FIGEAC AERO: FIGEAC AERO EXTENDS ITS PARTNERSHIP WITH SAFRAN NACELLES ON THE A320neo / LEAP-1A NACELLES – 05/30/2023 at 18:00

• A historic agreement with a total value of nearly €140 million over a period of 10 years
  

• A long-term market mobilizing 2 major sites of the Group
  

• A structuring project, source of value creation for all stakeholders
  

• Strengthened Group confidence in achieving its 2025 objectives
  

FIGEAC AÉRO (FR0011665280 – FGA FP), a leading partner of major aerospace manufacturers, today announces the signing of a new agreement with Safran Nacelles, a world leader in the integration of aircraft nacelles, a value of approximately €140 million over 10 years. The agreement concerns the production in France and Morocco of thousands of high value-added metal parts for the nacelles of the Airbus A320neo, equipped with LEAP-1A engines.

Jean-Claude Maillard, Chairman and CEO of the FIGEAC AÉRO Group is delighted:

“We can be particularly proud of this historic new agreement, which strengthens our strategic position on the nacelles of the A320neo / LEAP-1A, a program experiencing strong growth.

Historic in terms of its amount, it is also historic in terms of the partnership logic that presided over each phase of the project. Thanks to the continued involvement of all the partners, including the Moroccan State, this agreement gives birth to a new industrial tool in Casablanca that is modern, competitive and creates value for all stakeholders.

A point that is all the more essential in the context of the current aeronautics market, where the ability to absorb ramp-ups for profitable growth is decisive. »

A historical customer of FIGEAC AÉRO, Safran Nacelles designs, integrates and provides support and after-sales service for aircraft nacelles. The company is a world leader in the market for commercial aircraft with more than 100 seats, business jets and regional aircraft. At the cutting edge of technology, Safran Nacelles offers the main aircraft manufacturers Airbus, COMAC, Dassault Aviation, Bombardier and Gulfstream nacelles that are ever more integrated into the engine, aerodynamic, light with advanced acoustic treatments in order to contribute to the reduction of CO emissions.

₂

and aircraft noise.

A real logic of partnership at the origin of the project

This major agreement marks a new key stage in the development of the long-term partnership between the 2 groups. The solid presence of FIGEAC AÉRO, a competitive offer marked by a successful initial industrialization, and its ability to continue to develop closer to its customer, place FIGEAC AÉRO at the heart of Safran Nacelles’ development strategy.

The agreement provides for a multi-site industrial plan, making it possible to support Safran Nacelles’ production rates: in France, with a significant share of production in Figeac, and in Morocco, in Casablanca, where around fifty qualified jobs will be created on a new production site, the construction of which has already begun.

Emmanuel Drouet, Safran Nacelles Purchasing Director, confirms:

“We are indeed very happy to combine our forces with those of FIGEAC AÉRO, in France and in Morocco. Although our partnership has existed for many years, this is a key stage in its development, which will enable us to consolidate and strengthen our respective industrial tools in markets with very high potential.

»

A historic contract, illustrating FIGEAC AÉRO’s new strategy

Extension of an existing contract, the total value of the contract represents an amount of nearly €140 million over a period of 10 years, ie additional revenue of approximately €80 million compared to the initial agreement. Benefiting from a secure supply, the first deliveries are planned during the 2

^th

half of the 2023/24 financial year.

This market allows FIGEAC AÉRO to duplicate its business model in Morocco based on the know-how of an industrial site of excellence located close to the customers, and thus to develop new capacities to locally produce complex parts of large scale, likely to intensify the Group’s growth.

Finally, balanced in its construction (with in particular, nearly 70% of the investments made with the assistance of Safran Nacelles and the Moroccan State), this agreement complies with all the new criteria relating to financial discipline put in place at the outcome of the health crisis. It thus reinforces the Group’s confidence in achieving its 2025 objectives.

Upcoming events

• June 19-25, 2023: International Aeronautics and Space Show, Paris-Le Bourget airport

• July 4, 2023: Annual results for the 2022/23 financial year (after market close)

ABOUT FIGEAC AERO

The FIGEAC AÉRO Group, a benchmark partner for major aerospace manufacturers, specializes in the production of structural parts in light alloys and hard metals, engine parts, landing gear and sub-assemblies. An international group, FIGEAC AÉRO is present in France, the United States, Morocco, Mexico, Romania and Tunisia. As of March 31, 2023, the Group achieved annual revenue of €341.4 million.

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