- A very positive start to the financial year with growth of +23%
- An expected ramp-up over the second half-year that confirms the revenue target of €340 million at 31 March 2017
The Figeac Aéro Group (ticker code: FIG), a leading partner of major aerospace industry companies, has today published its revenue figures for the first half of the financial year ended 31 March 2017.
|In € millions – IFRS
|Revenue for the first half-year||118.9||146.1||+23%|
Business momentum in line with the development plan
The Figeac Aéro Group saw a positive start to the 2016/17 financial year with growth of +23% (+24% at constant exchange rates) and consolidated revenue of €146.1million at 30 September 2016, perfectly in line with published targets.
The first half-year dynamic is essentially driven by the Aerostructures business (84% of total revenue), an increase of 27.4% to €123.3 million, and continues to take advantage of the ramp-up of the major aeronautical programmes.
An expected ramp-up over the second half-year
With a sound order book, the Group accelerates its growth dynamic over the second half-year 2016/2017. This second half-year begins at a sustained rhythm, with strong expected growth driven mainly by the Airbus A350 programme and the ramp-up of engine part deliveries for the LEAP programme, in which the Group won two Long Term Agreements worth $500 million and $40 million.
In line with its action plan for the current financial year (ending on 31 March 2017), the Group confirms its annual financial targets with expected record revenue growth of 35% to around €340 million and an ebitda margin of more than €78 million, which would be an historic level.
Backed by the success of its round of funding, the Group has committed itself to a far-reaching business development plan and to forging ahead with this growth drive. The March 2020 objectives are affirmed with revenue between €650 and €750 million, i.e. an almost three-fold increase in four years, and an EBITDA margin3 at current levels.
Upcoming release: 15 December 2016, first half-year 2016/2017 results (before the market opens)
ABOUT FIGEAC AERO
The FIGEAC AERO Group, a leading partner of major aerospace manufacturers, specialises in the production of light alloy and hard metal structural parts, engine parts, landing gear parts and sub-assemblies. An international group with over 2,200 employees, FIGEAC AERO operates in France, the United States, Morocco, Mexico and Tunisia. In the year ended 31 March 2016, it reported annual revenue of €252.3 million and its year-end order book stood at €3.9 billion.
Chief Executive Officer
Tél. : 05 65 34 52 52
|ACTUS Finance & Communication
Tél. : 01 53 67 36 77
Tél. : 01 53 67 36 73
 2016/17 revenue is calculated at the average monthly EUR/USD exchange rate of 1.1230 over the period and 2015/16 revenue is calculated at the average monthly EUR/USD exchange rate of 1.109 over the period.
 EBITDA = recurring operating income + depreciation and amortisation + provisions
 Based on a €/$ parity of 1.18