Latécoère : 2019, last year of transition
>2018 earnings in line with expectations - Yesterday evening, Latécoère reported 2018 results in line with our estimates. EBITDA came in at € 54.5m (Oddo BHF’s estimate: € 55m), i.e. a margin of 8.7%, down 360bp. This performance is attributable to: i/ the rollout of the Transformation 2020 plan (€ 16.7m), ii/ an unfavourable forex impact of -€ 6m iii/ pressure on prices for some programmes that have reached maturity (-€ 8.8m) and iv/ unforeseen costs triggered by the...Societe Industrielle d'Aviation Latecoere and its subsidiaries are engaged in the manufacture of parts and equipment for the aeronautic and space industries. Co.'s products are mainly divided into 2 sectors: Airframe Structure and Equipment & Systems. Airframe Structure: manufactures Fuselage and Wing Structure Elements such as tail cones, forward upper shells, side parts, front spar bulkheads, nose sections, passenger doors, flaps; Nacelle Structure Elements such as fan cowls, tail engine fan cowls, translating sleeves, thrust reverser beams. Equipment & Systems: manufactures on-board electric racks, harnesses, landscape video camera system, pilot control panels and battery charge limiters.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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