EANS-Adhoc: FACC with strong sales growth and earnings development in FY 2016/17
Disclosed inside information pursuant to article 17 Market Abuse Regulation (MAR) transmitted by euro adhoc with the aim of a Europe-wide distribution. The issuer is responsible for the content of this announcement.
- Significant sales increase from EUR 580.2 million to EUR 705.7 million across all segments
- Operating result (EBIT) substantially improved
- Further expansion of Austrian locations and strong increase of employees
- Positive outlook thanks to continued growth in the aviation industry
In the financial year 2016/17, FACC AG remained on its growth course and posted a generally strong performance.
Backed by rising passenger numbers in air traffic and the resulting high aircraft deliveries, FACC generated revenues of EUR 705.7 million in the 2016/17 financial year. This means an increase of EUR 125.5 million or 21.6% compared to the previous year. Product revenues increased by 24.6% to EUR 646.1 million, with all three segments - Aerostructures, Engines & Nacelles and Interiors - contributing to this growth. In the year under review, the main drivers of product revenues were the Airbus A320 family, the Airbus A350 XWB, the Boeing 737 and 787 aircraft programmes as well as the Bombardier and Embraer business jet programmes. All the programmes, including the supply of a number of components for engines produced by Rolls-Royce und Pratt & Whitney, developed in line with FACC management's plans, delivered growth. "Over the last few years, we have significantly increased both our capacity and our efficiency through extensive Investments and have successfully launched series production of a number of projects," said Robert Machtlinger, CEO of FACC AG. "These measures have led to a sustained mprovement in the earnings situation in the 2016/17 financial year."
In the year under review, the operating result (EBIT) amounted to EUR 26.9 million (2015/16: EUR -58.8 million).
Because of the high order intake and the associated high utilization of plants, the number of employees also increased by 11% or 331 employees (FTE) compared to the previous year. As of 28 February 2017, total headcount amounted to 3,393 employees (FTE), of which 3,171 were employed in Austria. "The ramp-up of various projects went hand in hand with a massive increase in the number of employees," said Machtlinger. "The on-boarding of more than 300 new employees as well as the associated qualification measures posed a considerable challenge, which we were able to master brilliantly. "
The growth trend in the civil aviation industry is expected to continue moving forward. According to the market analysis of the major OEMs, passenger volumes will show a constant annual growth rate of roughly 5%. This results in the need for some 36,300 new commercial aircraft up to 2035. FACC is currently represented with innovative products on nearly all new aircraft developments. Moving forward, FACC will continue to pursue a sales target of one Billion euros for the 2020/2021 financial year in line with the company's "Vision 2020". For the coming years, the company expects to gradually increase the production rates of its most important programmes. 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. From today's perspective, the company expects a moderate growth in revenues for the 2017/18 financial year. "The economic environment is pleasing and provides a solid basis to continue moving forward successfully. Well-filled order books, strong demand over the long term, continuous innovation and a highly qualified team will also significantly contribute to our success," stressed Robert Machtlinger. "In the recent past, we have taken a number of important decisions and put in place a set of measures aimed at ensuring FACC's long-term profitable growth in the future."
end of announcement euro adhoc
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issuer: FACC AG Fischerstraße 9 A-4910 Ried im Innkreis
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