Latécoère: half-year losses 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 first-half loss while maintaining its full-year outlook.


At around 9:20 a.m., the doors and fuselage manufacturer's shares were up by 2.2%, after having gained up to 3% at the start of the session, 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 year-to-date decline is still 41%.

In a press release, 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 352.1 million euros in the first six months of the year.

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 the first half of 2024 stands at 1.8 million euros, compared with a shortfall of 17.6 million euros for the first half of 2023.

With regard to 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 free cash flow.

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