Latécoère Reports FY 2020 Revenue
January 28 2021 - 12:15AM
Business Wire
- FY 20 revenue of €413.2 million reflects negative Covid-19
impact
- H2 20 revenue of €88.2 million in Q3 and €93.1 million in
Q4
Regulatory News:
Latécoère (Paris:LAT) (“the Group”), a tier 1 partner to major
international aircraft carriers, today published revenue for the
twelve-month period ending December 31, 2020, including the
three-month periods ending September 31 and December 31
respectively.
Full Year
Unaudited data, in € millions
2020
2019
Change (%)
Organic growth (%)
Aerostructures
228.4
411.4
-44.5%
-43.1%
Interconnection Systems
184.8
301.7
-38.7%
-37.5%
Total Revenue
413.2
713.1
-42.1%
-40.7%
Group
The Aerospace industry was strongly impacted by the Covid-19
crisis in 2020. Since the trough reached in Q2, the Group’s
activity improved slightly in Q3 and Q4 but is still at very low
levels. The Group reported total revenues of €413.2 million for
full year 2020, representing a decline of -40.7% on an organic
basis compared to €713.1 in 2019 assuming constant currency
(USD/EUR @1.24).
Aerostructures
Full year revenue in the Aerostructures division declined -43%
year-over-year to €228.4 million on an organic basis from €411.4 in
2019. Third quarter revenues of €53.9 million represented a
decrease of -37.5% compared to €91.6 million for the same period a
year ago. Revenue for the fourth quarter was €51 million, declining
-50.5% from €104.5 million in the fourth quarter of 2019.
Interconnection Systems
Interconnection Systems full year revenue declined
year-over-year -37.5% on an organic basis to €184.8 million from
€301.7 million in 2019. The division had revenues totalling €34.2
million in the third quarter, down -47.7% from €70.4 million in the
year-ago quarter. Fourth quarter revenues of €42.1 million
represented a decline of -43% when compared to €74.9 million for
the same period in 2019.
Full Year 2020 Results – March 16, 2021
The Group will report its full year results on March 16, at
which time it will provide additional detail and information
regarding market dynamics and operational performance.
About Latécoère
As a "Tier 1" international partner of the world's major
aircraft manufacturers (Airbus, Boeing, Bombardier, Dassault,
Embraer and Mitsubishi Aircraft), Latécoère is active in all
segments of the aeronautics industry (commercial, regional,
business and military aircraft), in two areas of activity:
- Aerostructures (55% of turnover): fuselage sections and
doors.
- Interconnection Systems (45% of turnover): wiring, electrical
furniture and on-board equipment.
As of June 30, 2020, the Group employed 4,714 people in 13
different countries. Latécoère, a French limited company
capitalised at €189,637,036 divided into 94,818,518 shares with a
par value of €2, is listed on Euronext Paris - Compartment B, ISIN
Codes: FR0000032278 - Reuters: LAEP.PA - Bloomberg: LAT.FP
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version on businesswire.com: https://www.businesswire.com/news/home/20210127005866/en/
Taddeo Michael Henson / Investor Relations +44 (0) 7551
720441
Pierre-Jean Le Mauff / Media Relations +33 (0)7 77 78 58 67
teamlatecoere@taddeo.fr
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