Latécoère : Profit warning for 2019
>Three reasons for a major profit warning - Latécoère has issued a warning on its 2019 profits; it said in the conference call that earnings were expected to be more in line with those of 2018 (EBIT est. € 25m) than 2017 (EBIT of € 52m), as stated previously. 2019 FCF is now expected to be negative while the previous outlook was for a positive FCF. The three reasons, which are evenly split in terms of the financial impact, are (i) higher than expected start-up costs ...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.
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