2015/16 GROWTH OBJECTIVE ACHIEVED
 

The past year shows a growth dynamic that is perfectly in line with objectives. Consolidated revenue achieved by the FIGEAC AÉRO Group is €252.6 million for the year ended 31 March 2016, up by 23.8% over the previous financial year.

The business dynamic for the year 2015/16 is grounded essentially in Aero structure business (83.9% of total revenue), up by 25.5% to €212 million, and in machining and surface treatment business, up very sharply by 36.7% (revenue of €26 million) compared with 31 March 2015.

The American subsidiary based in Wichita has also reported strong growth in business at a rate of 36%.

Over the period, the Group has fully benefited from the ramp-up of major aeronautics programmes and has, in particular, taken full advantage of its strong positioning on the AIRBUS A350 programme, now in its commercialisation phase.

Buoyed by the momentum of this financial year characterised by double-digit business growth, FIGEAC AÉRO has eased its way to achieving a level of EBITDA margin of between 23 and 25%, in keeping with announced objectives.

Furthermore, this high-return growth combined with the positive shift in mark-to-market during the 2015/16 financial year should enable FIGEAC AÉRO to achieve a group-share net profit of over €30 million.
 

OUTLOOKS AND DEVELOPMENT STRATEGY
 

Thanks to the successful fund-raising operation in March 2016 amounting to €86.2 million, the Group has engaged an ambitious development plan based on the deployment of its business model on an international scale, particularly in the Americas (over 60% of the world market), but also in best-cost zones by:

• accelerating organic growth (80% of funds raised), notably by investing in production facilities in the aim of making further market share gains on existing or new/unallocated programmes (the A330neo for instance);
• seizing value-creating external growth opportunities (20% of funds raised) while maintaining strict financial discipline.

Already selected for the manufacture of components for major aeronautics programmes in the years ahead, the Group intends to pursue its strong growth and is maintaining its ambitious objectives set for March 2020:

• revenue of between €650 and €750 million⁴, i.e. an almost three-fold increasein business over four years;
• stability of the EBITDA margin at current levels.

   

Our next meeting: 5 July 2016 (before the market opens), annual results 2015/16

DISCLAIMER

This press release does not constitute and should not be considered as a public offering, an offer to sell or subscribe, or a solicitation of an order to purchase or subscribe, or as a means of soliciting public interest in a public offering.

This press release has been issued for information purposes and not as a prospectus within the meaning of Directive 2003/71/ EC of the European Parliament and of the Council of 4 November 2003 as amended, notably by Directive 2010/73/EU of the European Parliament and of the Council of 24 November 2010, as amended, as transposed by each Member State of the European Economic Area (the “Prospectus Directive”).

As regards Member States of the European Economic Area States other than France that have transposed the Prospectus Directive (the “Member States”), no action has been undertaken or will be undertaken to make a public offering of the shares of the Company requiring the publication of a prospectus in any such Member State. The shares may therefore only be offered in these States: (a) to legal entities classified as qualified investors as defined in the Prospectus Directive; or (b) in other cases that do not require the publication by FIGEAC AERO of a prospectus pursuant to Article 3(2) of the Prospectus Directive.

This press release has not been issued and has not been approved by an authorised person within the meaning of Article 21(1) of the Financial Services and Markets Act 2000. Accordingly, this press release is intended solely for (i) persons outside the United Kingdom, (ii) investment professionals falling within the scope of Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, (iii) persons falling within the scope of Article 49(2) (a) to (d) (high net worth companies, unincorporated associations, etc.) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, or (iv) any other persons to whom this document may be communicated in accordance with the law (the persons mentioned in paragraphs (i), (ii), (iii) and (iv) together being referred to as “Qualified Persons”). The securities are intended solely for Qualified Persons; and no invitation, offer or agreement relative to the subscription, purchase or other means of acquiring securities may be proposed or made other than to Qualified Persons. Persons other than Qualified Persons may not act or rely on this press release and the information contained herein. This press release is not a prospectus approved by the Financial Services Authority or any other regulatory authority in the United Kingdom within the meaning of Section 85 of the Financial Services and Markets Act 2000.

This press release does not constitute an offer of securities or a solicitation to purchase or subscribe for securities or a solicitation to sell securities in the United States. The securities referred to herein have not been and will not be registered pursuant to the US Securities Act of 1933, as amended (the “US Securities Act”), and may not be offered or sold in the United States without registration or exemption from the registration requirement imposed under the US Securities Act. The Shares have not been and will not be registered pursuant to the US Securities Act, and FIGEAC AERO does not intend to make any public offering of its shares in the United States of America.

(1) EBITDA= recurring operating income + depreciation and amortisation +/- provisions.

(2) 2015/16 revenue is calculated at the monthly average €/$ exchange rate, set at 1.104. The financial statement audit procedure is ongoing.

(3) 2014/2015 revenue is calculated at the budget-set €/$ exchange rate of 1.30.