Figeac Aero: share price rises after a 'solid' first-half performance
In the first half of its 2023/24 financial year, ending September 30, the equipment supplier recorded sales of 181.2 million euros, compared with 150.3 million euros a year earlier.
Profitability grew at a faster pace than sales, with recurring Ebitda up 33% to 19.9 million euros from 14.9 million euros in the first half of 2022/23.
In its press release, Figeac explains that the economic environment is improving, with tensions relating to supply and inflation set to ease gradually over the coming months.
After a first-half performance judged to be "particularly solid", the Group confirms its financial targets for the 2023/24 financial year, namely sales of between €375 and €390 million, and current Ebitda of between €48 and €53 million.
In a reaction note, analysts at Oddo BHF welcome the "solid improvement in underlying performance", while maintaining their "neutral" opinion, with a price target of €5.7 on the share.
Since the start of the second half of the year, the share has admittedly suffered, as have many midcaps, but the 12.8% underperformance versus the CAC Mid 60 index does not reflect the improved fundamentals and the potential offered by the ramp-up of the existing industrial facilities", the research department believes.
At the end of the morning, the share price was up 6% on the Paris Bourse, making it one of the most significant gains on the Paris market.
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