CASA Reports 1999 Financial Results

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CASA Reports 1999 Financial Results

Construcciones Aeronautics, S.A., Madrid, (CASA) reports profits for 1999 reached 13,454 million pesetas (Euro 81 M, US$84 M). Turnover increased to 202,049 million pesetas (Euro 1,214 M, US$1,281 M), a 20% growth over the previous year. 1999 contracts amounted to 240,914 million pesetas (Euro 1,448 M, US$1,512 M) resulting in a backlog of 626,113 million pesetas (Euro 3,763 M, US$3,930 M). These commercial achievements represent contracts higher than sales for the year. Total exports amounted to 185,001 million pesetas (Euro 1,112 M, US$1,173 M), representing 91.56 percent of overall billing. Total R&D expenditure during the year amounted to 26.404 million pesetas (16.86% over sales). The Space Division has entered the commercial operations phase of the Ariane 5 and supported the launch of nine Ariane 4’s during the past year. The Space Division has contracted development of the antenna for the satellites of the GNSS constellation.

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March 27, 2000

Andrews Space & Technology