LATECOERE : 2011 first quarter revenue in strong growth + 19.6% excluding non-recurring items

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In ¤ million Q1 2011 Q1  2010 Change
Aerostructures
- Revenue excluding non-recurring items 63.9 57.1 +10.1%
- Non-recurring items 55.0 -
Interconnexion systems 38.7 31.8 +21.6%
Engineering and Services 17.1 11.1 +53.6%
Total revenue 174.7 100.1
Revenue excluding non recurring items 119.7 100.1 +19.6 %

Sustained growth in activity further bolstered by non recurring billings of development costs

In Q1 2011, the Group posted a revenue, excluding non-recurring items, of ¤119.7million, up 19.6% year on year.  At a constant ¤/$ exchange rate, organic growth stood at 18.4%.

The Group recorded on the period an additional non recurring revenue of ¤55 million corresponding to billing of development costs (refer to press release dated March, 22 2011). As a result, total consolidated revenue reached ¤174.7 million.

All divisions recorded strong growth reflecting the cycle upturn and consistent with the overall expected 20 % growth over fiscal year 2011 communicated by the Group on March 22, 2011.

Order book

As of December 31, 2010 and on the basis of a ¤/$ exchange rate of 1.35, the order book - which includes only firm orders announced by aircraft manufacturers - amounted to ¤2.3 billion. On a constant ¤/$ exchange rate basis, it was 6.4% higher year on year, which represents close to 5 years of revenue, and demonstrates the relevance of the multi-client platform built by the Group, which is confirmed for all the major, determinant programs launched for commercial, regional and corporate aircraft in the medium and long term.

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 three fields:

Aerostructures (56% of total revenue): fuselage sections and doors. Interconnexion systems (32% of total revenue): onboard wiring, electrical harnesses and avionics bays. Engineering and Services (12% of total revenue): research, design and manufacturing of equipment.

The Group employs 3,700 people, in ten countries.
Latécoère had total consolidated revenues of ¤464 million in 2010 and as of December 31, 2010 its order book stood at ¤2.3 billion (based on a USD/EUR exchange rate of 1.35).
Latécoère, a French corporation (société anonyme) with capital of ¤17,219,994 divided into 8,609,997 shares with a par value of ¤2 per share is listed on Euronext Paris - Compartment C.

ISIN code: FR0000032278 - Reuters code: LAEP.PA - Bloomberg code: LAT.FP

CONTACTS

Groupe LATECOERE ACTUS
Bertrand Parmentier / Executive VP & CFO
Tel. : +33 (0)5 61 58 77 00
bertrand.parmentier@latecoere.fr
Corinne Puissant / Investor Relations
Tel. : +33 (0)1 53 67 36 57 - cpuissant@actus.fr
Anne-Catherine Bonjour / Media Relations
Tel. : +33 (0)1 53 67 36 93 - acbonjour@actus.fr
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