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Figeac Aéro Earnings Release 2018
1329_iss_2019-05-29_419e57e1-c492-41e2-99e0-ad68858e4f7d.pdf
Earnings Release
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PRESS RELEASE
Figeac, 28 May 2019
A NEW YEAR OF STRONG GROWTH
2018/19 revenue of €425.2 million, up by +15%
Positive free cash flow confirmed for the financial year ended 31/03/19
The FIGEAC AÉRO Group (Ticker code: FGA), a leading partner of major aerospace industry companies released its annual revenue figures today (1 April 2018 to 31 March 2019).
| € millions, IFRS Unaudited data |
2017/181 | 2018/19 | 2018/19 vs 2017/18 in M€ |
2018/19 vs 2017/18 in % |
|---|---|---|---|---|
| 9-month revenue (01/04 to 31/12) | 267.8 | 313.9 | +€46.1 M | +17.2% |
| Average €/\$ exchange rate over the period | 1.1517 | 1.174 | ||
| Revenue for the 4th quarter (01/01 to 31/03) | 102.2 | 111.3 | +€9.1 M | +8.9% |
| Average €/\$ exchange rate over the period | 1.1966 | 1.1358 | ||
| Annual revenue | 370.0 | 425.2 | +€55.2 M | +14.9% |
| Average €/\$ exchange rate over the period | 1.167 | 1.1638 |
1 Restated in application of standard IFRS15 effective as of 1 January 2018
Annual revenue goal reached
For the entire 2018/19 financial year, FIGEAC AÉRO recorded an increase of €55.2 million or +14.9% of its revenue, rising to €425.2 million, and thus confirming its stated target (at constant scope and exchange rate the growth is +13.2%).
During the 2018/19 financial year, the growth drivers were the Embraer E2 (+119%), the LEAP engine (+97%) the B787 (+55%) and the A350 (+12%)
All of these production increases contributed extensively to the positive performance of the Aerostructures business, which grew by 13% and General Engineering and Forming activities, which increased by 122% over the 2018/19 financial year as a whole.
In the 4th quarter of the 2018/19 financial year (from 1 January to 31 March 2019), the FIGEAC AÉRO Group posted revenue of €111.3 million, an increase of +8.9% as compared to the same period of the previous year, this quarter being marked by a very tough comparative.
Outlook
In accordance with its commitments, cash-generation activity continued to bear fruit, which allowed FIGEAC AÉRO to reaffirm positive free cash-flows for the financial year ended 31 March 2019.
Moreover, on the strength of its sustained sales momentum, FIGEAC AÉRO confirms a level of activity for 2020 in line with analysts' expectations and retains its medium-term growth ambitions.
Next release:
▪ 3 July 2019, FY 2018/19 results (after stock market closing)
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 4,000 employees, FIGEAC AÉRO operates in France, the United States, Morocco, Mexico and Tunisia. In the year ended 31 March 2019, the Group reported annual revenue of €425.2 million.
FIGEAC AÉRO
Jean-Claude Maillard Chief Executive Officer Tel: +33 (0)5 65 34 52 52
ACTUS Finance & Communication
Corinne Puissant -Analyst/Investor Relations Tel. : +33 (0)1 53 67 36 77 / [email protected]
Abdelkader Benchiha Director of Institutional Relations VP IR & Public Affairs Tel.: +33 (0)5 81 24 61 90 / [email protected]
Manon Clairet - Press Relations Tel. : +33 (0)1 53 67 36 73/ [email protected]