Brief: Latecoere FY Group Net Loss Narrows To EUR 112.4 Mln

Latecoere SA

16/03/2022 18:16

March 16 (Reuters) - Latecoere SA  LAEP.PA :
    * LATÉCOÈRE ANNOUNCES ITS 2021 ANNUAL RESULTS
    * FY RECURRING EBITDA FOR FISCAL YEAR 2021 IMPROVED TO €
-31.2
MILLION (+13% VERSUS. COMPARED TO 2020) DESPITE LOWER SALES
    * FY 2021 REVENUES STAND AT €379.8 MILLION (-8% VERSUS
FY2020)
    * TOP MANAGEMENT TEAM STRENGTHENED – WITH THIERRY MOOTZ AS
GROUP
CEO AND PHILIPPE SALATS AS GROUP CFO
    * STRONG IMPROVEMENT IN RECURRING EBITDA EXPECTED IN FY 2022
DRIVEN BY FULL IMPACT OF COST SAVINGS, INCREASED BUILD RATES AND
M&A
    * FY GROUP NET INCOME AMOUNTED TO €-112.4 MILLION COMPARED
TO
€-198.7 MILLION IN 2020
    * FY 2022 OUTLOOK : DOUBLE DIGIT GROWTH OF REVENUES
    * HAS CONTINUED TO FURTHER ADJUST ITS COST BASE AND
INDUSTRIAL
FOOTPRINT TO ENSURE ITS LONG-TERM SUSTAINABILITY
    * END-FY NET DEBT WAS €65.1 MILLION
    * AT THE END OF DECEMBER 2021, CASH AND CASH EQUIVALENT
STOOD AT
€277.6 MILLION
    * OUTLOOK 2022: OPERATING FREE CASH FLOW WILL BE IMPACTED BY
THE
REMAINING COSTS OF RESTRUCTURING, THE INCREASED WORKING CAPITAL
DUE TO SALES GROWTH AND BY KEY CAPEX TO STRENGTHEN LATÉCOÈRE’S
COMPETITIVE POSITION

Source text for Eikon:  ID:nNDL9bBFVh 
Further company coverage:  LAEP.PA 

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