- €493.4 million in revenue for the first nine months of 2017
- Revised guidance for 2017 full-year revenue
|H1||Q3||As at September, 30|
|(In € million)||2017||2016(1)||Change (%)||2017||2016(1)||Change (%)||2017||2016(1)||Change (%)|
1 Following the disposal of Latécoère Services, and in accordance with IFRS 5, revenues for 2016 have been restated to exclude activities that have been sold.
2 Revenues for Equipment & Systems are now assigned to the Interconnection Systems division.
Latécoère revenue stood at €493.4 million on 30 September 2017, decreasing 0.8% in reported figures on the same period in 2016 as a result of a less positive currency effect linked to EUR/USD hedges during the third quarter. At constant exchange rates, Latécoère's revenue decreased by 1.8% over nine months, which is better than the forecast announced early 2017.
The decrease in Aerostructures division revenue, down 2.8% in reported figures and 3.8% at constant exchange rates, primarily reflects the slowdown in production on various programs (A380, Embraer E1 and Falcon 7X/8X), which was partially offset by the increase in volumes for the A320 and B787.
The Interconnection Systems division enjoyed an upturn in activity of 2.7% in reported figures and 1.8% at constant exchange rates. The effects of the most recent acceleration of the A350 program were partially offset by lower volumes for the A380, the 7X/8X and the ATR regional jets.
The first invoices linked to the new EWIS and cabin contracts won at the beginning of the year were issued during the third quarter.
As part of the Transformation 2020 plan and following the start of construction for its smart factory in Toulouse-Montredon, work has also begun at Latécoère's new production site in Bulgaria.
Furthermore, now that the application for the building permit for the new head offices in Toulouse has been filed, once all of the administrative formalities are complete, it will be possible to dispose of part of the Périole site in 2018.
Revised guidance for 2017 full-year revenue
Latécoère has refined its 2017 forecast and now expects a slight downturn in yearly revenue of 1% to 3% at constant exchange rates (compared with the 6% drop initially forecasted). Adjusted recurring operating income is still expected to improve and free cash flow from operations is expected to be positive.
Next publication: 2017 revenues on 7 February 2018 (after the stock exchange closes)
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 (65% of total revenue): fuselage sections and doors.
- Interconnection Systems (35% of total revenue): onboard wiring, electrical harnesses and avionics bays.
At 31 December 2016, Latécoère employed 4,338 people in 8 different countries.
Latécoère, a French corporation (société anonyme) with capital of €188,398,504 divided into 94,199,252 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
Sebastien Rouge / Chief Financial Officer
Tel.: +33 (0)5 61 58 77 00
|ACTUS finance & communication
Corinne Puissant / Investor Relations
Tel.: +33 (0)1 53 67 36 77 - email@example.com
Anne-Catherine Bonjour / Media Relations
Tel.: +33 (0)1 53 67 36 93 - firstname.lastname@example.org