Figeac Aero : Liquidity bolstered with state-backed loan and streamlining of operations
>Q4 2019-20 sales ahead our estimates - Figeac Aero yesterday evening reported Q4 2019-20 sales of € 98.8m (ODDO BHF: € 94m), with an organic decline of 15.2% impacted by: i/ the grounding of the 737 MAX and stoppage of production for the Leap1-B engine (c € 10m), ii/ a COVID-19 impact of € 10m for the last two weeks of March, iii/ the stoppage of production for the A380, and iv/ lower production rates for the A330, A350 and B787. For the year to end-March 2020, sale...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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