Aerostar S.A.

Annual / Quarterly Financial Statement • Feb 26, 2021

Year 2020 in key figures

$\mathbf{r}$

	UM	31.12.2020	31.12.2019	31.12.2018
Registered capital	thousand lei	48.729	48.729	48.729
Turnover	thousand lei	294.839	399.210	353.413
Export sales	thousand lei	200.341	314.399	267.382
The effective number of personnel Gross profit	no.	1.807	1.958	1.969
Net profit	thousand lei	42.059	75.106	87.420
$Cash - flow$	thousand lei	38.443	65.979	79.921
General liquidity	thousand lei	202.660	207.362	167.545
		14,89	8,24	9,71
Expenses for investments from company sources	thousand lei	46.586	35.285	28.798

General Director, PARASTARS

LEZOOR

$\mathbf{1}$

'AEROSTAR' SHARES (ARS)

The main caracteristics of the real estate values issued: 152.277.450 shares, nominative, ordinary, of equal value, paid integrally, issued in dematerialized form and highlighted by registration in the Register of Shareholders.

This is managed by the S.C. Depozitarul Central S.A. Bucuresti.

The issuer AEROSTAR S.A. Bacau is registeres with the following data: Individual Identification Number 950531, ISIN ROAEROACNOR5 code, ARS stock exchange symbol, the issued shares being all in the standard category.

	VGETT 2020	vear 2019	Vent 2018
Number of shares	152.277.450	152.277.450	152.277.450
Nominal value per share (lei)	0,32	0,32	0,32
Price at the end of the year (lei)	4,28	5,35	4,85
Stock exchange capitalization (1ei)	651.747.486	814.684.358	738.545.633
Maximum price (lei)	5,70	5,35	5,36
Minimum price (lei)	3,00	4,78	4,65
Result per share (lei)	$0,252^*$	0,433	0,525

*) Preliminary

FINANCIAL PERFORMANCE (thousand lei)

	31.12.2020	31.12.2019	31.12.2018
Total revenues	326.276	420.064	379.051
Total expenses	284.217	344.958	291.631
Gross Profit	42.059	75,106	87.420

FINANCIAL POSITION (thousand lei)

31.12.2020		31.12.2018
190.422	168.023	156.876
339.689	372.879	318.289
48.729	48.729	48.729
380.370	363.332	315.139
43,993	64.917	48.872
		31.12.2019

AEROSTAR S.A. BACAU Preliminary financial results of the year 2020

Commercial aspects in the business of 2020

In year 2020 AEROSTAR had sales in the amount of 294.839 thousand lei, from which 200. 341 thousand lei were export sales.

Aerostar sales are realised on a global market of large geographical extent both in the civil and defence field.

Comparative evolution of the sales on products and servicies:

AEROSTAR S.A. BACAU

Preliminary financial results of the year 2020

PRELIMINARY INDIVIDUAL STATEMENT OF THE FINANCIAL POSITION FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2020

(unless specified otherwise, all amounts are stated in thousand lei))

	December 31 st ,	nousanu IVI II December 31 st ,
	2020	2019
ASSETS
Immobilized assets
Tangible immobilizations	180.923	157.545
Intangible immobilizations	663	888
Real estate immobilizations	6.995	7.681
Rights of use on assets under lease	1.789	1.765
Financial immobilizations	52	144
Total immobilizations Assets	190.422	168.023
Circulating assets
Inventories	96.918	86.866
Commercial receivables and other receivables	38.377	78.651
Receivables regarding current profit tax	1.734
Cash and cash equivalents	202.660	0 207.362
Total circulating assets	339.689	372.879
Receivable regarding tax on deferred profit	15.585
Expenses in advance	1.356	13.984
Total assets	547.052	1.429
COMPANY CAPITALS AND DEBTS		556.315
Capital and reserves
Share capital
Current result	48.729	48.729
Result carried forward	38.443	65.979
Reserves	51.214 270.214	58.931
Debts/Receivables regarding tax on deferred profit		215.507
recognize on the account of company capitals	(16.148)	(14.140)
Distribution of profit for legal reserve	(12.082)
Total company capitals	380.370	(11.674) 363.332
In advance revenues
Subsidies for investments	5.893	7.935
Revenues registered in advance	1.155	1.112
Total in advance revenues	7.048	9.047
Long-term debts
Debts regarding deferred income tax	18.850	17.316
Other long-term debts	2.335	2.375
Total long-term debts	21.185	19.691
Long-term provisions	86.747	97.451
Current debts
Commercial debts	12.060	26.769
Debts with current income tax	0	2.446
Other current debts	10.748	16.011
Total current debts	22.808	45.226
Short-term provisions	28.894	21.568
Total provisions	115.641	119.019
Total debts	43.993	64.917
Total company capitals, income in advance, debts
and provisions GOSTA	547.052	556.315

General Director, Grigore Filip

COMERC

รับรอย

Financial Director, Doru Damaschin

alle

PRELIMINARY INDIVIDUAL STATEMENT OF PROFIT OR LOSS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2020 (unless specified otherwise, all amounts are stated in thousand lei))

	31 December 2020	31 December 2019
Revenues from sale	294.839	399.210
Other revenues	2.789	3.346
Revenues related to the inventories of products
and production in progress	14.921	6.593
Revenues from production of imobilizations	1.865	988
Income from operating subsidies	1.994	263
Total revenues from operations	316.408	410.400
Expenses
Material expenses	(96.843)	(132.512)
Expenses with employee benefits	(117.702)	(126.473)
Expenses with amortization of immobilizations	(25.018)	(25.975)
Influence of adjustments on circulating assets	(9.814)	(13.749)
Influence of adjustments on provisions	3.389	(6.198)
Expenses related to third party services	(27.912)	(30.098)
Other expenses	(4.159)	(5.455)
Total Expenses for Operations	(278.059)	(340.460)
Profit from Operations	38.349	69.940
Financial income	9.868	9.664
Financial expenses	(6.158)	(4.498)
Financial profit	3.710	5.166
Profit before tax	42.059	75.106
Tax on current and deferred profit	(3.616)	(9.127)
Net profit of the financial year	38.443	65.979

AND ACTIONS AR & General/Director, Grigore Filip ELEVATOR

Financial Director, Doru Damaschin alle

5

PRELIMINARY OTHER ELEMENTS OF THE GLOBAL RESULTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2020 (unless specified otherwise, all amounts are stated in thousand lei))

	31 December 2020	31 December 2019
Net profit of the financial year	38.443	65.979
Deferred income tax recognized on the account of company capitals according to OMFP 2844/2016	(1.609)	(1.337)
Non-distributed profit related to 2019	9
Other elements of global result	(1.600)	(1.337)
Total global result of the year	36.843	64.642

COMERCY W AEROSTAS General/Director, Grigore Filip AIV. 80C/C

Financial Director, Doru Damaschin

alle

AEROSTAR S.A. BACAU Preliminary financial results of the year 2020	capitals Total company		363.332	38.443	(1.609)	Ō			36.843		(19.796)	ම	(19.805)	380.370
	Result of the year		54.305	38.443	J.	(54.296)	(12.082)	(27.935)			$\widehat{e}$		ම	26.361
	Result carried forward		58.931		400	54.305 (8.126)		46.579		(34.500)	(19.796)		(54.296)	Financial Director, 51.214	Doru Damaschin
	Deferred income tax recognized on company	capitals (14.139)			(2.009)			(2.009)					(16.148)
	Reserves	215.506				8.126	12.082	20.208		34.500			34.500 270.214			7
PRELIMINARY INDIVIDUAL STATEMENT OF COMPANY CAPITALS MODIFICATIONS (unless specified otherwise, all amounts are stated in thousand lei)) FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2020	Share capital	48.729
													48.729	$c_{\rm p}$ ).	«gAC.»
		A. Balance on January 1st2020 Global result	The profit of the year	Other elements of global result	Distribution of profit for year 2019 on the destinations decided by the shareholders Deferred income tax recognized on the in AGOA from the April 21 $\mathrm{^{th}2020}$ account of the company capitals	Transfer to reserves of elements similar Distribution of profit from 2020 for the to taxed income from 2009-2020	legal reserves in gross amount	Total global result of the year 2020	Reserves distributed from the profit of the year 2019	Dividends paid from the profit of the year 2019	Non-distributed profit related to 2019 Transactions with the shareholders	directly recognized on company capitals	$31^{th}$ 2020 B. Balance on December General Director,	Ą. COMPRO Grigore Filip		CONTRACTOR AND RESIDENCE

PRELIMINARY INDIVIDUAL STATEMENT OF TREASURY CASH FLOW (direct method)
FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2020 (unless specified otherwise, all amounts are stated in thousand lei))

	December 31 th 2020	December 31 th
TREASURY CASH FLOWS FROM OPERATIONS		2019
received from customers
	340.107	415.076
taxes and excises recovered from State Budget collected subsidies from State Budget	9.879	8.687
payments to suppliers and employees	7.132	250
payment of taxes, contributions and dues to	(226.650)	(267.343)
State Budget	(64.810)
payment of profit tax		(55.289)
NET CASH FROM OPERATIONS	(9.445)	(11.967)
	56.231	89.164
TREASURY CASH FLOWS FROM
INVESTMENT ACTIVITIES
interest collected from bank deposits	4.519
collected dividends from affiliated companies	537	3.358
collected from sales of tangible		137
immobilizations	0	14
collected from financial immobilizations	125
payments for purchasing of tangible and		$\bf{0}$
intangible immobilizations	(46.251)	(37.711)
NET CASH USED IN INVESTMENT ACTIVITIES
	(41.070)	(34.202)
TREASURY CASH FLOWS FROM FINANCING ACTIVITIES
paid dividends but unclaimed, recovered gross dividends paid	0	99
NET CASH USED IN FINANCING	(18.952)	(15.918)
ACTIVITIES	(18.952)
Net increase of the cash and of cash		(15.819)
equivalents	(3.791)
Cash and cash equivalents at the beginning		39.143
of the year	207.362
Effect of the exchange rate variation over the		167.545
cash and cash equivalents	(911)	674
Cash and cash equivalents at the end of the
year	202.660	207.362

General/Director, Grigore Filip

A AEROS,

PAIN, 300

Financial Director, Doru Damaschin

ali