Aircraft maker Aerostar posted, in the first quarter of 2025, a net profit of 21.057 million lei, down 16.2% compared to that recorded in the similar period in 2024, according to the report submitted to the Bucharest Stock Exchange on Friday.Turnover amounted to 168.822 million lei (153.309 million lei in Q1 2024), and export sales to 146.834 million lei (127.989 million lei in Q1 2024).Aerostar's clients are located in Europe, Asia, Africa, the USA and Canada. In Europe, it provides maintenance services for civil aviation, aviation products (landing gear systems, mechanical parts, assemblies and subassemblies), electronic equipment and ground equipment. In Asia and Africa it provides civil aviation maintenance services and in Canada, aviation products.In Romania, the company provides repair services for military aircraft and repair of electronic parts and components for military aircraft, upgrades, integrations and maintenance for military aviation systems, repair services for systems and launchers and civil aviation products.In the first quarter of this year, Aerostar made capital expenditures worth 2.82 million lei. Of the value of investments in tangible assets, approximately 90% were made for the acquisition of technological equipment and installations for production programs, aircraft maintenance programs and for the maintenance of civil aircraft."The reporting period was marked by major economic turbulence, among which we mention the unpredictability of customs duties and the reorientation of defense policies of the world's states. The decisions taken by the world's organizations and states regarding the increase in defense budgets generated, at the state level, different orientations, but all converged towards increases in defense spending. In addition to all this, we witnessed the weakening of the dollar against the main international trading currencies. The Romanian leu also entered this monetary vortex, which registered a strengthening against the dollar with consequences on the company's result", the report states.It indicates that there was an 8.7% increase in the company's sales, with all three business lines of the company having approximately the same percentage contribution.However, operating income decreased compared to the same period last year, as a result of the change in the status of unfinished production stocks.A major influence on the net profit and its rate was the result of the financial activity, where a decrease in profit of 3 million lei was recorded, mainly due to exchange rate differences. Also, a small influence on the net profit rate was the expense of the profit tax, in this period the tax rate being higher compared to the same period last year.Aerostar's main business lines are: manufacturing of aeronautical products; maintenance of commercial aircraft; aerial and land systems for defense, production and integration.The main business lines, all in the aeronautics and defense field, aim to maintain the status of supplier in the field of aviation systems and land defense systems for the Romanian Ministry of National Defense and for other beneficiaries.The company has consolidated its position as a supplier for the globalized aviation industry, having an important footprint as a supplier of parts, aerostructures, hydraulic systems and landing gears, subassemblies and equipment for civil aviation.Aerostar is a regional center of excellence for commercial aircraft maintenance services, according to information on the BVB website.The company's main shareholders are IARIOM, with 71.5143% of the shares, and Evergent Investments, with 15.1394%.
Update: Bucharest Mayor Nicusor Dan won the Romanian presidential election on May 18, according to the official vote count. With 98.5% of the ballots counted, Nicusor Dan had 54.17% of the votes, 900,000 more than his opponent, nationalist George Simion. A record turnout both in the country and abroad helped Dan come back from 1.88 million […]
Romanians showed up in record numbers to vote in the second round of the presidential elections, both in the country and abroad. The exit poll results presented on Sunday evening pointed to a strong lead for Bucharest’s pro-EU mayor Nicusor Dan (54%-46%), but are only relevant for the domestic vote. Both candidates claimed victory in […]
Romanians showed up in large numbers to vote in the second round of the country’s presidential elections, one of the most important democratic tests Romania has seen in the last three decades. At 14:00, exactly halfway through the voting process in the country, over 5.63 million Romanians have cast their votes, compared with 4.52 million […]
Romanians abroad have mobilized massively to vote in the second round of the country’s presidential elections. Update: By Sunday afternoon (15:00 Bucharest time), over 1.2 million Romanians have voted abroad for the country's next president. That's some 220,000 more votes than the overall total in the first round. The countries with the largest turnout are […]
Romanians abroad have mobilized massively to vote in the second round of the country’s presidential elections. The vote in Diaspora started on Friday morning, and by Saturday evening (at 19:00), over 609,000 Romanians had already cast their votes. The turnout is almost 90% higher than the one recorded at the same time in the first […]
It's almost impossible to think about anything not related to elections this weekend but if you should need some distraction, there are options. Happening now is the European Film Festival, screening recent productions from the continent, very varied in theme, tone, and genre. The fest is playing Bucharest, Sfântu Gheorghe and Timișoara until Sunday and […]
