Business
Latecoere Reports H1 2025 Results
TOULOUSE, France, September 24, 2025--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 six-month period ended June 30, 2025.
About this update from Latecoere Sa
TOULOUSE, France, September 24, 2025 --( 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 six-month period ended June 30, 2025. André-Hubert Roussel Group Chief Executive Officer, stated : "Thanks to the commitment of our employees and the continued support of our partners, I am pleased to report improving results in H1 2025. These results reflect our key priorities of serving OEM volume growth, the development and growth prospects of our customer service and after-market business, and our keen focus on our cost containment and cash optimization." H1 2025 Results Latecoere’s unaudited financial results for the half year ended 30 June 2025 reflect the general increased level of production in the aeronautical sector as a whole. Revenues amounted to €374.6 million, up €22.5 million or +6.4%. The 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 H1 2025 of €22.3 million, a significant improvement compared to the €(1.8) million reported in H1 2024. This turnaround 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 offset however by continued inflationary pressures on the material cost base and ongoing supply chain disruptions during the ramp up of the operations. Latecoere’s net financial result amounted to €(16.3) million in H1 2025, compared with €(9.4) million in H1 2024, reflecting net interest cost on the PGE loans and other indebtedness outstanding during the year and unrealised exchange losses on foreign currency denominated debt. The Group’s net result for H1 2025 amounted to €(6.8) million, compared with €(49.9) million for H1 2024. Operating free cash flow from continuing operations amounting to cash flow losses of €(0.4) million primarily reflects: At the end of H1 2025, cash and cash equivalent stood at €42.4 million (including €1.7 million held in MADES). The net debt at the end of June 2025 stood at €182.0 million (including the RMF obligation). As of June 2025, the hedging portfolio amounted to $541.8 million at an average EUR/USD rate of 1.1358. Since June 30, 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 +11,5% on a reported basis vs H1 2024. The segment’s activity benefited from increased production rates and the benefit of commercial initiatives concluded in 2024. The division’s recurring EBITDA amounted to €4.4 million, representing a significant turnaround from the €(13.2) million loss incurred in the prior year H1. This reflects the operating leverage from the volume increase, tight costs control, and better commercial terms and conditions achieved with customers. The division’s operating free cash-flows amounted to €(5.8) million, but offset by the improving EBITDA and working capital reduction. Interconnection Systems Revenues of €145.4 million were broadly flat on a reported basis compared with H1 2024. This reflects no growth in European programs and a small reduction in activity at Mades. Recurring EBITDA for the Interconnection Systems division reached €17.9 million, a growth from €11.4 million from the prior year H1, reflecting tight costs control, and better commercial terms and conditions achieved with customers. The division’s operating free cash-flows from continuing operations amounted to €(2.9) million, improving by +€2.7 million compared to 2024. This improvement primarily reflects the stronger EBITDA. H2 2025 Outlook Inflationary pressures and challenges arising from operating within a constrained aerospace supply chain will continue in the remainder of 2025. 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. 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 2025 includes: Significant Events in the Period On April 4 th , 2025, the company entered into a definitive agreement for the sale of Malaga Aerospace, Defense and Electronics Systems (MADES) to Cicor Group. Post-closing events The sale of MADES was completed on August 1 st , 2025 About Latecoere A Tier-1 partner to major aerospace manufacturers (Airbus, BAE Systems, Boeing, Bombardier, Dassault Aviation, Embraer, Honda Aircraft, Lockheed Martin, Thales), Latecoere serves aerospace with innovative solutions for 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: Latecoere operates close to its customers through facilities in 13 countries, organized into two regions: EMEA-Asia on one side, and the Americas on the other. In 2024, the Group employed more than 5,000 people and generated revenue of €705.8 million. Latecoere is listed on Euronext Paris – Compartment B ISIN Code: FR001400JY13 – Reuters: AEP.PA – Bloomberg: AT.FP www.latecoere.aero 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/20250924095047/en/ Contacts Media Relations Thierry Mahé, Group Communications Director +33 (0)6 60 69 63 85 [email protected] Investor Relations [email protected]