- Strong growth continues during Q2 +22.9%
- Priority for 2018/19: generate revenue of €425 million with positive and recurring free cash flows
The FIGEAC AÉRO Group (Ticker code: FGA), a key partner of major aerospace industry companies, today published its revenue for the first half of the 2018/19 financial year.
|€ millions, IFRS |
|% 2018/19 |
|% 2018/19 |
at constant exchange rates2
|Q2 figures (01/07 to 30/09)||78.9||97.0||+22.9%||+22.5%|
|Average €/$ exchange rate over the period||1.1744||1.1682|
|1st half-year figures (01/04 to 30/09)||169.3||200.5||+18.4%||+21.2%|
|Average €/$ exchange rate over the period||1.1392||1.1785|
- Restated for the application of IFRS15 effective as of 1 January 2018
- Constant exchange rates
Accelerated growth in Q2 2018/19
FIGEAC AÉRO reported an excellent Q2 2018/19, recording consolidated revenue of €97 million over the period June to September 2018, up 22.9% year on year. At constant exchange rates, the business for the quarter was up 22.5%3.
During Q2, the Group continued its cash generation actions by focusing, among other things, on reducing its WCR by transferring materials procurement to end customers (impact during Q2 2018/19 of €5.5 million compared to €5 million for Q2 2017/18).
Thus, over the first half-year, FIGEAC AÉRO recorded revenue of €200.5 million, up 18.4%. At constant exchange rates, business growth as at 30 September 2018 was 21.2%4.
The main aerospace programs growth drivers during this first half-year 2018/19 are the A350 (+14%), LEAP engine (+116%) and the B787 (+84%).
All of these production increases contributed significantly to the strong performance of the Aerostructures business, which posted growth of 18% and the machining and surface treatment business up 22.4% over the period with good performance for FIGEAC AERO North America.
Reaffirmed short and medium term targets
In line with its market plan, the Group reiterates its target of achieving positive and recurring free cash flows during the current financial year (closing March 2019).
The level of growth during the first half year enables FIGEAC AÉRO to forecast revenue as at 31 March 2019 of €425 million, with two-digit growth.
Confident in its development, FIGEAC AÉRO confirms its ambition to achieve €520 million5 in revenue in 2020 and €650 million5 in 2023.
- 18 December 2018, results for the 1st half year 2018/19 (before stock market opening)
ABOUT FIGEAC AERO
|The FIGÉAC 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 3,300 employees, FIGEAC AÉRO operates in France, the United States, Morocco, Mexico and Tunisia. In the year ended 31 March 2018, the Group reported annual revenue of €372 million. |
3: +20.7% at constant scope and constant exchange rates
4: +19.8% at constant scope and constant exchange rates
5: based on a 1.18 €/$ exchange rate and the production rates communicated by manufacturers