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Tuesday, November 21, 2017 
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AEROSTAR S.A. - ARS

2017 Q3 report

Release Date: 11/10/2017 8:01:38 AM

IRIS Code: 95692

A PERSPECTIVE  ON AEROSTAR

 Synthetic data for 9 months 2017, compared with 9 months 2016

 

 

 

 

MU

30.09.2017

30.09.2016

Registered Capital

thousands lei

48.729

48.729

 

 

 

 

Turnover  

thousands lei

223.799

240.127

 

 

 

 

·         Export sales

thousands lei

182.962

193.335

 

 

 

 

Expenses for investments

thousands lei

11.745

13.732

 

 

 

 

Actual No of employees, of which:

no

2.100

2.060

·         Own employees

no

1.947

1.785

·         Employees attracted through temporary labour agent

no

153

275

 

 

 

 

Gross Profit

thousands lei

34.658

57.243

 

 

 

 

Net Profit

thousands lei

26.984

48.334

 THE SHARE “AEROSTAR” 

 “ARS” stock exchange symbol

30.09.2017

30.09.2016

Number of shares

152.277.450

152.277.450

 

 

 

Market value per share at the end of the period

(lei) *)

4,27

3,09

 

 

 

Stock exchange capitalization (lei) *)

650.224.712

470.537.321

 

 

 

Transaction price during the period 

(minimum level / maximum level) (lei)

3,25 / 4,55

2,24 / 3,22

*) Source: Monthly Bulletin issued by Bucharest Stock Exchange

 AEROSTAR, DESIGNATED AS SUPPLIER OF THE YEAR BY SAFRAN LANDING SYSTEMS

(Messier-Bugatti-Dowty)

 The award granted to AEROSTAR during the annual meeting “Quality Day”,  attended by suppliers in Safran’s chain of supply, is specially important  as it is a new confirmation received for the compliance with customers’  requirements and expectations.

The award was handed on 31 May 2017 during the annual Supplier Conference organized by Safran at its headoffice in Bidos and congratulations were  transmitted to the entire AEROSTAR team.

 The suppliers selected  got recognition thus for their performance in the field of quality and on-time delivery, as well as for their capacity to innovate and support the activities of Safran Landing Systems.

 Safran Landing Systems is the world leader in the design, development and manufacture  of aircraft landing and braking systems. As a major supplier for Safran, Aerostar specializes in the production and testing of hydraulic systems: complete landing gears, various categories of actuators, complex parts and subassemblies, kits of parts for global aviation programmes such as Airbus 320, Airbus 330/350/380, Boeing 787 and others.

 Safran purchasing policy is based on solid, long-lasting, balanced relationships with their suppliers, selected according to demanding criteria in terms of performance, expertise and technological innovation. At the same time, Safran supports its suppliers in a drive for shared growth, based on continuous improvement at all levels.

 AEROSTAR AND AIRBUS AWARD D2P DETAIL PARTS PARTNER 2017

 In June 2017, on the occasion of Airbus Group Detail Parts Supplier Conference, Aerostar received the award for the performance achieved reflected in the co-operation with Airbus/PAG outlining the appreciation for Aerostar support for Airbus programmes successes.

 Aerostar’s positioning on the market is characteristic for the tier 2 suppliers in the global supply chains in the aviation industry.

 AEROSTAR’s contribution in the supply chains of the two dominant global players, AIRBUS and BOEING, is based on the technological development and of the production systems.

   IMPORTANT EVENT DURING THE REPORTING PERIOD  

- DISTRIBUTION  OF THE DIVIDENDS FROM THE PROFIT OF THE YEAR 2016,

 On the date of 1 September 2017, AEROSTAR  informed  the shareholders of the company in a press release on:

  The coordinates for the payment of the dividends to the shareholders, distributed from the profit of the year 2016:

 a) the gross dividend per share is 0.09 lei, of which the tax on dividends withheld is as per the legal rate in force on the payment date; the payment related costs will be covered from the net dividend value;

b) the "ex date" was set for the date of 31.08.2017  as approved by the O.G.M.S. held on 20.04.2017;  

c) the shareholders entitled to receive dividends from the net profit of the financial year 2016 are those registered in the consolidated shareholders’ register on 01.09.2017 - Record Date (approved by the O.G.M.S. held on 20.04.2017);

d) the dividends distributed from the profit made during the financial year 2016 were paid to the shareholders starting with the date of 20.09.2017- Payment Date (approved by the O.G.M.S. held on 20.04.2017);

 EVENTS SUBSEQUENT  TO THE DATE OF THE 9 MONTHS REPORT

In the field of civil aviation, on the date of 16 October 2017, Airbus si Bombardier announced their partnership  set for the “C series” programme, agreement which was designated as the biggest surprise of the year 2017 in aviation.

 This agreement is considered to impact on the profile of the aviation market by bringing together  Airbus’ global reach and scale with Bombardier’s newest, state-of-the-art jet aircraft family, positioning both partners to fully unlock the value of the C Series platform and create significant new value for customers, suppliers, employees and shareholders.

Under the agreement, Airbus will provide procurement, sales and marketing, and customer support expertise to the C Series Aircraft Limited Partnership (CSALP), the entity that manufactures and sells the C Series.

 Aerostar is a significant supplier in the Airbus chain of supply, while being also a supplier of parts and components for Bombardier programmes since 2015.

 “At Victoria Palace the Memorandum of Understanding was executed, which will enable launching the procurement programme for Army’s Patriot systems”

 On 18 October, at Victoria Palace, in the presence of Mihai Tudose, Romania’s Government Prime Minister, the Memorandum of Understanding was signed between the Ministry of Economy, through S.C.Aerostar S.A. and the American company Raytheon International Defence System, on the cooperation  in the field of the equipments and components related to the integrated multilevel air defence system.

At the signature event  attended officials of the Government of Romania, Hans Klemm, the Ambassador of the United States of America in Romania, representatives of the companies Raytheon and Aerostar.

The document provides the technology transfer  and technical assistance necessary to modernize and implement new technologies for the existing equipments, as well as the technical support specific for the Patriot missile system.

The signature of the memorandum enables the launching of the procurement procedures for the first Patriot system for the inventory of the Romanian Army, in accordance with the Procurement Plan for 2017-2026 and within the context of Romania’s arrangements as partner state in NATO’s eastern flank and strategic partner in the relation with USA.

The representatives of the two signatory companies, Grigore Filip, president, general director of S.C.Aerostar S.A. and William Schmieder, President Raytheon International Defence System Europe, respectively,  outlined that this is a first step of a long term cooperation, which includes Romania in the major acquisition programmes in the field of defence. New opportunities will thus be created  to implement the state-of-the-art technologies in the field while the development of the most advanced air and missile defence system is not only a security warrant for Romania, but also accomplishing Romania’s assumed commitments as  a NATO partner state.

Performance achieved

 

30 September

 

30 September

 

2017

 

2016

 

Revenues from sales

223.799

 

240.127

Other revenues

2.328

 

2.690

 Revenues related to the cost of inventories of products

 

 

 

And production in  progress

27.034

 

16.180

 Revenues from production of immobilizations

756

 

997

Total Revenues from Operations

253.917

 

259.994

Expenses

 

 

 

 Expenses with materials

(92.483)

 

(90.196)

 Expenses with employee benefits

(79.930)

 

(72.046)

 Expenses with amortization of immobilizations  

(17.587)

 

(11.731)

 Influence of adjustments  related to current assets

(11.870)

 

(26)

 Influence of adjustments related to provisions

6.944

 

1.373

Expenses related to external services

(20.691)

 

(27.833)

 Other expenses

(1.872)

 

(1.641)

Total Expenses with Operations

(217.492)

 

(202.100)

Profit from Operations

36.425

 

57.894

Financial Revenues

3.332

 

4.103

Financial Expenses

(5.099)

 

(4.754)

Financial Period

(1.767)

 

(651)

 

 

 

 

Profit before tax

34.658

 

57.243

 Tax on current profit, deferred

(7.674)

 

(8.909)

 

 

 

 

Net Profit of the Period

26.984

 

48.334

ECONOMIC & FINANCIAL INDICATORS

Indicator

Calculation Method

Result

  1. Current Liquidity Indicator

  Current Assets/Current Debts

6,07

  1. Endebtness Ratio

Capital loaned/Company capital

x 100

0

  1. Rotation of Client Debits

Average Client Balance/Turnover  x 270

56

  1. Rotation of Immobilized Assets  

Turnover/ Immobilized Assets

1,51

 

 

 

 

 

 

 

 

 

 

                                                                       

 



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