A contract worth more than €30 million over a period of 10 years, relating to a “runner » of the market Production combining high technicality and large volume, reflecting the valorization of the Group’s know-how Very strong development potential
FIGEAC AÉRO (FR0011665280 – FGA:FP), a leading partner of major aerospace manufacturers, today announces the conclusion of a new agreement with Safran Aircraft Engines (SAE), relating to the production of the TRV exhaust casing. of the LEAP-1B engine equipping the Boeing 737MAX, for a total amount of more than €30 million.
STRENGTHENING FIGEAC AÉRO’S STRATEGIC POSITION ON THE LEAP ENGINE
Concerning the production of the TRV (Turbine Rear Vane) exhaust casing for the LEAP-1B, this new contract is particularly strategic for both Groups and strengthens their long-standing partnership.
The inconel part requires almost unprecedented technical know-how in supply chain, both by its dimensions, the complexity of its manufacturing process, and by its high volumes. This contract marks further recognition of FIGEAC AÉRO’s technical expertise and its ability to carry out a large-scale project.
Thomas Girard, Deputy General Manager of the FIGEAC AÉRO Group confirms: “In addition to the commercial aspects, the agreement signed today with SAE represents a real step forward for us on a technical level, which allows us to illustrate our differentiation strategy for a unique positioning within the value chain. With this success, we are particularly proud of the trust shown by a major player in the industry. »
FIGEAC AÉRO is thus strongly strengthening its partnership with the Safran group and its strategic position on the LEAP program – a program which has been a real success to which the Group is already making a strong contribution, notably through the production of IFVs within its factory of the future.or the major contract recently won for the LEAP-1A nacelles.
AN AGREEMENT WITH HIGH POTENTIAL
The agreement with a total duration of 10 years will involve two Group sites, Figeac and Aulnat (SNAA). The first deliveries of TRV casings are expected during the second half of 2024, with production ramping up in 2025.
With a total amount of more than €30 million, FIGEAC AÉRO believes that this contract has very strong potential, both in terms of production rate – as a reminder, the LEAP-1B engine equips 100% of the B737MAX, of which Boeing intends to deliver this year between 400 and 450 devices – what a development in market share. A real industrial challenge linked to the first outsourcing of part of the production, the industrialization of TRVs benefits from extensive support from SAE both logistically, with for example the provision of raw materials, and operationally. and financial.
Building on this new success and the strong recovery in the sector, FIGEAC AÉRO intends to continue the development of new growth opportunities, while respecting its objectives of profitability, control of CAPEX and WCR, factors of cash generation.
November 13, 2023: revenue for the first half of the 2023/24 financial year (after market trading) December 12, 2023: half-year results for the 2023/24 financial year (after market trading)
About FIGEAC AÉRO
The FIGEAC AÉRO Group, a leading partner of major aeronautics manufacturers, is a specialist in the production of structural parts in light alloys and hard metals, engine parts, landing gear and sub-assemblies. An international group, FIGEAC AÉRO is present in France, the United States, Morocco, Mexico, Romania and Tunisia. As of March 31, 2023, the Group achieved annual turnover of €341.6 million.
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Term/Indicator Definition Current EBITDA Current operating income restated for net depreciation and provisions before breakdown of R&D costs capitalized by the Group by nature Order book / backlog Sum of orders received and to be received extrapolated over a period of 10 years from each contract and call for tenders won, based on the production rates communicated and then projected, and a EUR/USD parity of 1.12 Organic At constant exchange rates and perimeter DIO (Days of Inventory Outstanding) Number of days of average turnover during which an inventory is carried Lever Net debt ratio excluding non-interest bearing debt to current EBITDA CAPEX Capital Investments ORNANE Bonds with option to redeem in cash and/or in new and/or existing shares Free Cash Flows Net cash flows generated by activity, before cost of financial debt and taxes, less net cash flows linked to investment operations
 Productions whose volumes and rates are among the highest on the market
 Alloy consisting mainly of nickel, chromium, iron, magnesium and titanium
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