Brief: Latecoere H1 Net Loss Shrinks To 27.3 Million Euros

Latecoere SA

20/09/2022 16:58

Sept 20 (Reuters) - Latecoere SA  LAEP.PA :
    * LATECOERE REPORTS H1 2022 RESULTS
    * STRONG REVENUE GROWTH IN THE FIRST HALF OF 2022 OF +33.8%
    * IMPROVEMENT IN RECURRING EBITDA OF €16.1 MILLION IN H1
2022
DESPITE INFLATION PRESSURE AND GLOBAL ADVERSE ECONOMIC SITUATION
    * 2022 OUTLOOK CONFIRMED, INCLUDING INCREASED TRADING
ACTIVITY AND
SIGNIFICANT IMPROVEMENT IN RECURRING EBITDA
    * LATECOERE IS ON TRACK TO DELIVER ON ITS M&A STRATEGY
    * WE ARE STARTING TO SEE THE RESULT OF OUR COST REDUCTION
PROGRAMS, THE OPTIMIZATION OF THE GROUP’S FOOTPRINT AS WELL AS
OUR COMMERCIAL EFFORTS, SUPPORTED BY AN INDUSTRY BACKDROP THAT
IS EXPERIENCING A RECOVERY IN DEMAND-CEO
    * H1 NET LOSS EUR 27.3 MILLION VERSUS LOSS EUR 56.6 MILLION
YEAR
AGO
    * H1 REVENUE EUR 242.3 MILLION VERSUS EUR 181.1 MILLION YEAR
AGO
    * AT JUNE 30, 2022, NET DEBT AMOUNTED TO €147.9 MILLION, AN
INCREASE OF €83.0 MILLION COMPARED TO DECEMBER 31, 2021
    * THE HEDGING PORTFOLIO AMOUNTED TO $570 MILLION AT JUNE 30,
2022
AT AN AVERAGE EUR/USD RATE OF 1.16
    * FREE CASH FLOW FROM OPERATIONS FOR THE PERIOD AMOUNTED TO
€
-75.5 MILLION
    * LATECOERE'S NET FINANCIAL INCOME AMOUNTED TO €(2.1)
MILLION IN
THE FIRST HALF OF 2022, COMPARED WITH €(15.6) MILLION IN THE
FIRST HALF OF 2021

Source text: https://bit.ly/3QZbdy8
Further company coverage:  LAEP.PA 

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