Business
Latecoere Reports 2025 Full Year Results
TOULOUSE, France, April 07, 2026--Regulatory News: Latecoere (Paris:LAT), a Tier 1 supplier to major international aircraft manufacturers, announced that the Board of Directors approved Latecoere’s financial statements for the year ended December 31, 2025.
About this update from Latecoere Sa
TOULOUSE, France, April 07, 2026 --( BUSINESS WIRE )--Regulatory News: Latecoere (Paris:LAT), a Tier 1 supplier to major international aircraft manufacturers, announced that the Board of Directors approved Latecoere’s financial statements for the year ended December 31, 2025. André-Hubert Roussel, Group Chief Executive Officer, stated : " Our 2025 results mark a decisive step forward for Latecoere. With strong revenue growth, significant improvement in recurring EBITDA, and a return to positive operating cash flow, we are beginning to see the tangible impact of the actions we initiated to support OEM ramp‑ups, strengthen our customer service and aftermarket activities, and reinforce our operational and financial discipline. These achievements reflect the commitment of our teams and the trust of our customers in a demanding and fast‑evolving aerospace environment. Thanks to the divestment of MADES and improved operational performance, we have been able to reduce our net indebtedness and consequently strengthen our balance sheet as we move into 2026. Looking ahead, Latecoere will build on its core strengths and will reinforce its ambition to be the long‑term partner of choice for OEMs, MROs, and airlines worldwide, and will reflect this in our strategic roadmap. The progress achieved in 2025 gives us the momentum and confidence to execute this strategy with discipline. As we move into 2026, we will continue strengthening the foundations that underpin our long‑term performance – deploying best‑in‑class standards, accelerating digital and operational excellence, and advancing the efficiency and innovation of our production processes while monitoring carefully liquidity and key operating metrics of the Group. These efforts position us to build a more resilient and efficient Group, fully prepared to seize future opportunities and deliver sustainable value to all our stakeholders." 2025 Full year Results Latecoere’s unaudited financial results for the year ended December 31, 2025, reflects the general increased level of production in the aeronautical sector as a whole. Revenues amounted to €756.7 million, up €50.9 million or +7.2% on a reported basis. Underlying revenue growth was 9.7%, excluding the effects of the disposal of MADES in August 2025. This underlying increase in revenues was driven by higher production rates from OEMs, additional revenue from new business wins and the conclusion of commercial initiatives to offset inflation. The Group reported a recurring EBITDA for 2025 of €39.4 million, a 53% improvement compared to the €25,7 million reported in 2024. This was mainly driven by the continued operating leverage from increased volumes, and the positive benefits coming from both operational and commercial initiatives undertaken by the Group. These positive benefits are still being partly offset by continued inflationary pressures and ongoing supply chain disruptions during the ramp up of the operations. Latecoere’s net financial result amounted to €(25.9) million in 2025, compared with €(14.8) million in 2024, reflecting net interest cost on the PGE loans and other indebtedness outstanding during the year and higher unrealised exchange losses on foreign currency denominated debt. The Group’s net result for 2025 amounted to €(32.1) million, compared with €(60.6) million for 2024. Operating free cash flow from continuing operations amounting to €10.5 million primarily reflects: At the end of 2025, cash and cash equivalent stood at €56.7 million. The net debt at the end of December 2025 stood at €151.3 million (excluding the Retour a Meilleur fortune (‘RMF’) obligation of €7.2 million). As of December 2025, the hedging portfolio amounted to $656 million at an average EUR/USD rate of 1.1644. Since December 31, 2025, the Group has continued to put in place hedges for 2026 to 2027 at attractive terms. Aerostructures Revenue for Latecoere’s Aerostructures Division increased by +10.4% on a reported basis vs 2024. The segment’s activity benefited from increased production rates and the benefit of commercial initiatives concluded in late 2024 plus growth in our aftermarket / spares business. The division’s recurring EBITDA amounted to €12.9 million, representing a significant growth from the €(1.8) million loss reported in the prior year. This reflects the operating leverage from the volume increase, tight costs control, and better commercial terms and conditions achieved with customers plus growth in our Latecoere Services business (aftermarket / spares). The division’s operating free cash-flows amounted to €(2.1) million, a significant improvement over prior year reflecting the improving EBITDA and working capital reduction. Interconnection Systems Revenues of €292.2 million a growth of 1% compared with 2024 on a reported basis. Underlying growth, taking into account the effect of the disposal of MADES in August 2025, is approximate 7%. This underlying performance reflects growth in both European and American programs plus growth in our Latecoere Services business (aftermarket / spares business). Recurring EBITDA for the Interconnection Systems division reached €26.5 million, a reported decline of €1.0 million from €27.5 million from the prior year. Removing the effect of the MADES disposal, the underlying recurring EBITDA grew by €1.5 million or c.6%, reflecting tight costs control, and better commercial terms and conditions achieved with customers plus growth in our aftermarket / spares business. The division’s operating free cash-flows from continuing operations amounted to €12.6 million, improving by €8.1 million compared to 2024. This improvement primarily reflects the stronger underlying EBITDA. New Segmental reporting On July 1, 2025, the group formalized a transformation towards a more integrated and customer-centric organization. The new structure moves from a product-oriented structure to an integrated matrix model, combining the product approach and the geographical approach and where regions focus on serial production of Aerostructures and Interconnection Systems activities for OEMs according to customer location. Latecoere Services presents a global offering with two platforms to serve its customers: Burlington Canada for US customers and Toulouse for other customers worldwide. These organizations now form the backbone of the Latecoere group. In accordance with IFRS, the Group applied this new segment structure prospectively, starting with the annual consolidated financial statements for the year ended December 31, 2025. Therefore, the Group's historically defined business segments will be modified to reflect the Group's new organizational structure. The Group will operate through the following four activities: Aerostructures, Interconnection systems, Latecoere Services and Space, but only segmentally report Aerostructures, Interconnection System and Latecoere Services , as the Space business does not individually exceed any of the thresholds defined by IFRS. For the year ending December 31, 2025 the Group’s new segments reported the following results: 2026 Outlook Inflationary pressures and challenges arising from operating within a constrained aerospace supply chain will continue in 2026. OEM volume growth for commercial, business jet and defense market sub-segments continues to improve overall revenue, but the ramp-up in activity results in challenges and cost pressures for the whole industry. To alleviate these challenges, Latecoere continues to invest in its operating platform, people and geographic footprint, creating a more resilient business model better positioned to grow with customer requirements and it will continue to monitor its liquidity and key operating metrics very closely. We expect to see further improvements in profitability and cash flow resulting from increased volumes and the focus on improving operational efficiency across all parts of the business. We are also convinced that the business is well positioned to capitalise on the continuing, strong market demand for civil, military and space products and from the strong prospects for our customer services and after-market business. Latecoere's outlook for FY 2026 includes: Significant Events in the Period On April 4 th , 2025, the company announced the disposal of Malaga Aerospace, Defense and Electronics Systems (MADES) to Circa Group. This transition closed in August 2025. Post-closing events No material matters to report, although the Group continues to monitor the ongoing situation in Iran to assess the potential risks and opportunities arising from the economic impact of this crisis. About Latecoere As a Tier 1 partner to major industrial OEMs (Airbus, BAE Systems, Boeing, Bombardier, Dassault Aviation, Embraer, Honda Aircraft Company, Lockheed Martin, Thales), Latecoere pushes the boundaries of aerospace industrial excellence by leading and innovating towards a sustainable world. The Group operates across all segments of the industry (commercial, regional, business aviation, defense), throughout the entire product lifecycle, primarily in four business areas: At December 31, 2025, the Group employed 6,000 people in 13 countries. Latecoere is listed on Euronext Paris - Compartment B, ISIN Code: FR001400JY13 - Reuters: AEP.PA - Bloomberg: AT.FP Consolidated financial statements (IFRS) Consolidated Income statement Consolidated Balance sheet Consolidated cash flow statement View source version on businesswire.com: https://www.businesswire.com/news/home/20260406758510/en/ Contacts Thierry Mahé / Media Relations +33 (0)6 60 69 63 85 [email protected] Investor Relations [email protected]