Romanian aircraft components producer Aerostar Bacau recorded last year a EUR 4.4 million profit, up 33% over the previous year.

The company received more orders from the civil aviation sector, which increased its sales revenues by 23%, up to EUR 58.7 million.

Total expenses went up by over 21% in 2014, to EUR 55.1 million, whereas the operating profit increased by 50% to EUR 5.4 million.

The Bucharest-based company Iarom, controlled by the businessmen Grigore Filip, Mihail Nicolae and Doru Damaschin, holds a 71% stake in Aerostar, while the local investment fund SIF Moldova has a 14.6% stake in the company.

Iarom is the former state-owned National Centre of the Romanian Aeronautical Industry (CNIAR), which was privatized in 1998.

editor@romania-insider.com