English
At the end of June 2011, "Avioane" Craiova (symbol: AVIO) reported a turnover of 1.46 million lei, down 23% over the similar period of 2010, due to lack of contracts.
The aircraft maker posted a loss of 4.51 million lei, down 39.53% over Q1 2010, according to the biannual report sent to the Bucharest Stock Exchange. This result was largely influenced by the booking of interest payments and penalties pertaining to the owed amounts, according to the officials of the company.
Total expenses, amounting to 6.48 million lei, fell by approximately 32.84% compared to Q1 2010, but surpassed by far the revenues made, of 1.96 million lei, which are up 10.22% in the first six months of the year.
Debts with a maturity of more than one year amount to 68.89 million lei, up 22.29% over Q1 2010.
Out of the total of debts recorded on June 30, 2011, the 65.32 million lei of outstanding debt has the following structure: the consolidated state budget (55.95 million lei), suppliers (1.28 million lei) as well as other creditors (8.07 million lei).
In Q1 2011, exports have accounted for 68.93% of the total sales, up Y/Y.
"Avioane" Craiova is controlled by the Romanian state, through the Ministry of the Economy, Trade and Business Environment, with a stake of 80.97%. The company has a market capitalization of 3,753,484 lei, for a price of 4.1 lei/share, recorded during yesterday"s session.
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