Aerostar’s profit up almost 90 times in Q1

Aerostar company ended first quarter of this year with net profit worth over 1.521 million lei, 90 times higher compared to the one reported in the same period one year ago, according to financial information sent to the Bucharest Stock Exchange (BVB).

The company’s turnover grew 11.75 percent as against the first months of 2008 and amounted to 31.019 million lei. Revenues totalled 33.603 million lei (down 17.6 percent) and expenditures stood at 31.512 million lei (down 29.14 percent).
On March 31, Aerostar had to pay debts worth 25.077 million lei and to retrieve claims worth 25.615 million lei.

Aerostar reported in 2008 net profit worth 9.503 million lei. The company’s revenues totalled 168.174 million lei and expenditures amounted to 157 .089 million lie. The turnover stood last year at 152.697 million lei.

Aerostar Bacau has a long tradition, as the central Aviation Workshop was established on April 17, 1953. Aerostar has been functioning since 1991 in today’s structure.
The core activity of the company consists of constructions and aircraft repairs, however, another traditional activity is the production of metallic recipients, gas cylinders. The services provided in the field of aircraft repairs, maintenance and modernisation are destined to the defence and civilian market alike.

The main customer on the domestic market is the Defence Ministry, whereas among external beneficiaries are big aviation companies, air carriers, defence ministries of various countries. Aerostar is present on military and civilian markets of Europe, Asia, America and the Middle East.

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