Figeac Aero (FGA) Q1 2027 TU earnings summary

Executive summary

• Achieved 21st consecutive quarter of revenue growth, with Q1 2026/27 revenue at €111.8 million and strong performance in A350, A320, and 737 programs.

• Backlog reached a record €5.0 billion, reflecting robust order intake and commercial momentum.

• Management remains confident in meeting full-year and 2028 strategic targets.

• Strong sales momentum and record backlog driven by new business and higher build rates.

• Market tailwinds remain robust despite geopolitical challenges.

Financial highlights

• Q1 2026/27 revenue: €111.8 million, up 9.7% reported and 11.6% organic year-over-year.

• Aerostructures & Aeroengines division revenue: €104.1 million, up 12.5% organic.

• Defense & Energy division revenue: €7.7 million, up 1.1% year-over-year.

• Aerospace growth primarily fueled by A350, A320, and 737 programs.

• Annual revenue for FY 2025/26 was €486.8 million.

Outlook and guidance

• Full-year 2026/27 revenue guidance: €530–560 million; EBITDA: €86–94 million; Free Cash Flow: €35–40 million; leverage: 2.6x–3.1x.

• 2028 targets: revenue >€600 million, EBITDA >€100 million, Free Cash Flow €50–60 million, leverage 2.0x–2.5x.

• EUR/USD assumptions: 1.16 for FY26/27, 1.175 for FY27/28.

• Strategic initiatives expected to impact cash flow by €10–15 million.

• Guidance assumes no further significant geopolitical deterioration and stable EUR/USD exchange rates.