English
Aeronautical company IAR Brasov (IARV) reported a net turnover of 150.5 million lei for the first quarter of the year, 27% higher than in the first three months of 2024, while net profit amounted to 15.5 million lei, more than double that achieved in the January-March period of last year, of 6.3 million lei, according to the company's report published yesterday on the website of the Bucharest Stock Exchange (BVB).
On the other hand, operating income decreased by 21.5%, to 112.1 million lei, amid a negative result of 38.4 million lei from the variation in inventories of finished products and production in progress.
Operating expenses decreased by 30%, to 93.6 million lei, while expenses for raw materials, supplies and goods decreased by 36%, to 62.2 million lei. Personnel expenses increased by 26%, to 18.8 million lei, while other operating expenses were 3.3 million lei, down 20% compared to those recorded in the first quarter of last year.
In this context, IAR Braşov reported an operating profit of 18.4 million lei for the first three months of the year, more than double that of the January-March 2024 period, of 8.6 million lei, to which was added a gain from financial activities of 1.2 million lei.
The Romanian State, through the Ministry of Economy, Entrepreneurship and Tourism, owns 64.9% of the aeronautical company, whose stock market capitalization is about 240 million lei.
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