Figeac Aero : Recharged industrial footprint – Outperform vs Neutral
>Rating upgraded to Outperform – target price of € 6 - We have raised our rating to Outperform vs Neutral, with a new target price of € 6 to play: i/ details of the 2028 plan (due on 11 January 2024), with upside potential on our estimates, ii/ the effects on FCF of higher production rates with an industrial footprint showing utilisation of only 75%. This level of acceleration in FCF generation (FCF yield of 8.9% in 2025 on a calendar basis) could potentially allow th...Figeac Aero SA, formerly Figeac Aero SARL, is a France-based company engaged in the manufacture of parts and components for aerospace industry. It offers a range of products and services such as design, manufacture and assembly of subassemblies; manufacture of structural parts, ranging from small fittings to large panels; supply of engine parts, such as vertical lathe, blades, and milling of aluminum and hard materials; and manufacture of precision parts, such as landing gear and thrust inverters. The Company's customer base includes Airbus, Embraer, ATR, Boeing, Bombardier, Eurocopter and Gulfstream, among others. It is a member of the Figeac Aero Group, comprising companies engaged in provision of aerospace-related products and services. It operates through Groupe Sonaca and PECISS, industrial technology services company based in Tunisia.
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