Figeac Aéro has reported significant growth for the first half of the 2024/2025 fiscal year, with a 6.57% rise in stock price to €5.84. The company achieved an EBITDA of €25.8 million, a 30% increase year-over-year, and a positive operating result of €4.9 million. Revenue reached €200 million, reflecting a 12% organic growth. Cash flows from operations rose to €43.4 million, and free cash flow hit a record €28.3 million, prompting an increase in fiscal targets.
Figeac Aéro Reports Impressive Growth in First Half of 2024/2025
Figeac Aéro has experienced a remarkable surge in its stock, climbing by 6.57% to reach €5.84, following the release of its robust financial performance for the first half of the 2024/2025 fiscal year. The aerospace equipment supplier is on track to achieve its financial objectives for the fourth consecutive year. The company’s operational performance has shown significant improvement, with a current EBITDA of €25.8 million, reflecting a 30% increase compared to the same period last year. This growth rate is nearly three times faster than the revenue increase, resulting in an EBITDA margin rise of 190 basis points to 12.9%, up from 11% a year prior.
Record Cash Generation and Positive Operating Results
According to TP Icap Midcap, the group’s EBITDA aligns closely with expectations, standing at €25.8 million or 12.9% of revenue. Notably, aside from a minor loss from the Mexican subsidiary (-€1.6 million for the semester), the company is no longer burdened by substantial non-recurring costs as seen in previous years. If these costs are excluded, the EBITDA margin would have reached nearly 13.4% during the first half of the prior fiscal year. The current operating result also turned positive at €4.9 million, a significant turnaround from a loss of €3.9 million in the previous semester.
For the first half ending September 30, 2024, Figeac Aéro reported an organic growth in revenue of 12% (10.3% in published data), amounting to €200 million. After accounting for deferred tax losses of €5 million, the company noted a net loss of €4.4 million, a slight improvement from a loss of €5.3 million a year earlier.
In a noteworthy achievement, Figeac Aéro generated cash flows from operations totaling €43.4 million, marking a 19.9% increase from the first half of the preceding fiscal year. This enhancement is attributed to a modest rise in self-financing capacity (before debt costs and taxes) to €23.9 million, compared to €22.4 million the previous year, along with a reduction in working capital requirements which fell to €19.5 million from €13.7 million in the first half of 2023/24.
With a strong operational cash generation and prudent investment management, Figeac Aéro has achieved a free cash flow of €28.3 million during this first half, reaching a historic high. The company remains optimistic about the second half of the year and confirms its fiscal targets, projecting revenue between €420 million and €440 million, and current EBITDA between €67 million and €73 million. Additionally, the free cash flow target for the 2024/25 fiscal year has been raised to €30-35 million, up from the initial target of €20-28 million.