In the first quarter of the 2023/2024 financial year (from April 1 to June 30, 2023), the turnover of the’French equipment supplier Figeac Aéro amounted to 93.4 million euros, compared to 65.4 million euros in the first quarter.
According to the aeronautical subcontractor, who works with Airbus and Boeingthe growth in its turnover of 42.8% (44.6% in organic data) is driven on the one hand by the continued recovery in the aeronautics sector and the partial pass-through of inflation, to like the last quarters, and on the other hand, by a particularly favorable base effect, linked to the significant impact on the first quarter of 2022/23 of the switch to the new ERP.
Its Aerostructures & Aeromotors division recorded growth of 38.2% in turnover to 82.3 million euros (40.2% on an organic basis), compared to 59.6 million euros in Q1 2022/2023 . Diversification Activities also increased by 90.3% over the period, to 11.1 million euros, thanks to very strong growth in MTI’s activities and a still low base.
The increase in air traffic and the dynamics of the aeronautical industry have a positive impact on Figeac Aéro’s commercial activity. On the one hand, the aeronautical subcontractor has a stable order book as of June 30, 2023 compared to March 31, 2023 at 3.4 billion euros. On the other hand, it confirms a strong activity of consultations, in connection with the strong demand for new devices.
“To capture new business, Figeac Aéro continues to size itself to have adequate industrial capacities, and to optimize its organization and its industrial tools to improve its industrial performance. In light of this progress, the group confirms that it is holding very close discussions with major system manufacturers, which should give rise to significant developments.“, announces the equipment manufacturer, which employs more than 3,000 people on its sites around the world.
Outlook
“Given a strong first quarter, good business outlook, and assuming no deterioration in economic conditions“, Figeac Aéro maintains its end-of-year objectives, namely:
-A turnover of between 375 million euros and 390 million euros
-A current EBITDA between 48 million euros and 53 million euros
– Free cash flows between 16 million euros and 20 million euros
