Aerostar SA: Quarterly report as of September 30, 2022 (posted on the Aerostar website on 11.11.2022, hours 08:00)


The report of the board of directors

JANUARY 1 – SEPTEMBER 30, 2022

9 Condorilor Street, Bacau 600302, Romania

Telephone/Fax number: 004-0234575070/004-0234 572023

Date of creation of the company: APRIL 17, 1953

European Unique Company Identifier (EUID):

ROONRC.J04/1137/1991,

The LEI identification code as a legal entity is 315700G9KRN3B7XDBB73;

Share capital subscribed and paid up: RON 48,728,784;

Unique registration code 950531, ISIN code ROAEROACNOR5,

Activities are carried out at the head officelocated in Bacău, Condorilor Street 9, postal code 600302;

Since January 2018, AEROSTAR also has a secondary headquarters (workplace) at the premises of Iaşi International Airport;

The main field of activity of the company is manufacturing. The main object of the company’s activity is “Manufacture of aircraft and spacecraft” – CAEN code 3030

Individual financial statements closed on September 30, 2022, are not accompanied by the auditor’s report. They have been audited by the company’s internal auditor.

Applicable accounting standards:

The individual financial statements are prepared in accordance with the provisions of the International Financial Reporting Standards (IFRS) adopted by the European Union, Accounting Law no. 82/1991, as republished, with its subsequent amendments and supplements and they are submitted in accordance with the requirements of IAS 1 (Note 3);

AEROSTAR S.A. is listed on the Bucharest Stock Exchange under the code ARS, with all shares issued in the Standard category. The register of its shares and shareholders is maintained as provided by SC Depozitarul Central SA Bucharest.

Reporting period: I JANUARY – 30 SEPTEMBER 2022.

The report of

the Board of Directors has been prepared in accordance with the provisions of Law 24/2017 regarding issuers of financial instruments and market operations and ASF Regulation n. 5/2018 of the Financial Supervisory Authority, regarding issuers of financial instruments and market operations, Annex 13, respectively.

The report of the board of directors

1

The report of the board of directors

2

I JANUARY – 30 SEPTEMBER2022

Report of the Board of Directors ………………………………………………………………2

Individual Financial Statements ………………………………………….. ………………………………………….. .19

GENERAL ASPECTS

With nearly 7 decades of experience, AEROSTAR places the improvement of its performance at the center of its business through continuous improvement and the development of its employees in a spirit of integration, innovation and initiative. We are focused on fulfilling our mission to meet the requirements and expectations of our customers through continuous improvement actions at all levels.

AEROSTAR SA is a privately held company that operates in global manufacturing programs in the global aerospace industry manufacturing and industrial level maintenance programs for civil and military aircraft. All information about the company is disseminated simultaneously, in accordance with the provisions of the Corporate Governance Code, both in Romanian and in English.

All shareholders can obtain information about AEROSTAR SA and its main events on the company’s website www.aerostar.ro.

The purpose of this report is to inform investors about changes in the status and performance of the company that occurred during the reporting period January-September 2022, as well as foreseeable developments in the industry market. of defense and aviation and in relation to the evolution of the company. development opportunities.

web/email www.aerostar.ro, [email protected]

JANUARY 1 – SEPTEMBER 30, 2022

Share of business sales

1805

EMPLOYEES

3261

PARTICIPATION IN TRAINING

SESSIONS

2.1%

aircraft manufacturing

21.5%

product

ZERO

commercial aviation MRO

WORK ACCIDENTS

49.6%

Defense systems

15.5%

SALARY INCREASES

26.8%

other products and

services

8.974 million lei

INVESTMENTS

Share of exports in turnover

3.16%

1.85%

Priorities

9.24%

28.40%

Romania

Europe

Asia

Africa

Canada+AUS

57.35%

The report of the board of directors

Consolidate Aerostar’s position and activities

ARS share 6.5 leiworldwide ;

Maintain workforce stability;

3

Mitigate environmental impact by increasing investment in clean technologies. Important events

The report of the board of directors

4

Significant events that occurred during the reporting period

March 13

End of negotiations between the Administration of AEROSTAR SA and the Employees’ Committee for the 2022-2024 Collective Labor Agreement. This agreement provides for a set of benefits intended to cover the dynamic needs and demands of employees as well as salary increases of 15.5%. The new provisions entered into force April 1, 2022;

April 20

During the Ordinary General Meeting, the shareholders of AEROSTAR approved the following points:

  • The report of the board of directors and the accounts for the 2021 financial year;
  • The financial auditor’s report on the audit of the financial statements;
  • The removal of responsibility from the general management and the members of the board of directors;
  • Breakdown of net income for the 2021 financial year.

June 16

The Ordinary General Meeting of Shareholders in accordance with the applicable legal provisions. The shareholders of AEROSTAR SA unanimously approved the valid votes cast (secret vote) the extension of the mandate of:

Grigore HOROI, Mihai DEJU and Daniel BOTEZ as members of the Audit Committee, appointed by the Resolutions of the General Meeting of August 13, 2020 in accordance with art. 65 of Law no. 162/2017 regarding the legal audit of annual accounts and consolidated annual accounts, until July 10, 2024.

The shareholders of the company AEROSTAR SA unanimously approved valid votes cast (secret vote) the appointment of the company Auditeval Consulting SRL as auditor and the conclusion of the financial audit agreement for a minimum period of 1 (one) year, with the option of extending it by an Additional Deed approved by the Board of Directors of the Company.

The draft resolutions, the material submitted for the approval of the OGMS and the forms requested by AEROSTAR have been posted on the company’s website. www.aerostar.ro, under Investor Relations.

Events after the reporting date

After the closing date, no event likely to have an impact on the financial statements as of September 30, 2022 has been recorded.

web/email www.aerostar.ro, [email protected]

Disclaimer

Aerostar SA published this content on November 09, 2022 and is solely responsible for the information contained therein. Distributed by Audienceunedited and unmodified, on November 11, 2022 08:51:04 UTC.

Public now 2022

All the news from AEROSTAR SA

Sales 2021 378M
78.7 million
78.7 million
Net income 2021 59.9 million
12.5 million
12.5 million
Net cash 2021 273 million
56.8M
56.8 million
PER 2021 ratio 21.0x
2021 performance 1.82%
Capitalization 1,165 million
243M
243M
EV / Sales 2020 1.51x
EV / Sales 2021 2.60x
# of employees 1,797
Floating 13.3%


Duration :

Period :




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Evolution of the income statement

Medium consensus
Number of analysts 0
Last closing price 7.65
Average target price
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