Chairman's Message
" Dear Shareholders, dear investors,
Faithful to its model as an aerospace pure player, FIGEAC AERO has strongly expanded over the last decade allowing it to reach critical size and become a key partner for all major players in the industry. Thanks to its now central role in the value chain, the Group has demonstrated its resilience in the face of the lasting impact of the health crisis.
It is clear that returning to pre-crisis levels and turning around our accounts were key features of our Route 25 strategic plan, which was also designed to initiate stronger cash generation.
We have achieved all our financial targets over the last two years and we are in well on our way to achieving it for a third consecutive year. This success was made possible thanks to the total commitment of our teams around the world, and the rapid recovery in commercial aerospace.
This recovery is reflected in record sales figures for the major aircraft manufacturers Airbus and Boeing, with cumulative order intake for more than 3,600 commercial aircraft in 2023, and backlogs of almost 15,000 aircraft, representing guaranteed production for 12 years1.
Given the speed of our recovery and the strength of our markets, we decided to accelerate our trajectory and change dimension with PILOT 28. We are indeed writing a new history for the Group. More specifically, by 2028, FIGEAC AERO will have substantially reduced its debt and strengthened its commercial leadership, while resolutely pursuing a long-term trajectory towards low-carbon aviation. In figures, this will mean revenue approaching 600 million euros by March 2028, i.e. +30% compared with our historical highs, and a low-debt financial structure with a financial leverage brought back to between 2 and 2.5.
This is a strategy of profitable and responsible growth, which will consolidate FIGEAC AERO's position as a sustainable leader in the global aerospace industry - sustainable in terms of both social responsibility and financial strength.
Driven by this ambition, our teams are fully committed to this new horizon, and I am convinced that this new project will win your support.
Jean-Claude Maillard
Chairman and CEO of FIGEAC AERO Group
Source: Airbus and Boeing, as at 31 December 2023