Last year, the aerospace supplier's recurring EBITDA from continuing operations rose to 39.4 million euros, up from 25.7 million euros a year earlier. This increase was driven by operating leverage from volume growth and the implementation of commercial measures to combat inflation. Consequently, the recurring EBITDA margin improved from 3.6% to 5.2%.
Meanwhile, the net financial result stood at -25.9 million euros, compared to -14.8 million euros the previous year, reflecting net interest charges on PGE loans and other outstanding debt during the year, as well as higher unrealized foreign exchange losses on foreign currency-denominated debt.
Ultimately, the group's net loss narrowed from 60.6 million to 32.1 million euros.
For the current fiscal year, the group expects inflationary pressures and challenges related to a constrained aerospace supply chain to persist. Specifically, volume growth from OEMs in the commercial aviation, business jet, and defense sub-segments will continue to support overall revenue. However, the ramp-up in activity is creating challenges and cost pressures across the industry. Latecoere anticipates further improvements in profitability and cash flow, driven by higher volumes and a focus on operational efficiency across all business lines.
Looking ahead to 2026, the group expects volume growth across most major programs, alongside continued inflation in bill-of-materials costs (components, raw materials, etc.) and labor. The company is also projected to see overall EBITDA growth and an improvement in free operating cash flow.
Latécoère specializes in the manufacturing and marketing of structures for the aeronautics sector. The group also produces systems and on-board cabling. Net sales break down by family of products as follows:
- aircraft structures (54.4%): primarily fuselage sections, emergency doors and exits;
- Interconnection systems (31%): cabling, avionics racks, on-board systems, test benches, etc. The group also offers electrical harnesses (world No. 2), sub-assemblies for satellites, launchers and space vehicles;
- services (14.6%): support, maintenance, repair, technical expertise and engineering services for aircraft manufacturers, equipment suppliers, aircraft maintenance companies and airlines.
Net sales break down by market as follows: civil (93.6%) and military (6.4%).
Net sales are distributed geographically as follows: Europe (56.8%), the Americas (41.4%), Asia (1.1%) and other (0.7%).
