FIGEAC AÉRO (FR0011665280 – FGA:FP), a leading partner of major aerospace manufacturers, today announces the signing of two new contracts relating to civil single-aisle aircraft parts, for a total value of around €90 million.
Thomas Girard, Deputy General Manager of FIGEAC AÉRO, declares:
“We are very satisfied with these two new contracts. They consolidate our position on civil programs which spearhead the modernization of single-aisle fleets towards more fuel-efficient aircraft. These new agreements are perfectly aligned with the objectives of the PILOT 28 plan, demonstrating once again our ability to reconcile competitiveness of the offer and financial performance. »
AGREEMENTS RESULTING FROM LONG-TERM PARTNERSHIPS
Covering numerous references in both titanium and aluminum for the recent single-aisle programs of the Airbus A220 and the Boeing 737 MAX, these two contracts mobilize all of the Group’s businesses and involve several of its major sites in France and abroad. the foreigner. They also use a dedicated production organization, as well as optimized logistics thanks to strong proximity with customers. As such, they perfectly illustrate the competitiveness of the industrial tool deployed by FIGEAC AÉRO.
They are also the result of long-term partnerships established with major players in global civil aeronautics, combining extension of the contract duration, gain in market share and new references outsourced by the customer for the first time.
OPTIMIZED PERFORMANCE IN BOTH INDUSTRIAL AND FINANCIAL TERMS
The duration of the two contracts extends until 2032 and the production ramp-ups are respectively scheduled for the second half of 2024 and 2026.
With on the one hand, a dedicated workshop organized in production islands to optimize productivity, direct costs and Working Capital Requirement (WCR) and on the other hand, the combination of know-how and immediate proximity , the Group will implement an efficient industrial plan sized for growth, while optimizing the use of resources. FIGEAC AÉRO once again demonstrates its ability to strengthen the competitiveness of its offering and, at the same time, to optimize its financial performance, while respecting all the financial criteria set by the Group.
The total cumulative value of these 2 contracts is around €90 million, including approximately €40 million attributed to new references, extensions and extensions of allocated market shares.
ANOTHER MAJOR ADVANCE TOWARDS PILOT 28 OBJECTIVES
By 2028, the two agreements should generate an annual turnover of around €6 million, which constitutes a major step forward on the growth trajectory defined with the PILOT 28 plan.
Taking into account the latest contracts won in the civil aeronautics segment
[1]
the Group has already secured nearly 15% of its annual turnover target of €80 to €100 million from new business by 2028.
[2]
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About FIGEAC AÉRO
The FIGEAC AÉRO Group, a leading partner of major aeronautics 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, 2024, the Group achieved annual turnover of €397.2 million.
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FIGEAC AÉRO Jean-Claude Maillard Simon Derbanne |
NEWS finance & communication Corinne Powerful Manon Clairet |
Glossary
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Term/indicator |
Definition |
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Current EBITDA | Current operating income restated for net depreciation and provisions before breakdown of R&D costs capitalized by the Group by nature |
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Order book / backlog | Sum of orders received and to be received extrapolated over a period of 10 years from each contract and call for tenders won, based on the production rates communicated and then projected, and a EUR/USD parity of 1.12 |
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Organic | At constant exchange rates and perimeter |
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DIO | ( |
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Lever | Net debt ratio excluding non-interest bearing debt to current EBITDA |
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CAPEX | Capital Investments |
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ORNANE | Bonds with option to redeem in cash and/or in new and/or existing shares |
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Free Cash Flows | Net cash flows generated by activity, before cost of financial debt and taxes, less net cash flows linked to investment operations |
[1]
https://www.figeac-aero.com/fr/figeac-aero-rommage-3-nouveaux-marches-aupres-de-clients-nord-americains
[2]
Taking as a basis the lower limit of the new business objective, i.e. €80 million
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