English
The aeronautical company IAR Braşov (IARV) reported a turnover of 193.9 million lei for the first six months of this year, 13.5% below that of the same period last year, while net profit decreased by 34%, to 13.3 million lei, according to the issuer's report published on Friday on the Bucharest Stock Exchange (BVB) website.
In the first quarter, the issuer obtained a net profit of 15.5 million lei, which means that in the second quarter IAR Braşov recorded a loss.
Operating income amounted to 224.4 million lei in the first half of the year, 6.6% lower than in the January-June 2024 period, while income from the sale of goods was 21.7 million lei, 75% lower than in the first half of last year. Total expenses decreased by 3.2%, to 214.4 million lei. Expenses related to goods and trade discounts received were 16.8 million lei, 74% lower than in the first six months of 2024, while expenses for raw materials and consumables increased by 50%, to 144.5 million lei. In this context, IAR Braşov reported an operating profit of ten million lei, 46% below that of the January-June 2024 period.
The Romanian State, through the Ministry of Economy, Entrepreneurship and Tourism, owns 64.9% of the aeronautical company, whose stock market capitalization is about 280 million lei.
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