PILOT 28: Figeac aÉro secures 3 new wins on the A320 airframe for 65 million euros

FIGEAC AÉRO (FR0011665280 – FGA:FP), a leading partner for major aerospace manufacturers, today announces that it has signed three new agreements with Airbus and another top-tier customer for a total amount of €65 million. These contracts aim to further support increases in the A320 family production rates.

FIGEAC AÉRO’s Expertise at the heart of the deals

Two of the agreements are signed with Airbus. They cover a wide array of structural titanium parts, included in work packages destined to be fitted in the engine pylons of the A320 family aircraft. The third consists mainly of large dimension aluminium parts for the same aircraft. All will heavily leverage FIGEAC AéRO’s expertise in hard metal and light alloys machining, which were developed early in the Group’s history. This extensive know-how is notably concentrated at the historical facilities in Figeac, France, where the majority of parts related to these contracts will be manufactured.

The awarded parts result from a combination of capacity offloading, first-time outsourcing and a change of supplier. With these new wins, FIGEAC AéRO greatly reinforces its strategic position in the production of the A320 airframe.

new business to support increases in the A320 production rate

With a projected rate of 75 aircraft per month by the year 2027 (vs an average of close to 48 deliveries per month in 2023), Airbus is engaged in the process of reinforcing supply chain capabilities for its flagship aircraft. Despite post-COVID challenges impacting the industrial ecosystem, FIGEAC AéRO has managed to get industrial performance back to quasi-normative levels. In parallel, the ambitious investment policy pursued by the Group in the last decade has enabled it to offer production capacity that is immediately available. These two elements are key assets in supporting the production ramp-up.

These three new agreements are therefore a perfect illustration of the growth opportunities afforded to performing partners, in the current strive for higher production rates.

With a duration of five years, the contracts carry a total estimated value of €65 million and should generate annual revenue of approximately €12.5 million at cruising speed. First deliveries are expected to start during the fourth quarter of the current financial year, but most starts of serial production will take place during the first quarter of financial year 2025/26.

Major progress towards the pilot 28 new business objective

With these three new wins, FIGEAC AéRO makes yet another major step forward, towards its new business objective of between €80 to €100 million annual revenue by financial year 2027/28. As of today, about a third of this objective has now been secured, just 9 months into the PILOT 28 four-year plan.

Upcoming events

• 27 September 2024: Annual General Meeting 2024
• 19 November 2024: revenue for the 2nd quarter of FY 2024/25 (après bourse)

About Figeac Aéro 

The FIGEAC AÉRO Group, a leading partner for major aerospace manufacturers, specialises in producing light alloy and hard metal structural parts, engine parts, landing gear and sub-assemblies. FIGEAC AÉRO is a global group operating in France, the USA, Morocco, Mexico, Romania and Tunisia. The Group generated annual revenue of €397.2 million in the year to 31 March 2024.

Glossary