AEROSTAR S.A.
BVB TICKER: ARS
Address: BACAU, jud. BACAU, Str. Condorilor, nr.9
www.aerostar.ro
Date: 24.07.2007
About the company
Aerostar SA is a company which does repair and maintenance for all
the types of aircraft in the inventory of the Romanian army. Aerostar is the
matrix where was made the IAR-93 prototype aircraft, the first fighter plane
built in Romania after the second world war.
Not only that Aerostar preserved its initial capabilities but also
developed them and acquired new capabilities.
Such a new capability is successfully shown in the upgrade of the MiG-21
Lancer aircraft belonging to the Romanian Air Force. Along this line of
development are the upgrade programmes in the Lancer family: Mig-21, Mig-21
bis, but also the upgrade demonstrator programme MiG-29 SNIPER, as well as the
modernisation of the trainer airplane IAK-52W and IAK-52TW. The modernisation
programme LAROM is an application in the field of ground defence systems
originating from the development and modification of the 40 APRA 122 FMC
multiple launch rocket system. These programmes have consolidated Aerostar's status as a repair and
modernisation house for military aircraft and defence systems, naturally
derived from its initial profile.
The preoccupations in the field of civil aviation, which are based on a
strategic decision, got materialised in the identification of the civil markets
for IAK-52, the supply of variants specially configured for these users, the
development of ultralight airplanes such as WT-01, the development of the
own-design ultralight airplane Festival.
The programmes under way in Aerostar and the results achieved have been a
pole around which gathered international cooperations with outstanding
partners: Elbit Systems, Thomson CSF Communications, DaimlerChrysler Aerospace.
History
Since 1953, the year of its establishment, the name changed in turn from
U.R.A. into I.R.Av, I.Av. and finally Aerostar, subordinated in turn to the
Ministry of Armed Forces, Air Defence Headquarters, General Industrial
Direction of the Army, then to the Ministry of Machine Building Industry as
part of the Central Department for Fine Mechanics and Aeronautical Industry, of
Bucharest Aeronautical Group or of the National Centre of the Romanian Aeronautical
industry or as an autonomous entity operating in the aeronautical and defence
industry. Aerostar has followed its own development course, always in the service
of its main customer, the Romanian Ministry of National Defence.
Major shareholders
|
Shareholder |
Shares |
Percent |
|
S.C. IAROM S.A. |
8,327,138 |
71.09% |
|
ALTI ACTIONARI |
2,073,421 |
17.70% |
|
S.I.F. MOLDOVA |
1,313,092 |
11.21% |
|
Total No. of Shares |
11,713,653 |
|
Nominal Value |
2.5000 |
|
Share Capital |
29,284,132.50 |
Annual financial information (Key financials)
|
|
2006(RON) |
2005(RON) |
2004(RON)* |
|
Fixed assets - Total |
39,056,352.00 |
22,833,508.00 |
23,470,223.30 |
|
Current assets - Total |
68,937,272.00 |
38,962,603.00 |
33,040,157.80 |
|
|
|
|
|
|
Debtors - due within one year |
28,355,332.00 |
16,388,188.00 |
14,929,632.70 |
|
Current assets/Net current liabilities |
40,581,940.00 |
22,574,415.00 |
18,110,585.70 |
|
Total assets less current liabilities |
79,449,063.00 |
45,405,235.00 |
41,566,944.80 |
|
Debtors - due after more than one year |
1,178,995.00 |
0.00 |
0.00 |
|
Revenues in advance |
189,229.00 |
2,688.00 |
13,864.20 |
|
|
|
|
|
|
Subscribed paid up capital |
29,284,133.00 |
29,284,133.00 |
29,284,132.50 |
|
Shareholders equity - Total |
66,823,961.00 |
42,658,516.00 |
40,193,239.50 |
|
|
|
|
|
|
Total receivables |
7,582,347.00 |
12,097,538.00 |
4,142,729.10 |
|
Total liabilities |
29,534,327.00 |
16,388,188.00 |
14,929,632.70 |
|
|
|
|
|
|
Net turnover |
140,976,614.00 |
102,734,723.00 |
104,566,067.60 |
|
|
|
|
|
|
Operating income - Total |
143,786,393.00 |
105,464,254.00 |
98,176,140.70 |
|
Operating expenses - Total |
126,759,422.00 |
98,313,131.00 |
92,006,251.00 |
|
Operating result |
17,026,971.00 |
7,151,123.00 |
6,169,889.70 |
|
|
|
|
|
|
Financial income - Total |
2,639,124.00 |
1,886,494.00 |
2,621,566.00 |
|
Financial expenses - Total |
2,269,375.00 |
1,132,541.00 |
910,191.20 |
|
Financial result |
369,749.00 |
753,953.00 |
1,711,374.80 |
|
Current result |
17,396,720.00 |
7,905,076.00 |
7,881,264.50 |
|
|
|
|
|
|
Extraordinary income |
0.00 |
0.00 |
0.00 |
|
Extraordinary expenses |
0.00 |
0.00 |
0.00 |
|
Extraordinary result |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
Total revenues |
146,425,517.00 |
107,350,748.00 |
100,797,706.70 |
|
Total expenses |
129,028,797.00 |
99,445,672.00 |
92,916,442.20 |
|
|
|
|
|
|
Gross result |
17,396,720.00 |
7,905,076.00 |
7,881,264.50 |
|
Net result |
13,450,668.00 |
6,800,130.00 |
6,148,879.80 |
|
Result per share |
- |
- |
0.5249 |
|
|
|
|
|
|
Back payments - Total |
0.00 |
0.00 |
0.00 |
|
Back payments for suppliers - Total |
0.00 |
0.00 |
0.00 |
|
Back payments of liabilities to the social insurance budget
|
0.00 |
0.00 |
0.00 |
|
Taxes which are not paid to the State budget upon payment
date |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
Average number of employees (only full time employees)
|
1646 |
1810 |
2040 |
|
|
|
|
|