IAR Braşov's profit doubled

The aeronautical company IAR Braşov obtained, in the first half of the year, a net profit of 35.6 million lei, double that of the first six months of last year, given that the turnover amounted to 286.4 million of lei, 44% above that of the first semester of 2022, according to a company report published yesterday on the website of the Bucharest Stock Exchange (BVB).

The value of the sold production was 256 million lei, 83% more than in the first six months of last year, while the income from the sale of goods amounted to 30.4 million lei, 48.4% less than in the first half of last year.

According to the company's report, in the middle of this year, the degree of loading of the production capacities of IAR Braşov was 103%. The company specializes in maintenance and repair, including production of parts and subassemblies, for Puma and Alouette III helicopters.

For the first six months of the year, the company reported total operating expenses of 222.7 million lei, 26.4% more than in the first half of last year. Expenditures on raw materials and consumables amounted to 136.2 million lei, 50.4% more than in the first six months of last year, while personnel expenses amounted to 27.7 million lei , up 20.9%, for the same reporting period.

Under these conditions, for the first half of the year, IAR Braşov reported an operating profit of 40.7 million lei, double that of the first six months of last year, to which was added a profit from financial activities of 4, 7 million lei.

The Romanian State, through the Ministry of Economy, Entrepreneurship and Tourism, owns 64.9% of the aeronautical company.