LATECOERE : 2013 Revenue: +6.9% - Order book in excess of 4 years of revenue
|(in € million)||H1||H2||Total Year|
|- Revenue excl. non-recurring items||210.5||204.3||3.0%||224.6||205.0||9.5%||435.0||409.4||6.3%|
|- Aerostructure Industrial||164.5||163.7||0.5%||175.6||162.3||8.1%||340.1||326.1||4.3%|
|- Aerostructure Services (*)||46.0||40.6||13.1%||49.0||42.7||14.7%||95.0||83.3||13.9%|
|- Non-recurring items||-||62.5||-||-||-||62.5|
|Revenue excl. non-recurring items||310.4||290.3||6.9%||310.7||290.7||6.9%||621.1||581.1||6.9%|
(*) Previously Engineering & Services
Sustained growth in activity
H2 2013 revenue reached €310.7 million, up 6.9% versus H2 2012.
The Group closes FY 2013 with a €621.1 million revenue, up 6.9% on a year on year basis (excluding non-recurring items). At a constant €/$ exchange rate, organic growth stood at +8.7%.
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 contributed to this growth both in Aerostructure (+13.9%) and within Interconnexion Systems, in a context of sustained production rates.
An order book which amounts to more than 4 years of revenue
Based on a €/US$ exchange rate of 1.35 and firm orders announced by aircraft manufacturers, the order book amounts to €2.58 billion as of 31 December 2013 up 22% compared to the order book recorded as of 31 December 2012 (€2.1 billion). It represents more than 4 years of revenue.
In addition to the orders recorded by the main aircraft manufacturers, the order book growth shows the strong momentum, both in Aerostructure activities, with the new Embraer contract for E-Jet E2 program doors (cf. press release on September 2nd, 2013), and Interconnection Systems.
As stated on November 4, 2013, the Latécoère Group Supervisory Board approved the appointment by its Chairman, Pierre Gadonneix, of Frédéric Michelland as new Chairman of Latécoère Management Board. His taking office has been effective on December 9, 2013.
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 (55% of total revenue): fuselage sections and doors.
- Aerostructure Services (15% of total revenue): design, stress analysis and definition of industrial products - design, manufacturing & maintenance of tooling and special assemblies
- Interconnexion Systems (30% of total revenue): onboard wiring, electrical harnesses and avionics bays.
The Group employed as of December 31, 2013 4,617 people, in 10 countries.
Latécoère had total consolidated revenue of €621.1 million in 2013 and as of December 31, 2013 its order book stood at €2.58 billion (based on a USD/EUR exchange rate of 1.35).
Latécoère, a French corporation (société anonyme) with capital of €23,017,186 divided into 11,508,593 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
|GROUPE LATECOERE||ACTUS FINANCE|
|Olivier Regnard / Chief Financial Officer
Tél. : 33 (0)5 61 58 77 00
|Corinne Puissant / Investor Relations
Tél. : 33 (0)1 53 67 36 57 - firstname.lastname@example.org
Anne-Catherine Bonjour / Media Relations
Tel. : 33(0)1 53 67 36 93 - email@example.com
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