Strong revenue and profit increases for Turbomecanica

The aircraft components manufacturer Turbomecanica Bucharest (TBM) reported, for the first three months of the year, a turnover of 45.6 million lei, up 32% compared to the first quarter of last year, while the net profit amounted to almost 4.2 million lei, more than three times higher compared to the result from the January-March 2024 period, of 1.28 million lei, according to a company report published yesterday on the Bucharest Stock Exchange (BVB) website.

The turnover achieved exceeded the established objective of 27.2 million lei by 67%, equivalent to the average of the first quarter of the last five years. "Although the exceedance is significant compared to the objective, it must be taken into account that the turnover achieved in the first quarter of this year represents an exception determined by the change in the delivery schedule to IAR Braşov," the company's report from BVB shows.

The company's operating expenses decreased by almost 2% in the first quarter, to 32.3 million lei. Expenses for raw materials, consumables and goods decreased by 13%, to 12.1 million lei, while personnel expenses increased by 12%, to 14.2 million lei, compared to those in the first quarter of the year.

Under these conditions, Turbomecanica reported an operating profit of almost 5.8 million lei for the January-March period of this year, almost two and a half times higher than the same period last year, of 2.34 million lei, while the company recorded a loss of 0.6 million lei from financial activities.

The net profit margin was 9.2%, close to the company's objective of 10% and increasing compared to the first quarter of 2024, when the margin was 3.7%. "The profit margin situation in the first quarter of 2025 at 9.2%, even if it places Turbomecanica outside the established target, represents a performance taking into account the seasonality of the company's production/sales," the company's report states, adding: "The instability of the global economic environment in the last five years and the premises of its maintenance both internationally and domestically, represent disruptive factors in the variation of the profit margin."

The company's largest shareholder is Radu Viehmann, who at the end of last year had 25.9% of Turbomecanica's capital, while Dana Maria Ciorapciu owned 15.2% of the aircraft components manufacturer.