AEROSPATIALE REPORTS 1999 PROFITS DOWN

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Aerospatiale Matra reported a net profit of 30 million euros (US$28.7 million) for 1999, down from 436 million euros (US$417.6 million) the previous year. Aerospatiale attributed the drop in net profit to an exceptional charge of 256 million euros (US$245 million) in 1999 for foreign exchange hedging operations and privatization costs. Operating profit in 1999 was 480 million euros (US$459.8 million), down slightly from 494 million euros (US$473 million) in 1998. Revenues for 1999 were 12.9 billion euros (US$12.4 billion), an increase of nearly 5 percent over 1998. Aerospatiale Matra, DaimlerChrysler's DASA and Spain's CASA have agreed to merge to form the European Aeronautic, Defense and Space Co. (EADS), a partnership expected to be completed later this year. Aerospatiale Matra was formed in 1998 after the merger between the former French government owned Aerospatiale SA and French Lagardere's aerospace division Matra Hautes Technologies.

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March 13, 2000

Andrews Space & Technology