Income Statement S. Romaero S.A.

Stocks

RORX

RORORXACNOR9

Aerospace & Defense

End-of-day quote Bucharest S.E. Other stock markets 2024-01-17			5-day change	1st Jan Change
16.00 ^RON	-.--%		-.--%	-

05-12	Orbotix looks to sell Ukraine-tested attack drones in EU and beyond	RE
04-29	S. Romaero S.A. Auditor Raises 'Going Concern' Doubt	CI

629068.xZXsy18r9i8gFMs5VoRrZ-Fq91xKGs-01n4ibQuZTZw.svilkglMnXZqdvtTGuENCNE-j2kwLZbm5D8aLGSsA8bwwK6FCFmHGxRygg

Published financial data: S. ROMAERO S.A.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2021	2022	2023	2024	2025
Revenues	51.98M	69.21M	40.1M	55M	67.35M
Other Revenues, Total	-	5.55M	1.75M	-	-
Total Revenues	51.98M	74.76M	41.85M	55M	67.35M
Cost of Goods Sold, Total	11.83M	14.77M	24.56M	22.66M	17.53M
Gross Profit	40.15M	59.99M	17.29M	32.34M	49.82M
Selling General & Admin Expenses, Total	69.7M	67.92M	65.93M	62.08M	64.82M
Depreciation & Amortization - (IS)	12.06M	13.49M	11.53M	10.34M	9.88M
Other Operating Expenses	16.45M	38.66M	102M	-6.73M	4.36M
Other Operating Expenses, Total	98.2M	120M	180M	65.69M	79.06M
Operating Income	-58.04M	-60.08M	-162M	-33.36M	-29.24M
Interest Expense, Total	-6.6M	-7.7M	-21.3M	-1.76M	-810K
Interest And Investment Income	2.94K	2.79K	3.17K	186K	14.09K
Net Interest Expenses	-6.6M	-7.7M	-21.3M	-1.57M	-796K
Other Non Operating Income (Expenses)	-4.97M	-3.66M	6.81M	-4.74M	9.63M
EBT, Excl. Unusual Items	-69.62M	-71.45M	-177M	-39.67M	-20.41M
Gain (Loss) On Sale Of Investments	-	-	4.55K	545	-
Gain (Loss) On Sale Of Assets	6.64M	17.6M	34.37M	-	-
Asset Writedown	-	-	-	-	-
EBT, Incl. Unusual Items	-62.97M	-53.85M	-143M	-39.67M	-20.41M
Earnings From Continuing Operations	-62.97M	-53.85M	-143M	-39.67M	-20.41M
Net Income to Company	-62.97M	-53.85M	-143M	-39.67M	-20.41M
Net Income - (IS)	-62.97M	-53.85M	-143M	-39.67M	-20.41M
Net Income to Common Incl Extra Items	-62.97M	-53.85M	-143M	-39.67M	-20.41M
Net Income to Common Excl. Extra Items	-62.97M	-53.85M	-143M	-39.67M	-20.41M
Per Share Items
Net EPS - Basic	-9.06	-7.75	-20.52	-5.71	-2.94
Basic EPS - Continuing Operations	-9.06	-7.75	-20.52	-5.71	-2.94
Basic Weighted Average Shares Outstanding	6.95M	6.95M	6.95M	6.95M	6.95M
Net EPS - Diluted	-9.06	-7.75	-20.52	-5.71	-2.94
Diluted EPS - Continuing Operations	-9.06	-7.75	-20.52	-5.71	-2.94
Diluted Weighted Average Shares Outstanding	6.95M	6.95M	6.95M	6.95M	6.95M
Normalized Basic EPS	-6.26	-6.43	-15.92	-3.57	-1.84
Normalized Diluted EPS	-6.26	-6.43	-15.92	-3.57	-1.84
Supplemental Items
EBITDA	-45.94M	-46.59M	-105M	-23.03M	-19.36M
EBITA	-57.92M	-60.08M	-162M	-33.36M	-29.24M
EBIT	-58.04M	-60.08M	-162M	-33.36M	-29.24M
EBITDAR	-	-	-104M	-	-
Total Revenues (As Reported)	105M	114M	79.27M	68.23M	78.21M
Normalized Net Income	-43.51M	-44.65M	-111M	-24.79M	-12.75M
Supplemental Operating Expense Items
Advertising Expense	33.4K	37.05K	37.48K	33.07K	38.23K
Selling and Marketing Expenses	33.4K	37.05K	-	-	-
Net Rental Expense, Total	-	-	179K	-	-
Imputed Operating Lease Interest Expense	-	-	160K	-	-
Imputed Operating Lease Depreciation	-	-	19.15K	-	-
Maintenance & Repair Expenses, Total	7.68M	1.47M	811K	3.35M	3.49M

Fiscal Period: December	2021	2022	2023	2024	2025
Assets
Cash And Equivalents	3.48M	10.95M	25.14M	11.76M	4.15M
Total Cash And Short Term Investments	3.48M	10.95M	25.14M	11.76M	4.15M
Accounts Receivable, Total	9.05M	5.75M	5.65M	9.93M	9.05M
Other Receivables	37.91M	19.04M	15.06M	16.62M	16.87M
Total Receivables	46.95M	24.79M	20.71M	26.55M	25.92M
Inventory	63.92M	71.35M	60.54M	55.08M	50.61M
Prepaid Expenses	5.32M	4.43M	3.75M	2.82M	2.08M
Other Current Assets, Total	-	0	0	0	0
Total Current Assets	120M	112M	110M	96.22M	82.76M
Gross Property Plant And Equipment	977M	963M	918M	919M	-
Accumulated Depreciation	-83.28M	-96.01M	-107M	-117M	-
Net Property Plant And Equipment	894M	867M	812M	802M	793M
Other Intangibles, Total	123K	1.95K	1.59K	1.24K	931
Other Long-Term Assets, Total	110K	110K	152K	293K	-
Total Assets	1.01B	979M	922M	899M	876M
Liabilities
Accounts Payable, Total	25.5M	34.3M	33.2M	3.53M	5.99M
Accrued Expenses, Total	5.74M	4.75M	-	-	-
Short-term Borrowings	225K	350	-	-	-
Current Portion of Long-Term Debt	-	-	197M	-	-
Current Income Taxes Payable	-	-	30.93M	-	-
Unearned Revenue Current, Total	9.48M	2.45M	2.97M	521K	2.11M
Other Current Liabilities	89.82M	84.87M	130M	10.75M	27.94M
Total Current Liabilities	131M	126M	394M	14.79M	36.04M
Long-Term Debt	176M	185M	-	204M	196M
Unearned Revenue Non Current	12.38M	12.07M	11.02M	11.13M	10.28M
Other Non Current Liabilities	394M	412M	415M	610M	611M
Total Liabilities	713M	735M	819M	840M	853M
Common Stock, Total	17.37M	17.37M	17.37M	17.37M	17.37M
Retained Earnings	-596M	-635M	-729M	-773M	-811M
Comprehensive Income and Other	880M	862M	814M	814M	816M
Total Common Equity	301M	244M	103M	58.53M	22.55M
Total Equity	301M	244M	103M	58.53M	22.55M
Total Liabilities And Equity	1.01B	979M	922M	899M	876M
Supplemental Items
ECS Total Shares Outstanding on Filing Date	6.95M	6.95M	6.95M	6.95M	6.95M
ECS Total Common Shares Outstanding	6.95M	6.95M	6.95M	6.95M	6.95M
Book Value / Share	43.32	35.09	14.77	8.42	3.25
Tangible Book Value	301M	244M	103M	58.53M	22.55M
Tangible Book Value Per Share	43.3	35.09	14.77	8.42	3.25
Total Debt	176M	185M	197M	204M	196M
Net Debt	173M	174M	171M	192M	192M
Debt Equivalent Oper. Leases	-	-	1.43M	-	-
Account Code - Inventory Valuation	8	8	8	-	8
Inventories - Raw Materials, Total	12.18M	19.57M	19.11M	21.2M	21.99M
Inventories - Work In Process, Total	49.17M	71.83M	64.16M	57.36M	56.27M
Inventories - Finished Goods, Total	539K	629K	76.7K	33.1K	29.49K
Inventories - Others	2.03M	1.75M	1.05M	1.39M	518K
Land - (BS)	712M	704M	663M	663M	-
Buildings, Total	115M	110M	106M	106M	-
Machinery, Total	113M	113M	115M	116M	-
Full Time Employees	712	587	528	-	525
Accumulated Allowance for Doubtful Accounts (Supple)	11.21M	17.7M	17.96M	18.64M	18.78M

Fiscal Period: December	2021	2022	2023	2024	2025
Net Income	-62.97M	-53.85M	-143M	-39.67M	-20.41M
Depreciation & Amortization - CF	11.99M	13.49M	57.94M	10.33M	9.88M
Amortization of Goodwill and Intangible Assets - (CF)	118K	-	353	-	310
Depreciation & Amortization, Total	12.1M	13.49M	57.94M	10.33M	9.88M
(Gain) Loss From Sale Of Asset	-6.64M	-17.6M	-34.37M	-	-
Asset Writedown & Restructuring Costs	11.56M	26.02M	8.21M	1.49M	4.19M
Other Operating Activities, Total	8.12M	3.87M	42.28M	-37.33M	-9.63M
Change In Accounts Receivable	-21.63M	-3.26M	4.08M	-2.72M	739K
Change In Inventories	-16.31M	-8.03M	8.69M	4.41M	1.17M
Change In Accounts Payable	62.65M	24.89M	31.51M	48.63M	5.8M
Cash from Operations	-13.11M	-14.48M	-24.25M	-14.85M	-8.26M
Capital Expenditure	-	-	-	-	-
Sale of Property, Plant, and Equipment	8.91M	18.6M	36.71M	1.29M	635K
Other Investing Activities, Total	2.94K	2.79K	3.17K	186K	14.09K
Cash from Investing	8.91M	18.6M	36.71M	1.48M	649K
Long-Term Debt Issued, Total	1.59M	3.34M	1.72M	-	-
Total Debt Issued	1.59M	3.34M	1.72M	-	-
Long-Term Debt Repaid, Total	-	-	-	-	-
Total Debt Repaid	-	-	-	-	-
Issuance of Common Stock	-	-	-	-	-
Other Financing Activities, Total	-	-	-	-	-
Cash from Financing	1.59M	3.34M	1.72M	-	-
Miscellaneous Cash Flow Adjustments	-	1	-	-	-
Net Change in Cash	-2.61M	7.47M	14.19M	-13.37M	-7.61M
Supplemental Items
Cash Interest Paid	5.64M	7.43M	3.21M	-	-
Levered Free Cash Flow	-11.06M	-11.71M	34.35M	-194M	18.19M
Unlevered Free Cash Flow	-6.94M	-6.89M	47.66M	-192M	18.69M
Change In Net Working Capital	-17.24M	-17.17M	-91.27M	182M	-27.09M
Net Debt Issued / Repaid	1.59M	3.34M	1.72M	-	-

Fiscal Period: December	2021	2022	2023	2024	2025
Profitability
Return on Assets	-3.73	-3.77	-10.68	-2.29	-2.06
Return on Total Capital	-7.82	-8.29	-27.9	-7.43	-7.6
Return On Equity %	-21.48	-19.77	-82.33	-49.24	-50.34
Return on Common Equity	-21.48	-19.77	-82.33	-49.24	-50.34
Margin Analysis
Gross Profit Margin %	77.25	80.24	41.31	58.8	73.97
SG&A Margin	134.08	90.85	157.51	112.88	96.24
EBITDA Margin %	-88.38	-62.32	-249.76	-41.87	-28.74
EBITA Margin %	-111.44	-80.37	-388.19	-60.65	-43.41
EBIT Margin %	-111.66	-80.37	-388.19	-60.65	-43.42
Income From Continuing Operations Margin %	-121.15	-72.02	-340.67	-72.13	-30.3
Net Income Margin %	-121.15	-72.02	-340.67	-72.13	-30.3
Net Avail. For Common Margin %	-121.15	-72.02	-340.67	-72.13	-30.3
Normalized Net Income Margin	-83.7	-59.73	-264.26	-45.08	-18.94
Levered Free Cash Flow Margin	-21.28	-15.66	82.06	-352	27
Unlevered Free Cash Flow Margin	-13.34	-9.22	113.87	-350	27.76
Asset Turnover
Asset Turnover	0.05	0.08	0.04	0.06	0.08
Fixed Assets Turnover	0.06	0.08	0.05	0.07	0.08
Receivables Turnover (Average Receivables)	7.48	9.36	7.04	7.06	7.1
Inventory Turnover (Average Inventory)	0.21	0.22	0.37	0.39	0.33
Short Term Liquidity
Current Ratio	0.92	0.88	0.28	6.5	2.3
Quick Ratio	0.39	0.28	0.12	2.59	0.83
Operating Cash Flow to Current Liabilities	-0.1	-0.11	-0.06	-1	-0.23
Days Sales Outstanding (Average Receivables)	48.78	39	51.85	51.82	51.43
Days Outstanding Inventory (Average Inventory)	1.73K	1.67K	979.88	933.83	1.1K
Average Days Payable Outstanding	329.24	491.3	895.66	390.82	132.89
Cash Conversion Cycle (Average Days)	1.45K	1.22K	136.07	594.83	1.02K
Long Term Solvency
Total Debt/Equity	58.63	75.93	191.52	348.23	869.24
Total Debt / Total Capital	36.96	43.16	65.7	77.69	89.68
LT Debt/Equity	58.56	75.93	-	348.23	869.24
Long-Term Debt / Total Capital	36.91	43.16	-	77.69	89.68
Total Liabilities / Total Assets	70.32	75.1	88.87	93.49	97.43
EBIT / Interest Expense	-8.79	-7.8	-7.63	-18.95	-36.09
EBITDA / Interest Expense	-6.96	-6.05	-4.91	-13.08	-23.89
(EBITDA - Capex) / Interest Expense	-6.96	-6.05	-4.91	-13.08	-23.89
Total Debt / EBITDA	-3.84	-3.97	-1.88	-8.85	-10.12
Net Debt / EBITDA	-3.77	-3.74	-1.64	-8.34	-9.91
Total Debt / (EBITDA - Capex)	-3.84	-3.97	-1.88	-8.85	-10.12
Net Debt / (EBITDA - Capex)	-3.77	-3.74	-1.64	-8.34	-9.91
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	-37.83	17.84	-44.02	31.4	22.47
Gross Profit, 1 Yr. Growth %	-4.58	16.22	-71.87	87.04	54.05
EBITDA, 1 Yr. Growth %	-6.07	1.42	124.37	-77.97	-15.93
EBITA, 1 Yr. Growth %	-1.56	3.52	170.42	-79.47	-12.34
EBIT, 1 Yr. Growth %	-1.36	3.52	170.42	-79.47	-12.34
Earnings From Cont. Operations, 1 Yr. Growth %	12.91	-14.49	164.8	-72.18	-48.55
Net Income, 1 Yr. Growth %	12.91	-14.49	164.8	-72.18	-48.55
Normalized Net Income, 1 Yr. Growth %	24.8	2.63	147.69	-77.58	-48.56
Diluted EPS Before Extra, 1 Yr. Growth %	12.91	-14.49	164.8	-72.18	-48.55
Accounts Receivable, 1 Yr. Growth %	86.58	-36.45	-1.78	75.84	-8.83
Inventory, 1 Yr. Growth %	32.87	11.64	-15.15	-9.02	-8.12
Net Property, Plant and Equip., 1 Yr. Growth %	7.21	-2.99	-6.42	-1.17	-1.13
Total Assets, 1 Yr. Growth %	9.01	-3.45	-5.83	-2.53	-2.54
Tangible Book Value, 1 Yr. Growth %	5.46	-18.96	-57.91	-42.96	-61.48
Common Equity, 1 Yr. Growth %	5.46	-18.99	-57.91	-42.96	-61.48
Cash From Operations, 1 Yr. Growth %	-38.79	10.41	67.49	-38.75	-44.37
Capital Expenditures, 1 Yr. Growth %	-	-	-	-	-
Levered Free Cash Flow, 1 Yr. Growth %	-97.39	-30.34	-308.73	-663.65	-109.4
Unlevered Free Cash Flow, 1 Yr. Growth %	-98.35	-45.65	-509.48	-503.88	-109.71
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	-23.41	-5.44	-18.78	-14.23	26.85
Gross Profit, 2 Yr. CAGR %	-24.3	19.4	-42.12	-27.47	69.75
EBITDA, 2 Yr. CAGR %	13.32	-2.4	50.85	-29.7	-56.97
EBITA, 2 Yr. CAGR %	14.15	1.05	67.31	-25.49	-57.58
EBIT, 2 Yr. CAGR %	14.27	1.05	67.31	-25.49	-57.58
Earnings From Cont. Operations, 2 Yr. CAGR %	10.73	-1.74	50.47	-14.17	-62.17
Net Income, 2 Yr. CAGR %	10.73	-1.74	50.47	-14.17	-62.17
Normalized Net Income, 2 Yr. CAGR %	16.42	13.18	59.44	-25.49	-66.04
Diluted EPS Before Extra, 2 Yr. CAGR %	10.73	-1.74	50.47	-14.17	-62.17
Accounts Receivable, 2 Yr. CAGR %	1.15	8.89	-21	31.42	26.62
Inventory, 2 Yr. CAGR %	14.96	21.79	-2.68	-12.14	-8.57
Net Property, Plant and Equip., 2 Yr. CAGR %	4.38	1.98	-4.72	-3.83	-1.15
Total Assets, 2 Yr. CAGR %	5.97	2.59	-4.65	-4.19	-2.53
Tangible Book Value, 2 Yr. CAGR %	-6.09	-7.55	-41.6	-51	-53.12
Common Equity, 2 Yr. CAGR %	-6.09	-7.57	-41.61	-51	-53.12
Cash From Operations, 2 Yr. CAGR %	42.86	-17.79	35.99	1.28	-41.63
Capital Expenditures, 2 Yr. CAGR %	-	-	-	-	-
Levered Free Cash Flow, 2 Yr. CAGR %	-20.97	-83.39	42.95	243	-27.23
Unlevered Free Cash Flow, 2 Yr. CAGR %	-43.32	-87.21	93.86	306.67	-37.37
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	-14.95	-5.51	-20.6	-4.65	-3.42
Gross Profit, 3 Yr. CAGR %	-16.72	-5.04	-25.66	-14.43	-6.76
EBITDA, 3 Yr. CAGR %	29.46	9.2	28.82	-20.56	-25.38
EBITA, 3 Yr. CAGR %	26.91	10.57	40.29	-16.86	-21.34
EBIT, 3 Yr. CAGR %	26.99	10.57	40.29	-16.86	-21.34
Earnings From Cont. Operations, 3 Yr. CAGR %	21.27	1.59	36.74	-14.28	-27.63
Net Income, 3 Yr. CAGR %	21.27	1.59	36.74	-14.28	-27.63
Normalized Net Income, 3 Yr. CAGR %	25.44	11.63	46.94	-17.09	-34.14
Diluted EPS Before Extra, 3 Yr. CAGR %	21.27	1.59	36.74	-14.28	-27.63
Accounts Receivable, 3 Yr. CAGR %	0.24	-13.37	5.21	3.15	16.34
Inventory, 3 Yr. CAGR %	16.83	13.84	7.97	-4.84	-10.82
Net Property, Plant and Equip., 3 Yr. CAGR %	3.19	1.87	-0.9	-3.55	-2.94
Total Assets, 3 Yr. CAGR %	4.51	2.73	-0.3	-3.95	-3.64
Tangible Book Value, 3 Yr. CAGR %	-8.7	-10.59	-28.88	-42.05	-54.78
Common Equity, 3 Yr. CAGR %	-8.76	-10.6	-28.89	-42.06	-54.78
Cash From Operations, 3 Yr. CAGR %	9.25	31.1	4.22	4.24	-17.05
Capital Expenditures, 3 Yr. CAGR %	-	-	-	-	-
Levered Free Cash Flow, 3 Yr. CAGR %	-12.11	-12.89	-56.74	125.84	3.39
Unlevered Free Cash Flow, 3 Yr. CAGR %	-29.54	-31.65	-51.63	147.6	17.11
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	2.24	4.47	-13.11	-9.1	-4.23
Gross Profit, 5 Yr. CAGR %	5.6	14.25	-24.3	-14.33	3.43
EBITDA, 5 Yr. CAGR %	3.03	9.21	37.63	-8.44	-16.92
EBITA, 5 Yr. CAGR %	1.65	7.12	41.8	-5.58	-13.05
EBIT, 5 Yr. CAGR %	1.69	7.12	41.8	-5.58	-13.05
Earnings From Cont. Operations, 5 Yr. CAGR %	0.88	6.45	32.2	-5.04	-18.21
Net Income, 5 Yr. CAGR %	0.88	6.45	32.2	-5.04	-18.21
Normalized Net Income, 5 Yr. CAGR %	2.92	12.65	38.07	-5.04	-18.22
Diluted EPS Before Extra, 5 Yr. CAGR %	-1.25	5.2	32.2	-5.04	-18.21
Accounts Receivable, 5 Yr. CAGR %	-1.71	-9.24	-8.87	2.34	13.3
Inventory, 5 Yr. CAGR %	17.22	28.41	8.6	2.64	1.02
Net Property, Plant and Equip., 5 Yr. CAGR %	3.49	3.13	-0.05	-0.45	-1
Total Assets, 5 Yr. CAGR %	4.73	4.48	0.75	-0.1	-1.2
Tangible Book Value, 5 Yr. CAGR %	-6.14	-7.95	-23.64	-29.71	-39.8
Common Equity, 5 Yr. CAGR %	-6.15	-7.96	-23.68	-29.71	-39.81
Cash From Operations, 5 Yr. CAGR %	50.6	29.83	19.25	18.25	-17.35
Capital Expenditures, 5 Yr. CAGR %	-	-	-	-	-
Levered Free Cash Flow, 5 Yr. CAGR %	-42.15	-13.7	16.08	61.33	-46.74
Unlevered Free Cash Flow, 5 Yr. CAGR %	-47.56	-24.45	19.17	54.9	-46.36