Aerostar S.A.

Earnings Release • Feb 15, 2018

Str. Condorilor nr.9, Bacau 600302; Inmatriculat cu nr: J04/1137/1991-R.C.Bacau; Cod Unic de Inregistrare: RO 950531; Capital social: 48.728.784 lei 70.1.20.1.30.101.75.070; Fax:+40234.5750203; 572259
Tel:+40234.575070; Fax:+40234.572023; 572259
e-mail:aerostar@aerostar.ro; Website:http//www.aerostar.ro

15.02.2018

PRESS RELEASE PRELIMINARY FINANCIAL RESULTS OF THE YEAR 2017

S.C. AEROSTAR S.A. BACAU reports the "Preliminary Financial Results of the year 2017".

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

The report comprises:

• Preliminary individual statement of the financial position for the financial year ended 31 December 2017
• Preliminary individual statement of profit or loss for the financial year ended ry 31 December 2017
• Preliminary proposal for the distribution of the profit made in 2017

The preliminary financial results are available on the company website www.aerostar.ro in the section Investors Relation, Subsection Periodic Reports- "Preliminary financial results of the year 2017", on the date of 15 February 2018, starting with 8:00 hours a.m.

PRESIDENT OF THE BOARD OF DIRECTORS. GRIGORE FILIP VICEPRESIDENT OF THE BOARD OF DIRECTORS. DORU DAMASCHIN

S.C. AEROSTAR S.A. PRELIMINARY INDIVIDUAL STATEMENT OF THE FINANCIAL POSITION FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2017 (all amounts are in thousands lei, unless specified otherwise)

ASSETS	31 December 2017	31 December 2016
Immobilized Assets
Tangible immobilizations
Intangible immobilizations	144.613	146.007
Real estate investments	1858	1.689
Financial immobilizations	6.987	6.499
Total immobilized assets	228	202
Circulating Assets	153.686	154.397
Inventories
Commercial receivables and other receivables	67.925	50.272
Cash and cash equivalents	46.640 163.886	42.749
Total circulating assets		163.153
Expenses in advance	278.451	256.174
Total Assets	491	521
COMPANY CAPITALS, DEBTS AND PROVISIONS	432.628	411.092
Capital and reserves
Registered capital
Current result	48.729	48.729
Result carried forward	53.170	56.472
Other reserves	57.524	56.331
Debts/Receivables related to tax on deferred profit	110.843	67.833
recognized on account of company capitals
Profit distribution for legal reserve	(7.961)	(6.362)
Total company capitals	(9.338)	(9.095)
Long term debts	252.967	213.908
Subsidies for investments	12.677	15.001
Revenues registered in advance	28	33
Debts regarding the tax on deferred profit Other debts	2.126	3.804
	51
Total long term debts	14.882	18.838
Long term provisions	75.825	71.448
Current debts
Commercial debts	29.515	37.472
Debts with tax on deferred profit	1.522	2.215
Other current debts	8.553	14.414
Total current debts	39.590	54.101
Short term provisions	49.364	52.797
Total provisions	125.189	124.245
Total debts	54.472	72.939
Total comparty capitals, debts and provisions	432.628
A.		411.092

Financial Director Doru Damaschip Fale

S.C. AEROSTAR S.A. PRELIMINARY INDIVIDUAL STATEMENT OF THE PROFIT OR LOSS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2017 (all amounts are in thousands lei, unless specified otherwise)

	31 December	31 December
	2017	2016
Revenues from Sales	340.172	356.219
Other revenues	3.632
Revenues related to inventories of finished products and		3.654 3.817
production in progress	10.420
Revenues from production of immobilizations	1.287
Total Revenues from Operations	355.511	1.603
Expenses		365.293
Expenses with materials	(128.002)
Expenses with benefits for employees	(108.629)	(126.222)
Expenses with amortization of immobilizations	(24.275)	(99.488)
Influence of adjustments related to current assets	1.337	(16.042)
Influence of adjustments related to provisions	(945)	(592)
Expenses related to external services	(30.629)	(13.549)
Other expenses	(4.228)	(40.957)
Total Expenses from Operations		(3.835)
Profit from Operations	(295.371)	(300.685)
	60.140	64.608
Financial Revenues	4.413
Financial Expenses		7.514
	(5.766)	(6.257)
Financial Profit or Loss
	(1.353)	1.257
Profit before tax	58.787	65.865
Tax on current profit deferred	(5.617)	(9.393)
Net profit of the year
$\mathbf{I}$	53.170	56.472

AERO, $\lambda$ General pirector REAGUESTS AND READWAY

Financial Director Doru Damaschin ture

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

PRELIMINARY DISTRIBUTION PROPOSAL FOR THE PROFIT MADE IN 2017

Net profit of the financial year 2017 53.169.633 lei • Allocations as legal reserve of the reinvested profit 9.337.716 lei • Allocations for statutory reserves 29.517.837 lei • Allocations as dividends 14.314.080 lei (gross dividend per share: 0,094 lei)

PRESIDENT Bob & GENERAL DIRECTOR, GRIGORE FILIP

VICEPRESIDENT BoD & FINANCIAL DIRECTOR DORU DAMASCHIN

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