LATECOERE : H1 2013: Growth in activity +6.9% - Order book stood at 3.7 years of revenue

le
0
 (in ¤m) H1 2013 H1 2012 Change
 Aerostructures
- Revenue excl. non-recurring items

- Aerostructure Industrial
- Aerostructure Services (*)
- Non-recurring items
 
210.5
164.5
46.0
-
 
204.3
163.7
40.6
62.5
 
3.0%
0.5%
13.1%
 
 Interconnexion Systems 99.9 86.0 16.2%
 Total revenue
 Revenue excluding non-recurring items
310.4
310.4
352.8
290.3
 
6.9%

(*) previously Engineering & Services
 

Sustained growth in activity, in line with 2013 guidance

In H1 2013, the Group posted revenue of ¤310.4 million, up +6.9% year on year (excluding non-recurring items). At a constant ¤/$ exchange rate, organic growth stood at +7.6%.

The Group recalls that during Q1 2012, non-recurring revenue of ¤62.5 million corresponding to billing of development costs was recorded.

Services activities significantly contribute to this growth both in Aerostructure (+13.1%) and within Interconnexion Systems, in a context of intense production rates.

The evolution of the activity in H1 2013 is consistent with the overall expected 5% growth for 2013 communicated by the Group on March 27, 2013.
 

A good order book renewal, which stood at 3.7 years of revenue

As of 30 June 2013 and based on a ¤/US$ exchange rate of 1.35, the order book - which includes only firm orders announced by aircraft manufacturers - amounted to ¤2.24 billion up to 6.1% growth on H1 2013. It represents around 3.7 years of revenue.

The dynamics of the order book illustrates the relevance of the choice of programs where the Group is positioned (commercial, regional and business aircrafts) which have recorded excellent orders in H1 2013; it also reflects the growth of both Aerostructures and Interconnexion Systems activities in design and manufacturing services, which are developed in an end-to-end approach of customer relationship. 
 

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:

- Aerostructure Industrial (60% of total revenue): fuselage sections and doors.

- Aerostructure Services (13% of total revenue): design, stress analysis and definition of industrial products - design, manufacturing & maintenance of tooling and special assemblies

- Interconnexion Systems (27% of total revenue): onboard wiring, electrical harnesses and avionics bays.

The Group employed as of December 31, 2012 4,288 people, in 10 countries.

Latécoère had total consolidated revenues of ¤643.6 million in 2012 and as of June 30, 2013 its order book stood at ¤2.24 billion (based on a USD/EUR exchange rate of 1.35).

Latécoère, a French corporation (société anonyme) with capital of ¤18,650,132 divided into 9,325,066 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
Bertrand Parmentier / CEO
Tel.: +33 5 61 58 77 00
bertrand.parmentier@latecoere.fr
ACTUS
Corinne Puissant / Investor Relations
Tel.: +33 1 53 67 36 57 - cpuissant@actus.fr
Anne-Catherine Bonjour / Media Relations
Tel.: +33 6 53 67 36 93 - acbonjour@actus.fr
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