Aerostar Bacau, the biggest aircraft producer in Romania, recorded a net profit of RON 45 million (close to EUR 10 million) in the first half of this year, up by 80% compared to the same period of 2017.

The company’s turnover declined by 1.6%, to RON 160 million (EUR 34.4 million). Exports represented some 84% of the company’s turnover, similarly to the first half of 2017.

Aerostar produces aviation products and defense systems. It also provides maintenance for civil aircraft. The company based in Bacau, Eastern Romania, may also become a provider of components for Patriot missile systems, following a deal with US group Raytheon.

Aerostar Bacau, which is controlled by Romanian private investors, has a market capitalization of RON 774 million (EUR 166.5 million), after its shares went up 37% in the last year.

editor@romania-insider.com