Figeac Aéro: three new contracts for the A320

(CercleFinance.com) - Figeac Aéro was up sharply on the Paris Bourse on Friday, after winning three new contracts for the Airbus A320, worth a total of 65 million euros.


The aeronautical equipment supplier states that two of these agreements were signed with Airbus, covering titanium aerostructure parts for integration in the engine masts of the single-aisle medium-haul family.

The third contract signed with another 'blue-chip customer', whose name has not been revealed, mainly concerns large aluminum parts for the same aircraft.

With these commercial successes, Figeac believes it has taken a major step towards its annual target of 80 to 100 million euros in new business sales by the 2027/28 financial year.

To date, around a third of this target has already been secured, he adds, just nine months after the launch of the four-year strategic plan

For analysts at TP ICAP Midcap, who are Buy on the stock with a target price of 8.5 euros, these contracts reward the company's industrial excellence, as well as its proactive investment strategy pursued in the past.

These agreements come at a time when Airbus is looking to boost supply chain capacity for its flagship aircraft, with a projected rate of 75 aircraft per month by 2027, compared with 48 deliveries per month in 2023.

According to TP ICAP Midcap, Figeac is thus well positioned to seize new growth opportunities thanks to its immediately available production capacities.

The share price climbed 1.7% in the wake of these announcements, bringing its gains since the start of the year to over 10%.

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