Latécoère Reports FY 2020 Revenue

• FY 20 revenue of €413.2 million reflects negative Covid-19 impact
• H2 20 revenue of €88.2 million in Q3 and €93.1 million in Q4

TOULOUSE, France--(BUSINESS WIRE)--Regulatory News:

Latécoère (Paris:LAT) (“the Group”), a tier 1 partner to major international aircraft carriers, today published revenue for the twelve-month period ending December 31, 2020, including the three-month periods ending September 31 and December 31 respectively.

	Full Year
Unaudited data, in € millions	2020	2019	Change (%)	Organic growth (%)
Aerostructures	228.4	411.4	-44.5%	-43.1%
Interconnection Systems	184.8	301.7	-38.7%	-37.5%
Total Revenue	413.2	713.1	-42.1%	-40.7%

Group

The Aerospace industry was strongly impacted by the Covid-19 crisis in 2020. Since the trough reached in Q2, the Group’s activity improved slightly in Q3 and Q4 but is still at very low levels. The Group reported total revenues of €413.2 million for full year 2020, representing a decline of -40.7% on an organic basis compared to €713.1 in 2019 assuming constant currency (USD/EUR @1.24).

Aerostructures

Full year revenue in the Aerostructures division declined -43% year-over-year to €228.4 million on an organic basis from €411.4 in 2019. Third quarter revenues of €53.9 million represented a decrease of -37.5% compared to €91.6 million for the same period a year ago. Revenue for the fourth quarter was €51 million, declining -50.5% from €104.5 million in the fourth quarter of 2019.

Interconnection Systems

Interconnection Systems full year revenue declined year-over-year -37.5% on an organic basis to €184.8 million from €301.7 million in 2019. The division had revenues totalling €34.2 million in the third quarter, down -47.7% from €70.4 million in the year-ago quarter. Fourth quarter revenues of €42.1 million represented a decline of -43% when compared to €74.9 million for the same period in 2019.

Full Year 2020 Results – March 16, 2021

The Group will report its full year results on March 16, at which time it will provide additional detail and information regarding market dynamics and operational performance.

About Latécoère

As a "Tier 1" international partner of the world's major aircraft manufacturers (Airbus, Boeing, Bombardier, Dassault, Embraer and Mitsubishi Aircraft), Latécoère is active in all segments of the aeronautics industry (commercial, regional, business and military aircraft), in two areas of activity:

• Aerostructures (55% of turnover): fuselage sections and doors.
• Interconnection Systems (45% of turnover): wiring, electrical furniture and on-board equipment.

As of June 30, 2020, the Group employed 4,714 people in 13 different countries. Latécoère, a French limited company capitalised at €189,637,036 divided into 94,818,518 shares with a par value of €2, is listed on Euronext Paris - Compartment B, ISIN Codes: FR0000032278 - Reuters: LAEP.PA - Bloomberg: LAT.FP