Figeac Aéro: organic revenue growth of 11.6% in Q1, order book at €5.0bn
Figeac Aéro reported quarterly revenue of €111.8 million for the first quarter of fiscal year 2026/27, with organic growth of 11.6%.
Beyond the level of activity, the group highlights an order book that exceeds the €5.0 billion threshold for the first time, while confirming all its annual and 2028 horizon objectives.
Revenue of €111.8 million, driven by Aerostructures
Over the period from April 1 to June 30, 2026, Figeac Aéro recorded revenue of €111.8 million, compared to €101.9 million a year earlier, representing growth of 9.7% on a reported basis and 11.6% on an organic basis. This marks the 21st consecutive quarter of revenue growth for the group.
The Aerostructures & Aero-engines division, which accounts for the bulk of activity, reached €104.1 million compared to €94.3 million, up 12.5% organically (+10.4% on a reported basis). This growth is driven by the A350, A320 and 737 programs, with an acceleration in LEAP engines.
The Defense & Energy division returned to growth at €7.7 million, compared to €7.6 million a year earlier (+1.1%), with Defense momentum being moderated by timing delays in the Energy segment.
An order book that exceeds €5.0 billion
As of June 30, 2026, Figeac Aéro's order book reached €5.0 billion, a level the group describes as unprecedented, up 3.3% compared to March 31, 2026. This increase is notably linked to the A320 and A350 programs.
The group indicates that it has secured four new contracts in North America and defense, thereby securing 60% of the commercial target under the PILOT 28 plan, which aims for between €80 million and €100 million in annual revenue from new contracts by 2028.
According to IATA data cited by the group (as of July 31, 2026), passenger traffic is up 0.6% since January 1 and freight is up 4.6%, despite the effects of the Middle East conflict. Order books for major manufacturers reach 16,510 commercial aircraft.
Annual objectives and 2028 targets confirmed
Figeac Aéro has confirmed all its annual objectives: revenue between €530 million and €560 million, current EBITDA between €86 million and €94 million, Free Cash Flows between €35 million and €40 million (after approximately €10 million in strategic initiatives), and expected financial leverage between 2.6x and 3.1x.
The group notes that the quarter is in line with the annual target, taking into account revenue seasonality. As a reminder, the fiscal year ended March 31, 2026 generated revenue of €486.8 million.
For the horizon of March 2028, Figeac Aéro maintains its targets of over €600 million in revenue, €100 million in current EBITDA and leverage between 2x and 2.5x. These objectives are based on an EUR/USD exchange rate assumption of 1.16 for the current fiscal year and 1.175 for 2027/28, as well as on the absence of any major deterioration in the geopolitical environment.
