Figeac Aero (FGA) H2 25/26 earnings summary

Executive summary

• Achieved all annual financial targets for the fifth consecutive year, with record revenue and EBITDA despite FX headwinds and a fire at the Aulnat facility.

• Maintained strong sales and commercial momentum, especially in North America, and secured a record backlog of €4.8 billion.

• Civil and military markets remain favorably oriented, with minimal impact from Middle East conflict.

• Launched new strategic initiatives to enhance value creation and capture future growth post-PILOT 28.

Financial highlights

• Revenue rose 12.6% year-over-year to €486.8m, with organic growth of 15.8%.

• Current EBITDA increased 13.1% to €78.6m, margin stable at 16.1%.

• Operating income up 26.0% to €28.2m; pre-tax income turned positive at €0.7m.

• Net income declined to €0.5m from €3.6m due to higher interest, FX losses, and lower tax income.

• Free cash flow remained strong at €36.0m, nearly matching last year’s record.

Outlook and guidance

• FY26/27 revenue guidance: €530m–560m; EBITDA: €86m–94m; free cash flow: €35m–40m.

• FY27/28 targets: revenue >€600m, EBITDA >€100m, free cash flow €50m–60m.

• Financial leverage expected to improve to 2.0x–3.1x by FY27/28.

• Strategic investments of €10m–30m planned for capacity, defense, and value chain integration.