Brief: Latecoere Confirms 2019 Outlook

Latecoere SA

06/03/2019 06:20

March 6 (Reuters) - LATECOERE  LAEP.PA :
    * THE 2019 OUTLOOK IS CONFIRMED
    * FY RECURRING OPERATING PROFIT EUR  28.0 MILLION VERSUS EUR 51.9 (RESTATED) MILLION YEAR
AGO
    * FY NET RESULT EUR 6.0 MILLION VERSUS EUR 33.8 MILLION YEAR AGO
    * GROUP’S 2018 OPERATING FREE CASH FLOW WAS € (35.2) MILLION
    * FY CURRENT EBITDA EUR 54.5 MILLION VERSUS EUR 78.4 MILLION(RESTATED) YEAR AGO
    * CO MADE SIGNIFICANT STEPS TOWARDS THE FULFILMENT OF ITS TRANSFORMATION 2020 PLAN BY
FINALISING
SEVERAL KEY MILESTONES IN FRANCE, INDIA AND BULGARIA
    * TRANSFORMATION 2020 UPDATE: EXPANSION OF THE BULGARIAN SITE HAS BEEN CONFIRMED AND WILL BE
COMPLETED IN 2019.
    * THE IMPACT OF THE A380 PROGRAM TERMINATION HAS BEEN RECOGNISED IN THE 2018 FINANCIAL
RESULTS
    * FOLLOWING AIRBUS’ ANNOUNCEMENT TO DISCONTINUE A380 PRODUCTION IN 2021, EUR 12.6 MLN
NON-CASH
LOSS IMPACTED CO'S 2018 OPERATING INCOME
    * ON A380: A EUR 16.7 MLN FINANCIAL PROFIT RELATED TO REFUNDABLE ADVANCES WAS RECOGNIZED IN
2018
    * SIGNIFICANT INVESTMENTS IN ITS OPERATIONS WILL CONTINUE IN 2019
    * OPERATIONAL ISSUES CREATED BY NEEDING TO QUICKLY REPLACE MAJOR SUPPLIER WERE OVERCOME IN
Q4 2018

Source text: https://bit.ly/2HnSxZ9
Further company coverage:  LAEP.PA 

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