Latécoère (LAT) H1 2025 earnings summary

Executive summary

• Revenue grew by 6.4% year-over-year to €374.6 million, driven by higher production rates, OEM activity, and commercial initiatives to offset inflation.

• Recurring EBITDA improved to €22.3 million from a loss of €1.8 million in H1 2024, reflecting operational leverage, cost containment, and commercial initiatives.

• Net result was a loss of €6.8 million, a substantial improvement from the €49.9 million loss in H1 2024.

• The group finalized the sale of its MADES subsidiary to refocus on core aerostructures and interconnection activities.

• Continued investment in platform, workforce, and business model resilience to align with customer needs.

Financial highlights

• Revenue: €374.6 million (up 6.4% year-over-year).

• Recurring EBITDA: €22.3 million (margin 5.9%), up from €(1.8) million (margin -0.5%) in H1 2024.

• Net result: €(6.8) million vs. €(49.9) million in H1 2024.

• Operating cash flow: €(0.4) million, improved from €(40.9) million in H1 2024.

• Net debt: €182.0 million at June 30, 2025, reduced from €201.0 million at June 2024.

Outlook and guidance

• Inflation and supply chain constraints expected to persist through 2025.

• Anticipates further improvements in profitability and cash flow, with volume growth on major programs and continued operational efficiency.

• Full-year EBITDA growth expected, with cost savings from value creation programs and improved supply chain.

• Well positioned to capitalize on strong demand in civil, military, and space markets.