Aerostar expects 26% higher revenue of RON218.3 million and 25% higher costs to RON199.2 million in 2013, according to the company’s budget of revenue and expenses approved Wednesday by its shareholders. In its 2012 budget approved in April, Aerostar estimated revenue of RON173.3 million and costs of RON159.2 million for this year.
The company also expects gross profit of RON19 million, up 36% from RON14 million estimated for 2012.
In the first nine months of 2012, Aerostar reported a 33% increase in turnover to RON134 million, from RON100.4 million in the same period in 2011, and net profit of RON11.2 million, 2.6 times higher from RON4.3 million in the same period in 2011, according to its quarterly financial report.
Nearly 22% of this year’s turnover represents sales of products and services on the local market (RON29.5 million), and 78% of sales (RON104.5 million) comes from exports, according to the report.
Aerostar reported a 40% rise in revenue to RON161.2 million in January to September 2012, compared to nearly RON115 million in revenues in the same period in 2011. It also reported a 36% increase in expenses to RON145 million in the mentioned interval, compared to RON107 million in the same period in 2011.
Aerostar has a share capital of RON37.4 million divided into 117.1 million shares with a face value of RON0.32.
The company is 71.09% owned by Iarom Bucuresti, while regional investment fund SIF Moldova (SIF2. RO) holds 12.46%
On the Bucharest Stock Exchange Tuesday, Aerostar shares were trading down 0.8% at RON1.271. (EUR1=RON4.5317)