Latécoère : Q4 2019 sales exceed expectations – Neutral vs Accept the offer
>Q4 2019 sales beat forecasts - Latécoère just reported its Q4 2019 sales, which came in well ahead of our estimate at € 179.4m (ODDO BHF: € 136m), down -4.9% reported and -3% organic. The gap with our estimate mainly stems from a better performance in the aerostructures division:In detail: ( The aerostructure division posted a -6.6% decline on an organic basis and -8.5% reported to € 104.5m, which was due to the fact that the increase in deliveries for 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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