FY 2018/19 Preliminary Results
FACC continues to grow on preliminary figures for the financial year 2018/19
- • Sales increase to EUR 780,1 million
- • Disproportionate operating earnings increase
- • Increase of the dividend to 0.15 EUR
FACC AG was significantly influenced by two developments in the 2018/19 financial year. Firstly, both the Group's sales and profitability were further increased. Sales increased by 3.9% to EUR 780.1 million and represent a new record high. Operating profitability increased significantly faster than sales. Second and strategically important for future growth are additional new orders and a further increase in order backlog to USD 6.5 billion. FACC is once again positioning itself as a long-term partner to the aviation industry in all areas, in line with its claim "Beyond Horizon".
According to the communicated forecasts of the management, sales were increased in the financial year 2018/19 by 3.9% to EUR 780.1 million. The stable development of the aircraft industry and the increase in the production rates of major aircraft programs and the balanced FACC customer and product portfolio were largely responsible for this positive development.
In terms of results, the targeted target of a further increase in EBIT was achieved. According to preliminary figures, the operating EBIT in the financial year 2018/19 increased by 7.8% to EUR 52.4 million (comparative value 2017/18: EUR 48.6 million). After taking into account a negative one-off effect resulting from the impairment of research and development costs of EUR 11.4 million in connection with the planned cessation of production of the Airbus A380, the reported EBIT amounted to EUR 41.0 million.
With net debt of EUR 180.9 million based on preliminary figures, FACC was not only 0.5% down on the previous year's EUR 181.9 million, but also remained almost constant in the context of an increase in operating performance.
The management of FACC AG will propose a dividend increase of 36.4% to EUR 0.15 per share at the Annual General Meeting on the basis of the earnings figures available for the financial year 2018/19.
The figures quoted are still unaudited provisional IFRS figures of FACC AG. The annual financial report of FACC AG and the outlook for the financial year 2019/20 will be published on May 22, 2019.