The FIGEAC AÉRO Group (Ticker code: FGA), a key partner of major aerospace industry players, today published its revenue for the third quarter of fiscal year 2018/19.
1 Restated for the application of IFRS15 effective as of 1 January 2018
Intensification of growth over the first 9 months of fiscal year 2018/19
FIGEAC AÉRO completed an excellent third quarter 2018/19 with consolidated revenues of €111.9 million over the period from October to December 2018. The increase in revenues is €14.2 million, or double by comparison to the same period of the previous fiscal year (at constant scope and exchange rate the increase is €12.2 million).
Cash generation actions that act, in particular, on reducing working capital needs continue to bear fruit and make it possible, as of now, for FIGEAC AÉRO to show on 31 December 2018, positive free cash-flow.
Therefore, over the first nine months of the 2018/19 fiscal year, FIGEAC AÉRO recorded an increase of €46.2 million with its revenues of €314 million.
During these nine months 2018/19, the main aerospace programs growth drivers are the A350 (+13%), the LEAP engine (+121%), the Embraer E2 (+83%) and the B787 (+68%).
All of these production increases contributed extensively to the strong performance of Aerostructures activity, which realised an increase of 12% and General Mechanics and Boilermaking, which was up by 200% over the third quarter.
The excellent half-year performances achieved in terms of operational cash flow generation allow the Group to feel at ease about its goal of generating positive and recurrent free cash-flow in the current fiscal year (year-end March 2019).
Sales momentum on 31 December 2018, made it possible for FIGEAC AÉRO to confirm minimum revenues of €425 million on 31 March 2019, thus continuing a pace of annual growth never reached before in the aerospace industry.
Confident in its medium-term market plan, FIGEAC AÉRO reaffirms its goal of reaching €520 million3 of revenue in 2020 and €650 million3 in 2023.
3: based on a €/$ exchange rate of 1.18 and current capacity of manufacturers
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