The FIGEAC AÉRO Group (ticker code: FGA), a reference partner of leading aeronautics companies, has reasserted its priorities in terms of cash generation and growth as part of operations involved with the closing of half-yearly accounts as at 30 September 2017.
The Group maintains its target of generating positive and recurring free cash-flows by the closing date of March 2019.
All the actions implemented within the Group coming under extremely tight management of working capital requirements and investment are beginning to pay off. Thus, for the first half-year 2017/18 (accounts closed 30 September 2017), free cash-flows should be in around - €26 million, an improvement over the 2016/17 half-year (- €45 million as at 30 September 2016).
Over the whole financial year closing 31 March 2018, the Group expects free cash-flows of around - €35 million, compared with - €86 million the previous year, with investments meeting the estimated target of around €65 million.
At the same time, the Group's ambitions by March 2020 of revenue standing at a minimum of €650 million remain unchanged based on a euro/$US exchange rate of 1.18 and aircraft manufacturers' latest production rates announced.
The publication of 2017/18 half-yearly results on 20 December 2017 prior to market trading will enable senior management to provide details of all the Group's ongoing actions and consolidated half-yearly results.
ABOUT FIGEAC AERO
The FIGEAC AÉRO 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 a workforce of over 3,000 employees, FIGEAC AÉRO operates in France, the United States, Morocco, Mexico and Tunisia. In the year ended 31 March 2017, the Group reported annual revenue of €325 million.