AEROSTAR S.A.


BVB TICKER:  ARS

Address:  BACAU, jud. BACAU, Str. Condorilor, nr.9

 Phone: +40 234575070

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