Financial information

Since March 2020, the Covid19 has caused a global economic crisis, with very significant GDP contractions in all countries, with a particular impact on the aerospace industry, which is highly dependent on the transportation of people and goods. This exceptional situation had a negative impact on the slowdown that the aeronautics industry had experienced in previous years.

As a result, Alestis' structures were adapted in 2020 to the new delivery and price schedules communicated by its main customers, which forced the company to adopt important savings and resource optimization measures. These measures were articulated in a Corporate Action Plan based on four main axes: internalization of workload, reduction of consumption and raw material costs, reduction of other operating expenses and early debt cancellation.

At a financial level, the company shows great strength and cash flow, with a cash balance of more than 48 million euros at the end of 2022.

Thanks to the implementation, throughout 2020, 2021 and 2022, of these measurements, and of the specific actions derived from them, the foundations were laid for significant improvements in the balance sheet and income statement in 2021 and 2022, which are expected to be maintained and improved in subsequent years.

These improvements can be seen, specifically, in the following situations:

Net book equity represents 11.2% of total assets (10.6% in 2021).

Operational funds is positive by approximately €M 76.6  (€M 81.8 in 2021).

Also at a financial level, the company shows great strength and cash flow, showing a cash balance at the end of 2022 of more than €48 million (€57 million in 2021), even considering the significant investment effort made in 2022 (cash flow from investing activities in the amount of €15.6 million).