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Financial Figures/Balance Sheet
Ried i. Innkreis –
- FACC continues on growth course
- Operating result up significantly
- Leading company with more than 3,200 employees in the region – recruiting offensive goes on
- Positive outlook for the current financial year confirmed
Ried i. Innkreis, July 11, 2018: FACC started the 2018/19 financial year with a good first quarter and successfully continued its growth course. One more time in succession, the Group achieved another increase in sales. A significant rise in operating earnings was also attained compared to the previous year. “We again successfully met our target in the first quarter. All divisions of the group are profitable growth drivers and contributed substantially to the positive development of the FACC Group in the first quarter,” says Robert Machtlinger, CEO of FACC AG.
Revenue in the first quarter of 2018/19 amounts to EUR 192.4 million (comparative period 2017/18: EUR 184.3 million). The 4.4% increase is attributable to the continuing constant increase in product revenue of 3.0% from EUR 172.8 million to EUR 177.9 million in the first quarter of 2018/19 and thus reflects the growth of the global aircraft industry. Key drivers for product sales are the programs Boeing 787, Airbus A320 Family, Airbus A330, Airbus A350 XWB and Bombardier Challenger 350 and Embraer Legacy 450/500 and the revenues from the corresponding engine families.
Reported earnings before interest and taxes (EBIT) amounted to EUR 16.3 million in the first quarter of 2018/19 (comparative period 2017/18: EUR 12.9 million). As a result of the first-time application of IFRS 15 Revenue from Customer Contracts, there was a positive effect of EUR 3.8 million on the reporting date. The adjusted values of both periods show a considerable increase in EBIT of 16%. In the first quarter of 2018/19, there was an increase of 88 FTE compared to the same period of the previous year. The headcount at the end of the first quarter of 2018/19 was 3,422 FTEs.
FACC is continuing the EUR 100 million multi-year investment program begun in FY 2017/18 and invested EUR 9.70 million in growth measures in the first quarter of 2018/19 (comparative period 2017/18: EUR 5.6 million) both in terms of products and capacities.
Management’s assessments of FACC AG’s revenue and earnings performance in the current fiscal year 2018/19 remain positive compared to the reporting date of May 19, 2018 – publication of the 2017/18 financial year
FACC will continue to pursue the sales target of EUR 1 billion by the end of the 2020/21 financial year in line with the company’s “Vision 2020” strategy. In the coming years, the company expects to increase the production rates of its most important programs gradually. Thanks to FACC’s balanced and modern product and customer portfolio, the company is able to profit from the general growth trend currently underway in almost all aircraft families.
FACC is particularly focused on processing the new orders signed last year, which are worth around EUR 750 million. It is expected that the first revenues from these new orders will be generated in the first half of the 2019/20 financial year.
Based on current market assessments and the Group’s existing product mix, FACC expects revenue growth in the single-digit percentage range in the 2018/19 financial year. The Group remains committed to initiatives to further increase profitability. This will lead to a substantial improvement in earnings. “We will continue to strengthen our activities in the development and production of new products as well as our innovation offensive, whilst sustainably expanding our role as the partner of choice of the aviation industry,” says Robert Machtlinger. “The implementation of our ‘Vision 2020’ strategy with a view to further expanding our position as a Tier 1 technology partner for Airbus, Boeing, Bombardier, Embraer and all renowned engine manufacturers remains our top priority.”
end of announcement euro adhoc
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issuer: FACC AG
A-4910 Ried im Innkreis
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