Thirty-seven companies, including Romaero, will start trading on the Bucharest stock exchange’s (BVB.RO) AeRO market Wednesday.
Romaero eyes revenue of 98.8 million lei in 2015, up 22% from a year before.
Also, the company’s operating profit is seen at RON10.7 million in 2015, from losses of RON35 million in 2014. The financial loss are seen at RON10.7 million, from RON9.9 million in 2014.
Romaero holds 30% of the aeronautical spare parts domestic market and around 40% of the aircraft repairs market.
Aircraft repairs account for a third of the company’s revenue. The company currently has 50 clients, including Boeing, Bom¬bardier, Aerolean, Sabca and the Defense Ministry.
In 2014, Investment fund Fondul Proprietatea (FP.RO), a minority shareholder in Romaero, called for the urgent privatization of the manufacturer due to the difficult financial status. Hence, the Economy Ministry rejected this proposal.
Also, FP appealed in court the Economy Ministry’s decision to transfer the company’s shares on AeRO market.
The Economy Ministry owns 51.9% in Romaero, while regional investment fund SIF Muntenia owns 25.8% and Fondul Proprietatea owns 21%.
(English version by Manuela Panescu)