DJ PILOT 28: FIGEAC AÉRO secures 3 new wins on the A320 airframe for 65 million euros
FIGEAC AÉRO
PILOT 28: FIGEAC AÉRO secures 3 new wins on the A320 airframe for 65 million euros
19-Sep-2024 / 17:52 CET/CEST
Dissemination of a French Regulatory News, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.
=----------------------------------------------------------------------------------------------------------------------
PILOT 28: Figeac aÉro secures 3 new wins on the A320 airframe for 65 million euros
FIGEAC AÉRO (FR0011665280 - FGA:FP), a leading partner for major aerospace manufacturers, today announces that it has
signed three new agreements with Airbus and another top-tier customer for a total amount of EUR65 million. These
contracts aim to further support increases in the A320 family production rates.
FIGEAC AÉRO's Expertise at the heart of the deals
Two of the agreements are signed with Airbus. They cover a wide array of structural titanium parts, included in work
packages destined to be fitted in the engine pylons of the A320 family aircraft. The third consists mainly of large
dimension aluminium parts for the same aircraft. All will heavily leverage FIGEAC AéRO's expertise in hard metal and
light alloys machining, which were developed early in the Group's history. This extensive know-how is notably
concentrated at the historical facilities in Figeac, France, where the majority of parts related to these contracts
will be manufactured.
The awarded parts result from a combination of capacity offloading, first-time outsourcing and a change of supplier.
With these new wins, FIGEAC AéRO greatly reinforces its strategic position in the production of the A320 airframe.
new business to support increases in the A320 production rate
With a projected rate of 75 aircraft per month by the year 2027 (vs an average of close to 48 deliveries per month in
2023), Airbus is engaged in the process of reinforcing supply chain capabilities for its flagship aircraft. Despite
post-COVID challenges impacting the industrial ecosystem, FIGEAC AéRO has managed to get industrial performance back to
quasi-normative levels. In parallel, the ambitious investment policy pursued by the Group in the last decade has
enabled it to offer production capacity that is immediately available. These two elements are key assets in supporting
the production ramp-up.
These three new agreements are therefore a perfect illustration of the growth opportunities afforded to performing
partners, in the current strive for higher production rates.
With a duration of five years, the contracts carry a total estimated value of EUR65 million and should generate annual
revenue of approximately EUR12.5 million at cruising speed. First deliveries are expected to start during the fourth
quarter of the current financial year, but most starts of serial production will take place during the first quarter of
financial year 2025/26.
Major progress towards the pilot 28 new business objective
With these three new wins, FIGEAC AéRO makes yet another major step forward, towards its new business objective of
between EUR80 to EUR100 million annual revenue by financial year 2027/28. As of today, about a third of this objective has
now been secured, just 9 months into the PILOT 28 four-year plan.
Upcoming events
-- 27 September 2024: Annual General Meeting 2024
-- 19 November 2024: revenue for the 2nd quarter of FY 2024/25 (après bourse)
About Figeac Aéro
The FIGEAC AÉRO Group, a leading partner for major aerospace manufacturers, specialises in producing light alloy and
hard metal structural parts, engine parts, landing gear and sub-assemblies. FIGEAC AÉRO is a global group operating in
France, the USA, Morocco, Mexico, Romania and Tunisia. The Group generated annual revenue of EUR397.2 million in the year
to 31 March 2024.
FIGEAC AÉRO ACTUS finance & communication
Jean-Claude Maillard Corinne Puissant
Chief Executive Officer
Tel.: +33 (0)5 65 34 52 52 Analyst/Investor Relations
Tel.: +33 (0)1 53 67 36 77 / cpuissant@actus.fr
Manon Clairet
Simon Derbanne
Press Relations
Head of Investor and Institutional Relations
Tel.: +33 (0)1 53 67 36 73 / mclairet@actus.fr
Tel.: +33 (0)5 81 24 63 91 / simon.derbanne@figeac-aero.com
Glossary
Term / Definition
indicator
Current Current operating income (loss) adjusted for net depreciation, amortisation and provisions before the
EBITDA breakdown of R&D expenses capitalised by the Group by type
Sum of orders received and to be received extrapolated over a 10-year period for each contract and
Backlog request for proposals won, based on build rates announced and then projected and a EUR/USD exchange rate
of 1.12
Organic At constant scope and exchange rates
DIO (Days of Inventory Outstanding) Average number of days of revenue for which an item of inventory is held
Net debt Debt, net of cash, excluding non-interest bearing debt
Debt leverage Ratio of net debt excluding non-interest-bearing debt to current EBITDA
Capex Investments in fixed assets
ORNANE Bonds redeemable into cash and/or new and/or existing shares
Free Net cash-flow from operating activities before cost of financial debt and taxes, minus net cash-flow from
cash-flow investing activities
Net free Net cash-flow from operating activities after cost of financial debt and taxes, minus net cash-flow from
cash-flow investing activities
-----------------------------------------------------------------------------------------------------------------------
Regulatory filing PDF file File: PILOT 28: FIGEAC AÉRO secures 3 new wins on the A320 airframe for 65 million euros
=----------------------------------------------------
Language: English
Company: FIGEAC AÉRO
ZI de l'Aiguille
46100 FIGEAC
France
E-mail: actionnaires@figeac-aero.com
Internet: www.figeac-aero.com
ISIN: FR0011665280
Euronext Ticker: FGA
AMF Category: Inside information / Other releases
EQS News ID: 1991883
End of Announcement EQS News Service
=------------------------------------------------------------------------------------
1991883 19-Sep-2024 CET/CEST
Image link: https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=show_t_gif&application_id=1991883&application_name=news&site_id=dow_jones%7e%7e%7ef1066a31-ca00-4e1a-b0a4-374bd7d0face
(END) Dow Jones Newswires
September 19, 2024 11:53 ET (15:53 GMT)
© 2024 Dow Jones News
