Latécoère: H1 loss reduced, share price rises
(CercleFinance.com) - Latécoère shares were up by more than 2% on Tuesday morning on the Paris Bourse, after the aeronautical equipment manufacturer announced a sharply reduced H1 loss while maintaining its full-year outlook.
The doors and fuselage manufacturer's shares were up over 2%, after peaking up 3% at the start of trading, while the Paris Bourse was gaining around 0.4%.
This brings the share's rise over the past month to more than 19%, even though its YTD decline is still 41%.
Latécoère explained that it had benefited from the general rise in production levels throughout the aeronautical sector, which enabled it to increase sales by 16% to E352.1m in H1.
The increase in revenues was underpinned by higher production rates, additional income from new contracts won and the conclusion of commercial initiatives aimed at offsetting inflation, the group explains in particular.
As a result, its recurring operating loss (Ebitda) for H1 2024 stands at E1.8m, compared with a shortfall of E17.6m in H1 2023.
Regarding its outlook, Latécoère says it is 'optimistic' about 2024, forecasting increased sales growth, a significant reduction in its Ebitda loss and a marked improvement in FCF.
Copyright (c) 2024 CercleFinance.com. All rights reserved.
The doors and fuselage manufacturer's shares were up over 2%, after peaking up 3% at the start of trading, while the Paris Bourse was gaining around 0.4%.
This brings the share's rise over the past month to more than 19%, even though its YTD decline is still 41%.
Latécoère explained that it had benefited from the general rise in production levels throughout the aeronautical sector, which enabled it to increase sales by 16% to E352.1m in H1.
The increase in revenues was underpinned by higher production rates, additional income from new contracts won and the conclusion of commercial initiatives aimed at offsetting inflation, the group explains in particular.
As a result, its recurring operating loss (Ebitda) for H1 2024 stands at E1.8m, compared with a shortfall of E17.6m in H1 2023.
Regarding its outlook, Latécoère says it is 'optimistic' about 2024, forecasting increased sales growth, a significant reduction in its Ebitda loss and a marked improvement in FCF.
Copyright (c) 2024 CercleFinance.com. All rights reserved.