EANS-Adhoc: FACC AG / FACC AG closes the first half of 2015/16 with continuous solid revenue growth and noticeable improvement in earnings
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Mid Year Results/6-month report
Product revenues 16.2 % above the previous year's figure\nEarnings improvement (EBIT) of EUR 20.5 million.\nRobust firm order backlog of USD 5.2 bn\nThe continuous solid performance of the commercial aerospace market had a
positive effect on the development of Group's revenues in the first half of
In the first half of 2015/16, revenues amounted to EUR 270.1 million
(comparative period in 2014/15: EUR 235.9 million). This growth in revenues was
mainly driven by the increase in product revenues from EUR 212.8 million as of
31 August 2014 to EUR 247.3 million as of 31 August 2015, while revenues related
to development services remained stable at EUR 22.8 million in the period under
review (comparative period in 2014/15: EUR 23.1 million). The main drivers with
regard to product revenues were Airbus A321, Airbus A350 XWB, Bombardier
Challenger 350 and Embraer Legacy 450/500 programs.
Earnings before interest, taxes and fair value measurement of derivative
financial instruments (EBIT) amounted to EUR 6.0 million for the first half of
2015/16 (H1 2014/15: EUR -14.5 million). This increase in earnings of EUR 20.5
million compared to the same period of the previous year is mainly attributable
to higher product deliveries along with the adoption of operating measures aimed
at boosting efficiency and cutting costs.
Based on the orders currently booked for the remaining quarters, the management
of FACC AG assumes that this positive development of both revenues and earnings
will continue over the year. Due to a number of seasonality effects, a high
single-digit percentage increase is to be expected.
Besides, the company continues to press ahead with the implementation of the
FACC Operational Excellence Initiatives with a view to considerably reducing
direct production costs along with fix expenses and costs of materials on hand.
Meeting the earnings targets for the 2015/16 financial year will largely depend
on the successful implementation of efficiency measures in connection with the
above-mentioned increase in output rates for new projects and the completion of
customer negotiations currently underway.
The Report ist available via http://www.facc.com/en/Investor-Relations/Reports
end of announcement euro adhoc
issuer: FACC AG
A-4910 Ried im Innkreis
sector: Industrial Components
stockmarkets: Regulated free trade: Wien
Digital press kit: http://www.ots.at/pressemappe/7665/aom