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  LATECOERE company press release from 24/04/2018

  24/04/2018 - 17:45

ACTIVITY AS OF MARCH 31, 2018


  • €156.3 million in revenue for the first three months of the year
  • Confirmation of the 2018 revenue outlook
  • Major contracts signed by the Interconnection Systems Division
  1st quarter
 
 (€ million) 2018 2017
Reported
2017
Restated1
Change (%) Like-for-like change(%)
 Aerostructures 86.8 102.1 102.1 -15.0% -8.1%
 Interconnection systems 69.5 70.5 72.5 -4.2% 2.6%
 Total revenues 156.3 172.6 174.6 -10.5% -3.6%

1 Restated for the application of IFRS15, effective on January 1, 2018

Latécoère first-quarter revenues amounted to €156.3 million, a decrease of 10.5% based on reported figures compared with the same period in 2017, due to the significant impact of the US dollar depreciation. At constant exchange rates, Latécoère reported a 3.6% decrease in revenues over the first three months of 2018, which will have no impact on the announced trends for the year.

The Aerostructures Division's revenues, down 8.1% at constant exchange rates (-15% based on reported figures), primarily reflect the slowdown in production on the A380 and Embraer E1 programs, more pronounced compared with the first quarter of 2017. The seasonality of A320 deliveries, and the decline in contract prices also contributed to the division's slowdown.

The Interconnection Systems Division reported a 2.6% increase in revenues at constant exchange rates (-4.2% based on reported figures). The decline in invoices for the A380 was largely offset by the contribution of the new contracts won in 2017, including Mitsubishi Aircraft's MRJ.

The Interconnection Systems Division has been awarded new contracts

Over the past few weeks, major contracts have been awarded by aircraft cabin equipment manufacturers, and by an aircraft manufacturer. These contracts represent incremental revenue volumes of around €25 million on a full-year basis.

Confirmation of the 2018 revenue outlook

Based on latest forecasts from aircraft manufacturers and boosted by new business development, 2018 Group revenues at constant exchange rates are expected to trend up.

Next release: H1 2018 revenues on 25 July 2018 (after market close)


About Latécoère

Latécoère is a tier 1 partner to major international aircraft manufacturers (Airbus, Embraer, Dassault, Boeing and Bombardier), in all segments of the aeronautical market (commercial, regional, corporate and military aircraft), specializing in two fields:

  • Aerostructures Industrial (61% of total revenue): fuselage sections and doors.
  • Interconnection Systems (39% of total revenue): onboard wiring, electrical harnesses and avionics bays.

At 31 December 2017, Latécoère employed 4,451 people in 10 different countries.

Latécoère, a French corporation (Société Anonyme) with capital of €188,789,804 divided into 94,394,902 shares with a par value of €2 per share, is listed on Euronext Paris - Compartment B. ISIN codes: FR0000032278 - Reuters: LAEP.PA - Bloomberg: LAT.FP


LATÉCOÈRE
Sebastien Rouge / Chief Financial Officer
Tel.: +33 (0)5 61 58 77 00
sebastien.rouge@latecoere.aero
 
 
ACTUS finance & communication
Corinne Puissant / Investor Relations
Tel.: +33 (0)1 53 67 36 77 - cpuissant@actus.fr
Anne-Catherine Bonjour / Media Relations
Tel.: +33 (0)1 53 67 36 93 - acbonjour@actus.fr