LATECOERE : Confirmed growth in 4th quarter revenue
|H1 2010||H2 2010||Total|
|In € million||2010||2009||Change||2010||2009||Change||2010||2009||Change|
|Wiring & Systems||69.8||77.9||-10.3%||78.0||70.6||+10.4%||147.8||148.4||-0.5%|
|Engineering & Services||23.9||18.6||+28.1%||33.9||21.3||+59.5%||57.8||39.9||+44.8%|
2010 revenue beats Group's most recent projections
Confirmed upturn in activity
In Q4 2010 the Group posted revenue of €144.9 million, up 25.6% year on year. At a constant €/$ exchange rates, organic growth stood at 20.2%.
This strong growth reflects the volume effects correlated to the pace of deliveries to aircraft manufacturers and percentage of completion billings on programs in development and tooling contracts.
The Group confirms the resurgence in activity observed since Q2 2010, with growth accelerating in H2. Latécoère finished the financial year ended December 31, 2010 with a 3.3 % increase in revenue (-0.2 % organic change), higher than the last estimates released.
|Quarterly change n/n-1
|2010 revenue : €464 m +3.3%|
2011 outlook: an expected revenue growth of over 10 %
Based on the latest delivery rates released by aircraft manufacturers, the Group confirms that it is expecting sales growth to be higher in 2011 than in 2010, with revenue growth of over 10%, including non recurring billings of development costs.
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 more than four 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. Onboard Wiring and 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
|GROUPE LATECOERE||ACTUS FINANCE|
|Bertrand Parmentier / Managing Director & CFO
Tel.: 33 (0)5 61 58 77 00
|Corinne Puissant / Investor Relations
Tél. : 33 (0)1 53 67 36 57 - email@example.com
Caroline Guilhaume / Media Relations
Tel. : 33 (0)1 53 67 35 79 - firstname.lastname@example.org
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