Aerostar Bacau profit, up some 7 pct in 2009

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Aerostar Bacau Co. reported a net profit of 10.2 million lei in 2009, up 6.8 percent from 2008, according to data published on Bucharest Stock Exchange (BVB) site.
The company succeeded to improve its financial results due to a favorable evolution in the last quarter, even though after the first nine months the profit was down by 10 percent.

Net turnover advanced from 152.69 million lei to 156.8 million lei, under conditions in which total revenues increased from 159.79 million lei to 165.99 million lei and total spending diminished from 157.02 million lei to 152.6 million lei. At last year-end the company had debts in the amount of 18.09 million lei and receivables in the value of 25.69 million lei. (1 euro trades at 4.1 lei).

Aerostar Bacau has a 57 years tradition – on April 17, 1953 the Central Aviation Workshop or the Economic enterprise “Aircraft Repair Plant” was set up. Aerostar operates since 1991 based on the current organization scheme.
The main activity objective is aircraft construction and repair and another traditional activity is fabrication of metallic recipients, as for gas. Services in the aviation repair, maintenance and modernization are destined both to defence and civil markets.

The main customer on the domestic market is the Ministry of Defence and foreign beneficiaries include large aviation companies, air operators, defence ministries from various countries etc. Aerostar brand is present on the military and civil markets in Europe, Asia, America and Middle East.

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