Figeac Aéro — Board/Management Information 2023

Aug 29, 2023

Figeac, 29 August 2023

CHANGE IN THE MANAGEMENT OF FIGEAC AÉRO

FIGEAC AÉRO (FR0011665280 – FGA:FP), a leading partner for major aerospace manufacturers, has today announced the appointment of Thomas Girard, Commercial Director since 2019, to the position of Chief Operating Officer, replacing Didier Roux who is leaving the Group effective September 1, 2023.

FIGEAC AÉRO's management evolves, with the appointment of Thomas Girard as Chief Operating Officer, alongside Jean-Claude Maillard, effective September 1, 2023. He is to replace Didier Roux, who, after 24 years with FIGEAC AÉRO, will be leaving the Group on the same date to pursue new professional objectives.

Thomas Girard's appointment is part of the Group's decision to reinforce the integration of its purchasing, industrial and commercial functions under a single supervisor, so as to provide it with all the operational leverage needed to meet the challenges of the current inflation and supply tensions.

Thomas Girard benefits from an in-depth knowledge of the Group, having joined it over 18 years ago. His in-house trajectory also allowed him to lead Group Purchasing and then Sales, placing him at the heart of FIGEAC AÉRO's relations with its strategic suppliers and major OEMs - a thorough understanding of the aeronautical ecosystem that is particularly critical in the current context.

Jean-Claude Maillard, Chairman and CEO of Groupe FIGEAC AÉRO, comments: "Both personally and on behalf of the Group as a whole, I would like to thank Didier for his unwavering commitment over his many years with the company, and for the past 4 years at my side as COO. He has made a major contribution to the structuring of the Group, both in periods of strong growth and during the health crisis. Didier is a recognized aerospace professional, and I wish him all the best in his new endeavors.

Faced with a current context as buoyant as it is demanding, I have every confidence in Thomas. With the support of a strong team of managers, I'm convinced that he will be able to pursue the company's development while remaining true to our DNA of industrial excellence and continue to serve the major aerospace players."

With this appointment ratified by the Board of Directors, FIGEAC AÉRO reaffirms its strategic orientations of profitable and disciplined growth - namely, a return to pre-crisis revenue levels, accompanied by increased profitability and control of CAPEX and working capital requirements.

Upcoming events

• 6 September 2023: revenue for the 1st quarter of FY 2023/24 (after trading)
• 29 September 2023: Annual General Meeting 2023
• 13 November 2023: revenue for the 1st half of FY 2023/24 (after trading)

About FIGEAC AÉRO

The FIGEAC AÉRO Group, a leading partner for major aerospace manufacturers, specialises in producing light alloy and hard metal structural parts, engine parts, landing gear and sub-assemblies. FIGEAC AÉRO is a global group operating in France, the USA, Morocco, Mexico, Romania and Tunisia. The Group generated annual revenue of €341.6m in the year to 31st March 2023.

FIGEAC AÉRO

Jean-Claude Maillard Chief Executive Officer Tel.: +33 (0)5 65 34 52 52

Simon Derbanne VP Investor and Institutional Relations Tel.: +33 (0)5 81 24 63 91 / simon.derbanne@figeac-aero.com

ACTUS Finance & Communication

Corinne Puissant Analyst/Investor Relations Tel.: +33 (0)1 53 67 36 77 / cpuissant@actus.fr

Manon Clairet Press Relations Tel.: +33 (0)1 53 67 36 73 / mclairet@actus.fr

The leading partner for major aerospace manufacturers

PRESS RELEASE

APPENDICES

€m - IFRS (audit in the final stages)	31/03/23	31/03/221
Fixed assets	265.9	271.9
Other non-current assets	5.5	17.6
Inventory	196.2	182.2
Contract assets	24.4	25.3
Trade receivables	59.9	61.1
Current tax assets	7.9	7.7
Other current assets	26.7	21.7
Cash & cash equivalents	115.5	49.3
TOTAL ASSETS	702.0	636.8
Shareholders' equity	70.0	37.3
Non-current financial liabilities	342.6	208.7
Other non-current liabilities	32.0	30.1
Short-term financial liabilities	21.1	16.2
Current portion of financial liabilities	31.4	155.4
Non-interest-bearing debt	9.5	10.2
Repayable advances	3.9	4.2
Trade payables and related accounts	83.2	87.9
Other current liabilities	108.1	86.7
TOTAL LIABILITIES	702.0	636.8

Simplified consolidated balance sheet

Consolidated cash-flow statement

€m - IFRS (audit in the final stages)	2022/23	2021/22
Cash-flow from operations, before cost of financial debt and taxes	22.8	18.3
Change in working capital requirement	8.3	16.2
Net cash-flow from operating activities	31.1	34.5
Net cash-flow from investing activities	(25.7)	(29.1)
FREE CASH-FLOW	5.4	5.4
Acquisitions or disposals of treasury shares	(0.1)	(0.1)
Change in borrowings and repayable advances	37.2	(15.2)
Repayment of lease liabilities	(16.0)	(17.5)
Interest paid	(8.1)	(4.8)
Debt restructuring fees	(5.7)	-
Capital increase	53.5	-
Inventory carrying transaction with Aerotrade	(4.5)	3.7
Net cash-flow from financing activities	56.2	(34.0)
Change in cash position	61.6	(28.6)
Cash position - opening date	33.0	61.5
Change in translation adjustment	(0.2)	0.0
Cash position - closing date	94.4	33.0

GLOSSARY

Term / indicator	Definition
Current EBITDA	Current operating income (loss) adjusted for net depreciation, amortisation and provisions before the breakdown of R&D expenses capitalised by the Group by type
Backlog	Sum of orders received and to be received extrapolated over a 10-year period for each contract and request for proposals won, based on build rates announced and then projected and a EUR/USD exchange rate of 1.12
Organic	At constant scope and exchange rates
DIO (Days of Inventory Outstanding)	Average number of days of revenue for which an item of inventory is held
Leverage	Ratio of net debt excluding non-interest-bearing debt to current EBITDA
Capex	Investments in fixed assets
ORNANE	Bonds redeemable into cash and/or new and/or existing shares
Free cash-flow	Net cash-flow from operating activities before cost of financial debt and taxes, minus net cash-flow from investing activities