Economic impact / Economic performance
Throughout 2021 we continued to act in an agile and courageous manner, without compromising on our conservative risk policy, thereby supporting continued and sustainable growth.
Last year, we recorded the highest figures in our business across all relevant performance indicators and we are confident that the financial results in 2021 are just the natural consequences of our long-term business thinking, our organization and risk management, and our organizational culture.
According to Autonom’s Annual Financial Report, 2021 was the best year so far in the company’s history. Last year, we recorded growth across all business lines and ended the financial year with revenues of RON 394.3 million (+21% growth compared to 2020), operating profit of RON 50.9 million (+53% growth compared to 2020) and a net profit of RON 22.5 million (+212% compared to 2020). Assets increased by 43% compared to 2020, reaching RON 914.5 million, with the cash position reaching RON 200.2 million as at 31 December
Fees/taxes
Revenue, tax and fee transparency is part of our corporate responsibility to contribute to sustainable communities. Timely payment of taxes and duties, and strict compliance with the law, is our commitment to the authorities and the communities in which we operate.
As of 2021, Autonom Services contributed to the state budget with RON 13.1 million for wages related taxes, RON 1.7 million for local taxes and RON 1.7 million for road taxes. As of December 2021, Autonom became “Large taxpayers”.
We are committed to respect fiscal legislation, and we have an open and constructive connection with the fiscal authorities. Starting with, as an additional measure of compliance with requirements, we decided to audit the financial statements, with support from one of the prestigious companies in the field.
Autonom has no aggressive practices for tax avoidance, preferring not to create artificial structures to reduce paid taxes and does not get involved in transactions with no economic value to get fiscal benefits. Transactions between companies belonging to Autonom Group follow competitional practices and OECD principles in force.
We perform ongoing risk analysis, analyze how financial trends could impact the company, and then develop tailored strategies. We analyze and report risks twice a year, during the audit, the Audit Committee being responsible to communicate conclusions to management.
The main financial data for 2021 are shown in the table below. For further details please see the Individual and Consolidated Director’s Report for 2021, following the link: https://www.autonom.com/assets/uploads/investitori/Annual%20Report%202021.pdf
2020 | 2021 | |
|---|---|---|
STATEMENT OF FINANCIAL POSITION | ||
Total non current assets | 537,640,128 | 672,280,828 |
Total current assets | 103,822,538 | 242,204,603 |
Total assets | 641,462,666 | 914,485,431 |
Total equity | 106,889,238 | 129,378,610 |
Non-current liabilities and provisions | 379,353,020 | 634,902,324 |
Current liabilities | 155,220,408 | 150,204,499 |
Total liabilities | 534,573,428 | 785,106,823 |
Total equity and liabilities | 641,462,666 | 914,485,431 |
STATEMENT OF PROFIT OR LOSS | ||
Total operating income | 327,028,313 | 394,260,552 |
Total operating expenses | - 293,759,831 | - 343,387,552 |
Operating profit | 33,268,482 | 50,872,999 |
Finance costs | - 25,274,151 | - 25,108,036 |
Finance income | 1,329,928 | 1,665,616 |
Profit/(loss) before income tax | 9,324,259 | 27,430,580 |
Income tax expense | - 2,117,287 | - 4,941,208 |
Net profit/(loss) for 12m | 7,206,972 | 22,489,372 |
Impact of investment on the local and national economy
Both locally and nationally, Autonom makes a major contribution to strengthening the economy. This is evidenced by the services we offer in the market, the direct and indirect jobs we create, the wages we offer and the social security contributions and taxes we pay.
Autonom also has a significant indirect impact in the community in the area of services, through the other companies in the Autonom group but also through the Autonom Foundation, especially in the area of education, where the Foundation’s direct investments exceeded 400 thousand lei.