Figeac Aéro: targets confirmed after a good 2nd quarter

(CercleFinance.com) - Figeac Aéro is up more than 4% on the Paris Bourse this Wednesday, after reporting growth of 21.
1% in its second quarter and confirming its annual targets.

The manufacturer of structural parts for the aerospace industry last night reported sales of 106.4 million euros for the three months to the end of September, compared with 87.8 million euros a year earlier.

On an organic basis, sales were up 23.4%.

In a press release, the specialist in engine parts and landing gear explained that it had benefited from the general increase in production rates on single-aisle commercial programs, and to a lesser extent on wide-body aircraft.

Overall, sales for the first half of its 2024/25 financial year came to 200.4 million euros, representing organic growth of 12.3% (+10.6% on a reported basis), a performance in line with its annual targets.

For the current financial year, Figeac is still targeting sales of between 420 and 440 million euros, recurring Ebitda of between 67 and 73 million euros, and free cash flow (FCF) of between 20 and 28 million euros.

In a reaction note, analysts at TP ICAP Midcap refer to a "still sustained sales momentum" and confirm their Buy recommendation on the stock, with a price target of 8.5 euros.

Oddo BHF stresses that, in addition to single-aisle production rates, price effects drove growth over the past quarter, leading the brokerage firm to renew its 'outperform' opinion and 7.1 euro target.

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