EANS-Adhoc: FACC AG / FACC reports significant improvement in earnings in Q3 2016/17
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Earnings Forecast/9-month report
-Dynamic revenue trend continued in Q3 2016/17 / +24% -Significant improvement
in earnings of +44% in Q3 2016/17 -3,419 employees on board: Headcount increase
stabilizing -Significant growth in revenues and earnings expected for the
business year 2016/17
In the first nine months of fiscal year 2016/17, FACC AG recorded sustained
strong growth thanks to the continued positive development in the civil
aviation industry - both in revenues and earnings.
In the first nine months of 2016/17, revenues amounted to EUR 525.1 million
(comparative period in 2015/16: EUR 427.8 million). This growth in revenues of
23% was mainly driven by a significant increase in product revenues of 25% or
EUR 94.6 million to EUR 480.3 million in the period under review. As in
previous quarters of 2016/17, the main drivers of product revenues were the
Airbus A320 family, the Airbus A350 XWB, as well as the continuing stable
development of the serial production of Boeing and Bombardier aircraft
The earnings development in the first nine months of 2016/17 developed within
the framework of expectations. In the first nine months of 2016/17, the
earnings before interest, taxes and fair value measurement of derivative
financial instruments (EBIT) amounted to EUR 16.0 Million (comparative period
in 2015/16: EUR 14.0 Million). The result of the current period under review
includes also nonrecurring expenses of 1.7 million EUR that are associated with
the "Fake President Incident". Costs for short-term personnel measures - such
as the increase in leased staff - led, because of the positive development of
programs, to a temporary increase in personnel costs in the first half of the
Outlook Thanks to FACC's balanced and modern product and customer portfolio,
the company can profit from the general growth trend currently underway in
almost all aircraft families.
Development work on the large projects is completed. The main focus of the
aviation industry currently lies on the ongoing development and
industrialization of these projects. With regard to product developments, we
are in a position to use our extensive experience in a targeted manner for the
further development of derivative aircraft models. We are currently witnessing
rising demand for engineering services for future applications, which we will
be able to provide moving forward. Thus, we are intensively pursuing and
driving forward cooperation for next-generation aircraft models.
The investments made by the FACC Group in the A350 XWB, B787, Legacy 450/500,
Bombardier CL 350, Global 7000/8000 new projects, to name only a few, are
showing sustainable effects. As a system supplier, FACC will profit
significantly from the serial ramp-up of these projects. In addition to
increasing revenues, this will also ensure a high degree of capacity
utilization at the company's plants.
In summary, against the backdrop of a continued solid business development over
the further course of the 2016/17 financial year, the company expects group
revenues to increase by 20% to approximately EUR 700 million. The operating
measures implemented in the course of the year to enhance efficiency are
gradually bearing their first fruits and will therefore contribute to a
significant improvement in earnings for the full year 2016/17.
Interim Report (EN Version) ?
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