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Ecovis _ Infographic business brochure

ECOVIS ECOVIS ECOVIS ROMANIA ROMANIA ROMANIA Farming in Romănia: Facts&Figures Roadmap in purchasing land and setting up farming operations Operational risks - Bottlenecks The biggest issues encountered are with legal & land ownership that gives a lot of Average price/ha Salaries: insecurity to local farmers & investors. However this can be solved by looking at the Work force Salary tax applied Arable land Аpprox 1. Option 1: land ownership titles critically strait from beginning. € Buying a running farm 1. Identifying the land option to buy, 2. Taking soil samples, 3. Identify the main ecological risks in the area (nitrates content , wastes etc ); 4. Identify the main demographical risks (for ex. age imbalance: older people and children representing more than 50% of the loc al population, etc ), 5. Risks&Opportunity analysis of the farm, 6. Checking the legal papers of the company, 7. Chec king the land own er ship papers, Other problematic areas are with storage capacities that place small farmers at the 2000-3000 € 3 million 180-800 € 16%-60.4% 13,298,000 ha (55,99% is ownad by individuals) 880.000 ha mercy of large traders that do not always give market prices. workers (skillad unskilled /month for skillad worken, day laborers: 050 -3 Euro/hour according to each situahon are culi vated Summary of Operational Risks: Crops: Best areas for crops: KY corn, wheat, and sunflower (di stant third), with rapeseed growing in importance and surface Wheat Romani an Plane & Western Plane, Corn: Romanian Plane & Western Plane & Moldavian Plane, Sunflower: Romanian Plane & Western Plane & Moldavian Plane Legal & Land Ownership: • Reforms are required to extent leasing periods so that farmers are motivated to invest in the leased land. Currently short leasing periods and insecurity (property law favors landowner and not land leaser) deters farmers leasing land from investing in the land. Climate: temperate Option 2: • Land consolidation necessity currently owners may own many small plots Production (yield per ha) - 2013: wheat the biggest production in the last 8 years: Production yield per hal - 2013: barley ihe biggest yield per ha Buying arable land in Romania that are too scattered. Subvention /ha winter: cloudy, with frequent snow and fog, summer sunny, with frequent showers and thunderstorms • Registration: properties that are not registered with approved surveyor reports with the bureau of land registration. 1. Identifying the land option to buy, 2. Taking soil samples, 3. Identify the main ecological risks in the area (nitrates content, wastes etc ); 4. Identify the main demographical risks (for ex. age imbalance: older people and children representing more than 50% of the loc al population, etc ), 5. Risks &Opportunity analysis of the area, 6. Checking the land ownership papers, Average annual rainfal 66 centimeters Irrigation 563.000 ha 3472 kg/ha 3,2 tons/ha 130 € overall - 7, 296 million tons overall 1,511 million tons (2012) Soil: Unpaved access roads 32.413 km • Low mineral/phosphate levels, salinity, acidity. Technologies: many individual owners do not use fertilizers, pesticides or mechanized works for crop maintenance or harvest, also there is a limited use of irrigation. The lack of capital conducts to low investment in machinery or infrastructure works 3. Option 3: Infrastructure: Buying and compacting • Storage capacity farmers are lacking storage capacity (big silos were all bought up by ADM/Cargill and such) and are thus forced to sell their product at lower prices. Storage capacity: H big silos were all bought up by major traders, and farmers must sell their product at lower prices. 1. Identifying the region were you want to buy, 2. Taking soil samples, 3. Identify the main ecological risks in the area (nitrates content, wastes etc ); 4. Identify the main demographical risks (for ex. age imbalance: older people and children repres enting more than 50% of the loc al population, etc ), 5. Get loc al contacts that will start to buy and compact land; 6. Checking the land own er ship papers. A Useful links: Human Resources: http://ec.europa.eu/agriculture/statistics/factsheets/pdf/ro_en.pdf http://www.madr. ro/en/rural-development.html http://old.madr ro/pages/dezvoltare rurala/nrdp-consolidated-version-june-2010 pdf http://www.apia.org ro/ http://www.fngcimm.ro/index, phpêpage=fonduri-europene • Loc king necessary skills to operate modern farm machinery and planting expertise is limited. Proper due diligence of the land/business, especially land ownership papers and bcation of actual plots is paramount when acquiring land. ECOVIS ECOVIS ROMANIA ECOVIS ROMANIA ROMANIA Climate & Risks Accounting Audit Payroll & HR Administration Consulting Fiscal & Financial Business & Management Consulting Main Climate Risks & Counteractions: ----------------- Prin ary proces sing ofdata and financial accounting Financialaudit according to International Standards of Auditing (ISA): Tax consulting (cu mency regularizations, inportex port proces ses, curto n codo, avoiding the double toxaton, inte matio nal tranractio nu); Pmparationand verificaton of salary and wage data ------------------ Financial analysu and feasibility studies; Reporting preporation and he conro ldated m port (VAT, income tax, social secunty, indedual tax mpo rt); Financialaudit mquired by the goup's policy: Risk Counteraction Payrol calkulation Conu ult ng for M&A restructunng proces ses, Delovery of mpots: pay slips, synoptic tabks of be nefits, retentio nu, contributions; Restaten ent offinancial sto toments pepasd acco rding to natio nal regulatio nu, to International Financial Repo ting Standods (lAS/IFKS) or Reporting Standards specific to the Client GAAP); Dry weather Irrigation Pmpanng and ce tification of an nual financial stoten entr: Fucal reports and revirion to identify and clarity he fucal duties of the Drawing up financing plans on long and mediun terms Flat Wet weather Drainage Financial interlaos with the Ela bo ating the requimd docunentation fbraces ing componies accounting sysbn; Harmonization of national fina ncial accounting with accounting rules of the nothe rcom pany (tor Companier internatonalgouo Downstream Fucal strategies acco rding to the specific care of each bank banu; Hailstorm Crops not susceptible to storms Interfacs with banking applcations and salary payment tonactions; (less vulnerable to flooding) compony; Assutance in inplenenting IT so lutions regarding financialand naagen ent accounting, enployees recordr, managenent repo rts et Run offs Contour farming, planting Internalaudit, Good soil (can absorb rain&permeable) Standard reporting to the nanagenent Assis tance offered during fucal itigations with autho nties Due diligence audit, Plant varieties less susceptible to spring frost; Cropinsurance; Organization and wview of he accounting function -C° Spring frost Burines & company opprau al Collection& proesing of enpbyee bted data Specific poblen s related to complance with the EU egulation Assutance in pe parationof trans for prices documento- Managenent of acco unting nethodi and proced ures applications Managenent, auditand gư tation of personnel files according to legal quireme nts and company +C° Heat Irrigation system to cool plants tion; Assis tance mgarding the organization of the fucal accounting (harmonization with the official fucal payer recods). Notifications abo ut Peronaloutrourcing for changes in the legislation accounting rervices at clients office; Opportunities vaintenance Or Electo nic The verification of accounting entres and the accurate qua lification of the operatio n directly related b the con pany's patnmo Enployee General ledger (REVISAL): Very strong opportunity to further increase yields in Romania and increase farm profitability. Oinkstock Maintenance of he a Bu arqop onpbyees, organizational structure and claufication of poritio ns; 1. 2. 3. Future CAP (higher direct single area payment scheme are expected) Precision Making optimal use of marginal lands by cultivating energy crops has pote ntial and can influence IRR. farming ECOVIS Romania SRL 12D Samuil Vulcan Street, 5 th D istrict, Buchare st, Romania. Tel: +40 (21] 410 20 60 Fax: +40 [21) 410 21 61 Mobil +40 724.343.500 E-Mail: [email protected] 4. 5. ll www.ecovis.ro www.ecovis.com Economies of scale [(storage capacity Modem forming echnology and proctices Aen ber of ECOVIS Internotionalt advuos accountants auditou lawyars represe ntad in mon than 50 countier on 4 codinenti ECOVIS ter otionalu a Swas asociaton Each Meaber Fine s an indepa ndeant legal e ity in it owncountry and only liable or a own act or oaiusiona, notthose of any oheretity ECOVIS Ron ano the lononion osber fen of ECOVIS Intmofional GLOBAL EXPERTISE WITH LOCAL FACES. 2.

Ecovis _ Infographic business brochure

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Farming in Romania: Facts&Figures Average price/ha: 2.000 – 3.000 Euro Work force: 3 million workers (skilled + unskilled) Salaries: 180-800 Euro/month for skilled workers; day laborers: 0.50 – 3...

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