BUSINESS DURING THE FIRST HALF OF 2016/2017 (AcT)
- 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 Unaudited data |
2015/16 | 2016/17 |
% 2016/17 vs 2015/16 |
| 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 $40 million.
In line with its action plan for the current financial year (ending on 31 March 2017), the Group confirms its annual financial targets with expected record revenue growth of 35% to around €340 million and an EBITDA margin[2] of more than €78 million, which would be an historic level.
Backed by the success of its round of funding, the Group has committed itself to a far-reaching business development plan and to forging ahead with this growth drive. The March 2020 objectives are affirmed with revenue between €650 and €750 million[3], i.e. an almost three-fold increase in four years, and an EBITDA margin3 at current levels.
Upcoming release: 15 December 2016, first half-year 2016/2017 results (before the market opens)
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ABOUT FIGEAC AERO |
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The FIGEAC AERO Group, a leading partner of major aerospace manufacturers, specialises in the production of light alloy and hard metal structural parts, engine parts, landing gear parts and sub-assemblies. An international group with over 2,200 employees, FIGEAC AERO operates in France, the United States, Morocco, Mexico and Tunisia. In the year ended 31 March 2016, it reported annual revenue of €252.3 million and its year-end order book stood at €3.9 billion. |
| FIGEAC AERO Jean-Claude Maillard Chief Executive Officer Tél. : 05 65 34 52 52 |
ACTUS Finance & Communication Corinne Puissant Analyst/Investor Relations Tél. : 01 53 67 36 77 cpuissant@actus.fr Jean-Michel Marmillon Press Relations Tél. : 01 53 67 36 73 jmmarmillon@actus.fr |
[1] 2016/17 revenue is calculated at the average monthly EUR/USD exchange rate of 1.1230 over the period and 2015/16 revenue is calculated at the average monthly EUR/USD exchange rate of 1.109 over the period.
[2] EBITDA = recurring operating income + depreciation and amortisation + provisions
[3] Based on a €/$ parity of 1.18
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Full and original press release in PDF:
https://www.actusnews.com/documents_communiques/ACTUS-0-46497-FIGEAC-CP-CA-T2-2016_2017-VDEF-UKbis.pdf
Source : Actusnews