Aerostar S.A.

Earnings Release • Feb 15, 2016

15.02.2016

PRESS RELEASE PRELIMINARY FINANCIAL RESULTS OF THE YEAR 2015

S.C. AEROSTAR S.A. BACAU releases "The Preliminary Financial Results of the year 2015".

The preliminary financial results presented are not audited, being prepared in accordance with the applicable accounting standards.

The reporting comprises:

• Individual preliminary statement of the financial position for the financial year ended 31 December 2015
• Individual preliminary statement of the profit or loss for the financial year ended 31 December 2015.

The preliminary financial results can be consulted on the company website starting with 15 February 2016, hours 800 am at: www.aerostar.ro./secţiunea Raportãri legale / Raportari periodice /Anul 2016.

www.aerostar.ro/ Legal Reports , respectively.

PRESIDENT OF THE BOARD OF DIRECTORS, GRIGORE FILIP

VICEPRESIDENT OF THE BOARD OF DIRECTORS, DORU DAMASCHIN

S.C. AEROSTAR S.A. INDIVIDUAL PRELIMINARY STATEMENT OF THE FINANCIAL POSITION FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2015

(all amounts are stated in thousands lei unless specified otherwise)

	31.dec 2015	31.dec 2014
ASSETS
Immobilized Assets
Tangible Immobilizations	142.278	119.987
Intangible Immobilizations	2.006	1.561
Investments in Real Estate	6.248	7.642
Financial Immobilizations	212	477
Total immobilized assets	150.744	129.667
Circulating Assets
Stocks	43.562	37.380
Commercial Receivables and other receivables	57.194	40.643
Cash and cash equivalents	101.299	92.426
Total circulating assets	202.055	170.449
Receivables related to tax on deferred profit	6.546	4.588
Expenses in advance	434	408
Total Assets	359.779	305.112
COMPANY CAPITALS AND DEBTS
Capital and Reserves
Registered capital	48.729	48.729
Current Result	52.268	19.744
Result carried forward	57.382	57.295
Other reserves	34.773	13.829
Debts related to tax on deferred profit recognized
on account of company capitals	9.884	6.524
Profit distribution for legal reserve	(21.517)	(3.322)
Total company capitals	181.519	142.799
Long term debts
Subsidies for investments	16.875	9.902
Revenues registered in advance	0	1.012
Total long term debts	16.875	10.914
Provisions on long term	70.086	67.044
Current debts
Commercial debts	34.497	39.727
Debt with tax on current profit	1.970	4.231
Other current debts	14.222	12.983
Total current debts	50.689	56.941
Provisions on short term	40.610	27.414
Total provisions	110.696	94.458
Total debts	67.564	67.855
Total company capitals, debts and provisions	359.779	305.112

General Director Financial Director Grigore Filip Doru Damaschin

(all amounts are stated in thousands lei unless specified otherwise) S.C. AEROSTAR S.A. INDIVIDUAL PRELIMINARY STATEMENT OF THE PROFIT OR LOSS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2015

	31.dec 2015	31.dec 2014
Revenues from sales	329.764	261.051
Other revenues	1.697	1.263
Revenues related to stocks of products and production in progress	7.710	5.758
Revenues from production of immobilizations	854	848
Total Revenues from Operations	340.025	268.920
Cheltuieli
Expenses with materials	(120.553)	(95.399)
Expenses with employees' benefits	(89.049)	(82.422)
Expenses with amortization of immobilizations	(12.477)	(11.009)
Influence of adjustments related to current assets	(7.428)	(1.521)
Influence of adjustments related to provisions	(16.238)	(27.329)
Expenses related to external services	(32.672)	(22.578)
Other expenses	(3.042)	(4.615)
Total Expenses with Operations	(281.459)	(244.873)
Profit from Operations	58.566	24.047
Financial Revenues	11.817	7.414
Financial Expenses	(10.829)	(6.460)
Financial Profit	988	954
Profit before tax	59.554	25.001
Tax on current profit and deferred	(7.286)	(5.257)
Net profit of the financial year	52.268	19.744

General Director Financial Director Grigore Filip Doru Damaschin

S.C. AEROSTAR S.A. BACAU Strada Condorilor nr. 9

NOTE

The Board of Directors of S.C. AEROSTAR S.A. BACAU intends to propose for the approval of the Ordinary General Meeting of Shareholders the distribution of the net profit of the year 2015 as follows:

Net profit of the financial year 2015	52.268.445,04 lei
- Distribution of reinvested profit legal reserve as	21.517.324,72 lei
- Distribution statutory reserve for working capital as	17.959.814.52 lei
- Distribution dividends as (gross dividend per share: 0.084 lei)	12.791.305,80 lei

PRESIDENT OF THE BOARD OF DIRECTORS & GENERAL DIRECTOR GRIGORE FILIP

VICEPRESIDENT OF THE BOARD OF DIRECTORS & FINANCIAL DIRECTOR DORU DAMASCHIN