YTD revenue at September 30 up by 11.7% (excluding non-recurring items) FY 2012 expected operational margin revised at around 4% of consolidated revenue
H1
Q3
YTD at September 30
In € million
2012
2011
Change
(%)
2012
2011
Change
(%)
2012
2011
Change
(%)
Aerostructure
- Revenue exc. non-recurring items
163.7
147.8
+10.8%
68.6
63.2
+8.4%
232.3
211.0
+10.1%
- Non-recurring items
62.5
55.0
-
-
62.5
55.0
Interconnexion systems
86.0
75.9
+13.2%
39.1
31.4
+24.3%
125.0
107.3
+16.5%
Engineering & Services
40.6
37.5
+8.2%
18.8
17.2
+9.7%
59.4
54.7
+8.7%
Total revenue
352.8
316.3
+11.6 %
126.4
111.8
+13.1%
479.3
428.1
+12.0%
Revenue exc. non-recurring items
290.3
261.3
+11.1%
126.4
111.8
+13.1%
416.7
373.1
+11.7%
Growth in activity continues to be strong
For the 9 first months of 2012, the Group posted revenue, excluding non-recurring items, of €416.7 million, up +11.7% year on year. At a constant €/US$ exchange rate, organic growth stood at +7.85%; the hedging strategy implemented has allowed the Group to partially benefit of a year on year strengthening of US $ against Euro.
The Group recorded on the period an additional non-recurring revenue of €62.5 million corresponding to billing of development costs (refer to press release dated February 2, 2012). As a result, total consolidated revenue reached €479.3 million.
3rd quarter activity was up +13.1% to €126.4 million, fuelled by strong delivery rates despite persisting tensions on the supply chain.
Based on the latest delivery rates released by aircraft manufacturers, the Group reassesses around 9% its FY 2012 revenue growth (both for total revenue and revenue excluding non-recurring items), which was previously expected around 10%.
October disturbed by Tunisian events
Interconnexion Systems were affected in October by movements disrupting Tunisian production on social tensions background; industrial solutions securing the schedule of deliveries to customers were immediately implemented, generating temporary overruns. The production activity is gradually resuming in Tunisia. This episode will weigh on the operating margin of the Group previously expected closed to 8% of consolidated sales for FY 2012, and which is now projected at around 4%, taking into account an exceptional provision based on a scenario assuming a return to normal situation in 2013.
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 June 30, 2012 its order book stood at €2.2 billion (based on a USD/EUR exchange rate of 1.25).
Latécoère, a French corporation (société anonyme) with capital of €18,621,608 divided into 9,310,804 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 / Executive VP & CFO
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
Communiqués au titre de l'obligation d'information permanente :
- Communiqué sur comptes, résultats, chiffres d'affaires
Communiqué intégral et original au format PDF :
http://www.actusnews.com/documents_communiques/ACTUS-0-29871-latecoere---ca-t3-2012-v-uk-vd.pdf
<!-- 90 -->
© 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