Revenue improved in the second half of financial year 2020/21, growing by +13.1% versus the first half of the year Continued efforts to adapt Commercial momentum intact Confirmation of positive
FIGEAC AERO: FIGEAC AÉRO PREPARES FOR THE FUTURE
Public funding to support the Group s development
FIGEAC AÉRO received a substantial €3.6 million subsidy in December 2020 under the stimulus plan set up by the Occitanie regional authority for the aerospace industry; the subsidy will be used to spur the Group s R&D efforts aimed at optimising its productivity. R&D is being carried out in several areas, such as workpiece removal of milled hard metal, optimal use of cutting tools and standardised machining processes to become more competitive. The region is thus expressing its full confidence in the Group yet again by supporting it through this unprecedented crisis.
FIGEAC AERO: PROVISIONAL 2020/21 HALF-YEAR RESULTS (1st April to 30th September 2020)
Business in the first half was hit hard by an unprecedented health crisis
The Group is poised to benefit from the first encouraging signs of an upturn in the air traffic industry
Winning new contracts and increasing our market share with clients
Reactivity and preparation: a structural fixed cost-cutting plan amounting to €30 million
Safeguarding the Group s cash and liquidity by introducing an operational optimisation plan, streamlining planned investments and taking on new loans totalling €95 million
Revenues and margins expected to improve significantly in the second half with cash-flows managed effectively