A year of strong growth

2011 revenue (excluding non-recurring items)

up by 12.1%

Audited figures

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

H2 2011 revenue reached €259.3 million, up 4.8% versus H2 2010 which had itself posted a growth of 17.3%. The Group, which thus recorded its seventh consecutive quarter of growth, ended the year with total revenue, excluding non-recurring items, of €520.6 million, up 12.1% year on year, in line with its stated expectations.

At a constant €/$ exchange rates, organic growth stood at 14.1% ;  hedging unwinds limiting the effect of a -4.7% depreciation of the €/$ spot parity, which averaged 1.392 over 2011.

The Group also recorded in Q1 2011 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 FY 2011 consolidated revenue reached €575.6 million.

All divisions are benefiting from the upward cycle of the aeronautical industry, with a strong momentum of Engineering & Services recorded both in tooling and services;  Aerostructures, present on all segments of the market, capture the full effect of the recovery.

2012 outlook:  an expected revenue growth of 10 %

Based on the latest delivery rates released by aircraft manufacturers, the Group anticipates for 2012 a further growth of its activities with total revenue up by about 10%, excluding non-recurring billings of development costs.

As non-recurring billings of development costs should reach €60 million in 2012, total revenue growth is also expected to rise by about 10%.

Order book: over 4 years of revenues

As of December 31, 2011 and on the basis of a €/$ exchange rate of 1.35, the order book – which includes only firm orders announced by aircraft manufacturers – amounts to €2.2 billion. Favourably impacted by the recent orders recorded by its main clients, it represents more than 4 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 (59% of total revenue): fuselage sections and doors.


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


• Engineering and Services (14% of total revenue): design, stress analysis and definition of industrial products -  design, manufacturing & maintenance of tooling and special assemblies.

The Group employs 4,175 people, in 9 countries.

Latécoère had total consolidated revenues of €575.6 million in 2011 and as of December 31, 2011 its order book stood at €2.2 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

© Copyright Actusnews Wire

Recevez gratuitement par email les prochains communiqués de la société en vous inscrivant sur www.actusnews.com

Receive by email the next press releases of the company by registering on www.actusnews.com, it's free

Quelle: Actusnews