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  LATECOERE company press release from 24/10/2018

  24/10/2018 - 18:00

BUSINESS REPORT AS AT 30 SEPTEMBER 2018


  • Return to growth in the third quarter of 2018
  • Revenues of €470.6 million for the first nine months of 2018
  • Ongoing growth in Interconnection Systems
  • 2018 outlook
  H1 Q3 30 September YTD
 (€m) 2018 20171  Change Like-for-like change 2018 20171  Change Like-
for-like change
2018 20171  Change Like-for-like change
Aerostructures 182.5 211.8 -13.8% -8.3% 87.5 92.4 -5.3% -6.2% 270.1 304.2 -11.2% -7.7%
Interconnection Systems 138.2 138.6 -0.3% +5.2% 62.2 53.7 +16.0% +13.8% 200.5 192.3 +4.2% +7.8%
Total revenues 320.8 350.4 -8.5% -2.9% 149.8 146.1 +2.5% +1.1% 470.6 496.5 -5.2% -1.6%

(1) restated for the application of IFRS 15, effective as of 1 January 2018

In line with Group expectations, Q3 2018 revenues increased 1.1% at constant exchange rates (2.5% as reported), mainly driven by the Interconnection Systems division which recorded 13.8% growth at constant exchange rates.
Group revenues amounted to €470.6 million for the nine months ended 30 September 2018, down 1.6% at constant exchange rates from the previous year.

Aerostructures nine-month revenues, down 7.7% at constant exchange rates, continued to reflect declining volumes in the Embraer E1 and Airbus A380 and A330 programs. Delivery volumes are increasing for the A320 and B787 programs, for which the Group supplies aircraft doors. 

The Interconnection Systems division posted growth of 7.8% at constant exchange rates, despite declining volumes in the A380 program. Business was boosted by the full impact of contracts won in 2017, including the MRJ contract with Mitsubishi Aircraft and contracts with cabin equipment suppliers.

New business

As part of its continued expansion into new markets, Latécoère Interconnection Systems was recently selected by Rolls Royce to supply harnesses for their Pearl engine designed for next-generation business jets.

Following the selection by Thales IFE, production started enabling the first delivery of an aircraft fitted by Thales and Latécoère in October 2018.

2018 outlook

The Aerostructures division is pursuing its plan to insource production of primary parts after the default of a supplier, which should allow the Group to post full-year revenues in line with the previous year (excluding currency effects).

Next release: 2018 revenues, 30 January 2019 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), specialising in two fields:

  • Aerostructures (61% of total revenue): fuselage sections and doors.
  • Interconnexion 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 €189,489,904 divided into 94,744,952 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