Aircraft component manufacturer Romaero estimates a 23% increase in turnover for this year, up to 98.82 million RON, and zero profit after three consecutive years of losses. Last year, the company recorded a turnover of 80.22 million RON and losses of 45.02 million RON.
Romaero also aims to expand its contract with the American aircraft manufacturer Boeing.
“To improve the 2015 results, Romaero will implement the following measures: increasing operating income as an effect of growing the order portfolio by attracting new clients and developing work packages with existing clients; capitalizing on assets owned by Romaero through payment in kind and/or sale; making investments for re-technologization and debt rescheduling,” Romaero communicated.
Additionally, Romaero intends to increase deliveries for Boeing, Israel Aerospace Industries (IAI), and Novae.
Currently, the company has two ongoing contracts signed directly with the American giant Boeing, as well as with other companies that are direct suppliers to Boeing (Spirit Aerosystems UK, Cyclone) for which it produces primary parts specific to all types of Boeing aircraft, except for the 787 model.
Furthermore, Romaero produces parts for Airbus aircraft for two companies that are direct suppliers to Airbus, namely Aerolean (Novae Aerospace) and Sabca.
For this year, Romaero has planned investments of 11.6 million EUR, of which 1.06 million EUR are from its own sources, for the acquisition of new machinery, as the existing equipment and machines at Romaero are prototypes made in Romania in the 1980s and are physically and technologically obsolete.
Source: Wall-Street
Frequently Asked Questions
What are Romaero’s financial targets for 2015?
Romaero aims for a 23% increase in turnover to 98.82 million RON and expects to reach a break-even point (zero profit) after years of losses.
Which major aircraft manufacturers does Romaero work with?
Romaero has contracts with Boeing and produces parts for Airbus through intermediate suppliers like Aerolean and Sabca.
How does Romaero plan to modernize its operations?
The company has planned investments of 11.6 million EUR to replace obsolete 1980s-era machinery with new equipment to improve production efficiency.