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*Bittnet individual results. We published Bittnet Group consolidated results separately.

BALANCE SHEET

2014 2015 2016 2017 2018
A. FIXED ASSETS
I. INTANGIBLE ASSETS 98.493 147.682 178.603 99.62 9.753.934
II. TANGIBLE ASSETS 179.073 58.742 4.501 1.815 643
III. FINANCIAL ASSETS 92.923 90.902 2.266.254 3.826.254
FIXED ASSETS – TOTAL 370.489 297.326 183.104 2.367.689 13.580.831
B. CURRENT ASSETS
I. INVENTORY 995.189 132.61 408.878 416.201 526.044
II.Receivables 3.249.575 4.815.606 7.499.261 10.313.567 26.988.039
III. SHORT TERM INVESTMENTS
V. CASH & CASH EQUIVALENTS 812.944 3.007.788 2.354.993 10.349.946 9.860.185
CURRENT ASSETS – TOTAL 5.057.708 7.956.004 10.263.132 21.079.714 37.374.268
C. PREPAID EXPENSES 68.672 94.669 686.217 1.164.516 1.694.641
D. SHORT TERM DEBT 3.557.154 5.623.092 3.677.445 8.512.531 20.378.052
E. NET CURRENT ASSETS / NET CURRENT LIABILITIES 1.567.397 2.421.826 6.824.913 13.002.133 17.991.690
F. TOTAL ASSETS LESS CURRENT LIABILITIES 1.937.886 2.719.152 7.455.008 16.099.388 32.271.688
G. LONG TERM DEBT 657.788 499.858 4.354.951 9818415 19.415.307
H. PROVISIONS 0 0 0 0 0
I. PREPAID / ADVANCE REVENUE 417.184 305.269
1. Subsidies for investments 415.355 299.514
2. Unearned revenue 1.829 5.755
less than one year 1.829 5.755
more than one year
3. Income received in advance for assets transferred from customers
Negative goodwill
J. CAPITAL & RESERVES
I. CAPITAL 333.333 450.438 1.351.315 3.044.426 5.175.524
1. Subscribed paid capital 333.333 450.438 1.351.315 3.044.426 5.175.524
2. Subscribed unpaid capital
3.Patrimony (autonomous public sector entities)
4. National institutes of research and development patrimony
II. PREMIUM SHARE CAPITAL 680.247 2.594.889
III. REVALUATION RESERVES
IV. MANDATORY RESERVES 60.359 61.073 69.147 164.559 210.693
Company own shares 33.333
Gains related to equity instruments
Losses related to equity instruments
V. RETAINED EARNINGS
SOLD C 309.066 392.026 507.392 896.861 1.245.333
SOLD D 0 0 0 0 0
VI. PROFIT (LOSS) FOR THE YEAR
SOLD C 212.643 1.033.833 1.180.277 1.590.291 3.676.077
SOLD D 0 0 0 0 0
Profit allocation 18.575 18.84 8.074 95.411 46.135
SHAREHOLDERS EQUITY – TOTAL 864.743 1.919.780 3.100.057 6.280.973 12.856.381
Public patrimony
CAPITAL – TOTAL 864.743 1.919.780 3.100.057 6.280.973 12.856.381

PROFIT AND LOSS ACCOUNT

2014 2015 2016 2017 2018
1. NET TURNOVER 8.179.532 9.992.994 13.694.914 21.745.520 19.887.510
Sold production 3.256.157 4.370.986 7.813.729 12.623.082 12.273.404
Revenues from sold merchandise 4.923.375 5.621.974 5.881.185 9.122.438 7.680.980
Commercial discounts 0
Interest expenses recorded by entities removed from the genera register and which have open leasing contracts 0
Income from subsidies related to net turnover 34 0
2. Revenues corresponding to production in progress (account 71)
Sold C 71.913 0 138.912 0
Sold D 0 25.54 0 111.482
3. Producţia realizată de entitate pentru scopurile sale proprii şi capitalizată 0
4. Other operating revenues 154.354 492.263 78.65 33.445 6.704.629
– including revenues from negative goodwill 0
OPERATING REVENUES – TOTAL 8.333.886 10.557.170 13.748.024 21.917.877 26.480.657
5. a) Expenses with raw materials and consumables 190.804 400.784 378.816 827.14 35.719
Other expenses 77.022 145.942 189.694 281.067 749.761
b) Other expenses with utilities (electricity and water) 615 37.773 29.434
c) Goods for resale 4.459.307 5.149.093 4.959.338 7.865.799 7.773.252
Discounts received 18.462 489 357 104190 196.980
6. Personnel expenses 436.073 574.947 957.792 1.023.431 641.866
a) Salaries 345.724 468.355 780.154 834.238 627.753
b) Social security contributions 90.349 106.592 177.638 189.193 14.113
7.a) Depreciation and amortization 169.327 153.268 114.304 81.669 66.710
a.1) Expenses 169.327 153.268 114.304 81.669 66.710
a.2) Revenues
b) Adjustments related to current assets 1.573
b.1) Expenses 1.573
b.2) Revenues
8. Other operating expenses 2.646.005 3.389.695 5.434.918 9.250.237 12.220.171
8.1. Expenses related to third parties 2.635.894 3.354.710 5.388.012 9.179.858 12.051.296
8.2. Expenses related to profit tax, other taxes and similar 80 3.621 1.36 2.342 1.728
8.3. Other expenses 10.031 31.364 45.546 68.037 167.147
Refinancing interest expense recorded by entities removed from the general register and having open leasing contracts 0 0
Adjustments for provisions 0 0
Expenses 0 0
Revenues 0 0
OPERATING EXPENSES – TOTAL 7.960.691 9.814.813 12.034.505 19.262.926 21.319.933
OPERATING PROFIT (OR LOSS)
– Profit 373.195 742.357 1.713.519 2.654.951 5.160.724
– LOSS 0 0 0 0
9. Revenues from investments 0
– including revenues from subsidiaries 0
10. Revenues from other investments and loans part of the assets 0
– including revenues from subsidiaries 0
11. Interest revenues 309 2.28 2.262 1.43 271.064
– including revenues from subsidiaries 229.526
Other financial revenues 39.544 710.403 98.865 84.465 245.010
FINANCIAL REVENUE – TOTAL 39.853 712.683 101.127 85.895 516.074
12. Value adjustments on financial assets and financial investments held as current assets 0
– Expenses 0
– Revenues 0
13. Interest expenses 118.99 172.908 328.572 597.714 1.156.494
– including expenses to subsidiaries 0 0
Other financial expenses 24.946 60.664 103.124 234.911 306.441
FINANCIAL EXPENSES – TOTAL 143.936 233.572 431.696 832.625 1.462.935
FINANCIAL PROFIT (OR LOSS):
– Profit 0 479.111 0 0
– Loss 104.083 0 330.569 746.73 946.861
14. PROFIT (OR LOSS) FROM ORDINARY ACTIVITIES:
– Profit 269.112 1.221.468 1.382.950 1.908.221 4.213.863
– Loss 0 0 0 0 0
15. Extraordinary Revenues
16. Extraordinary expenses
17. PROFIT (OR LOSS) FROM EXTRAORDINATY ACTIVITIES:
– Profit 0 0
– Loss 0 0
TOTAL REVENUES 8.373.739 11.269.853 13.849.151 22.003.772 26.996.731
TOTAL EXPENSES 8.104.627 10.048.385 12.466.201 20.095.551 22.782.868
GROSS MARGIN / PROFIT BEFORE TAX:
– Profit 269.112 1.221.468 1.382.950 1.908.221 4.213.863
– Loss 0 0 0
18. Income Tax 56.469 187.635 202.673 317.93 537.786
19. Other taxes 0
20. NET PROFIT (OR LOSS) FOR THE FISCAL YEAR:
– Profit 212.643 1.033.833 1.180.277 1.590.291 3.676.077
– Loss 0 0 0 0 0