It said its turnover declined 8.4% in the first half, to RON161.8 million.
Exports accounted for 81% of the company’s turnover in the first six months, or RON130.7 million, and were 14.5% lower compared with the same period in 2019.
Europa remained Aerostar’s main market in the first half of 2020, with 66.9% of the sales, while markets in Asia (6.93%), Africa (4.62%) and Canada (2.28%) accounted for nearly 14% of the sales. The domestic market covered 19.21% of Aerostar’s sales in the first half, compared with 13.44% in the same period last year.
The company’s debts stood at RON56.5 million end-June, down from RON64.9 million end-2019. Its total assets amounted to RON555.4 million end-June, from RON556.3 million end-2019.
Aerostar estimates the impact of the COVID-19 crisis could lead to a RON200 million drop in its sales in 2020, to RON278 million. It also estimates its net profit will be lower by RON33 million, at just RON10 million.
Aerostar is 71.3% owned by Iarom Bucharest, regional investment fund SIF Moldova (SIF2.RO) holds over 15% of the company’s shares, and the remaining shares are distributed among other investors on the Bucharest Stock Exchange.