LATECOERE : 2011 first quarter revenue in strong growth + 19.6% excluding non-recurring items
|In € million||Q1 2011||Q1 2010||Change|
|- Revenue excluding non-recurring items||63.9||57.1||+10.1%|
|- Non-recurring items||55.0||-|
|Engineering and Services||17.1||11.1||+53.6%|
|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.
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.
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
|Bertrand Parmentier / Executive VP & CFO
Tel. : +33 (0)5 61 58 77 00
|Corinne Puissant / Investor Relations
Tel. : +33 (0)1 53 67 36 57 - firstname.lastname@example.org
Anne-Catherine Bonjour / Media Relations
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