Figeac Aéro reports earnings upswing in 2015/2016
Figeac Aéro reports earnings upswing in 2015/2016
© Figeac Aéro

| Staff writer 300 mots

Figeac Aéro reports earnings upswing in 2015/2016

The Figeac Aéro Group has reported consolidated revenue of €252.4m for the 2015/2016 financial year, an increase of 21.6% over the previous year, in line with the annual target. The group delivered substantial operating profits for the fifth year in a row buoyed by growing business and improved industrial performance. Adjusted EBITDA grew €60.8m, for a profit margin of 24.1%, in line with published objectives.

The French firm —which specialises in the production of light alloy and hard metal structural parts, engine parts, landing gear parts and sub-assemblies — reported a 16.4% increase in recurring operating income, to €38.8m for the 2015/2016 financial year. The current operating margin stands at 15.4%, in line with the Group's business development plan.

This growth, combined with the positive shift in mark-to-market valuation during the 2015/2016 financial year, generated net profit (Group share) of €31.2m, compared to a net loss (Group share) of €21.6m the previous year.

Over the financial year, the Group invested €73.1m to ramp up its production facilities and achieve its objective of doubling revenues by 2018, i.e. €500m.

More than €37m in investments were allocated to production facilities, including the purchase of 18 new machines and the ongoing construction of the highly automated plant for the LEAP engine at the Figeac site.

For the current financial year (ending 31st March 2017), Figeac Aéro aims to accelerate business growth by at least 35%. Its target revenue is between €340m and €370m, depending on aircraft manufacturer production rates, with an EBITDA margin holding steady between 23 and 25%.

Backed by the success of its round of funding, the Group has committed itself to an ambitious business development plan. Objectives for March 2020 include revenue between €650m and €670m, an almost threefold increase in four years, and a stable EBITDA margin at the current levels.

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