for the total shares issued, respectively of RON 1,004.92 million using only the outstanding shares).

SIF1 share price had a positive progress during H1 2017, from RON 1.8600 in the first trading day of the year, to RON 1.9400 as at June 30, 2017, representing a growth of 4.3%.

Half-Yearly Report in complete form prepared by SIF Banat-Crișana as at June 30, 2017, pursuant to the provisions of Law no. 24/2017, CNVM Regulations no. 1/2006 and 15/2004, and Norm no. 39/2015, is made available to the public as per the financial calendar of the company, starting August 11, 2017, 18:30 hours, at company’s headquarters and on the Internet, at www.sif1.ro.

Further information can be obtained from SIF Banat-Crișana’s Investor Relations Dept., tel/fax: +40257 304 446 / +40257 250 165, e-mail: comunicare@sif1.ro.