Aerospace equipment manufacturer Latecoere reports net income for the first half of 2023 of -58.2 million euros, compared with -27.3 million a year earlier, with recurring EBITDA up from -5.2 to -18.4 million year-on-year.

This reduction reflects inflationary pressures on material costs and supply chain disruptions, while sales rose by 42.9% to 303.8 million (+15.2% organic) with higher production rates.

In terms of outlook, Latecoere is targeting an increase in sales of around 35% on a reported basis for the full year, as well as a reduction in EBITDA losses during the second half of 2023.

'Free cash flow will be affected by the remaining costs of restructuring, by the increase in working capital due to sales growth, and by key investments aimed at strengthening the competitive position', it warns.

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