EANS-Adhoc: FACC AG FACC climbed to new heights in Q1 2016/17
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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 solely responsible for the content of this announcement.
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Financial Figures/Balance Sheet/3-month report
13.07.2016
-Group revenues rose by 20.7% to EUR 164.9 million
-Significant increase in operating results and considerable growth across all
divisions
-Stable employer in the region with roughly 3,000 employees -recruiting
initiative will be continued
-The outlook for the current financial year remains very positive
The aviation industry is booming! As a result, the requirements of both our
customers and stakeholders are also constantly rising. FACC seeks to exploit the
opportunities provided by the market. In the first quarter of 2016/17, we were
able to significantly increase our product revenues by 23.3% to EUR 154.2
million. This growth was mainly driven by the Boeing 787 and 737, Airbus A321
and Airbus A350 XWB programmes. Group revenues, including revenues from
development services, totalled EUR 164.9 million in the period under review,
which corresponds to an increase of almost 21%!
The consistent implementation of measures to enhance efficiency, the
stabilisation of our numerous new projects and the consistent leverage of
automation potentials led to a significant improvement in earnings: FACC AG's
EBIT stood at EUR 2.6 million in the first quarter of 2016/17, thus more than
doubling compared to the same period in the previous year!
The planned increase in production rates and the resulting strong order intake
not only ensure a high degree of capacity utilisation at the company's sites for
the years to come but also create new jobs at our production plants in Upper
Austria. Therefore, our recruiting initiative will go on: this year alone, we
plan to hire roughly 250 new employees, for instance, in the purchasing, sales,
technology and production areas.
The first quarter of 2016/17 was not only characterised by operating
improvements but also by personnel changes. As a further consequence of the
"Fake President Incident", FACC AG's CEO Walter Stephan was dismissed by the
Supervisory Board with immediate effect in its meeting on 24 May 2016.
Management Board member Robert Machtlinger was appointed as interim CEO.
"Over the past few weeks, I have personally conducted open and constructive
discussions with all major business partners and customers. The general
sentiment is that FACC AG has the full trust and support of all customers,
suppliers, financial partners and employees," pointed out Robert Machtlinger.
"We have drawn the necessary conclusions from the Fake President Incident and
taken corresponding action. We are doing everything we can to minimise the
incurred loss. We are currently releasing the funds of EUR 10 million, which had
been previously frozen," so Machtlinger.
With Ales Stárek as the new CFO and George Maffeo as new Supervisory Board
member, FACC AG's management team can now rely on the support of two
internationally renowned top managers. "With Stárek and Maffeo, we have a good
setup and are well positioned to proactively exploit market chances and push
full steam ahead," so Machtlinger.
With optimism into the future
FACC is viewing the future with optimism. The products developed over the last
few years are increasingly starting serial production. Sales volumes of the A350
projects will more than double over the next two to three years, becoming a
major driver of the company's overall business development. In addition to the
series production of the A350 projects, current forecasts also envisage a
further increase in demand also for both the B787 and A320 programmes over the
next year or two. Following the delivery of the first C-Series aircraft models
to Swiss and the resulting increase in demand, further sustainable operating
growth is expected moving forward.
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 of the past ten to
twelve years, particularly for the A380, A350, B787 aircraft models, are
completed. The main focus currently lies on the optimal industrialisation of
these projects as well as on ongoing improvement projects.
The investments made by the FACC Group in the A350 XWB, B787, Legacy 450/500,
Bombardier CL 350 and Global 7000/8000 new projects 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 utilisation at the company's plants.
With roughly 3,000 employees, FACC is currently one of the largest employers in
the region. With the "FACC Vision 2020", we pursue the objective to continue to
grow from a position of strength, while consistently improving efficiency and
boosting profitability. To this end, a number of dedicated "Operational
Excellence" projects were launched. These projects aim to increase the degree of
automation in production, raise productivity and reduce products' processing
costs as well as to boost margins by outsourcing the production of simple
composite parts. The main objective of these activities is a general increase in
the overall productivity of 7 to 10% depending on the respective product mix.
For the full year 2016/17, FACC plans to achieve double-digit revenue growth. At
the same time, the main focus will be on the achievement of the earnings
targets, which the company will meet in line with the expectations of our
stakeholders.
In a nutshell: FACC AG looks to the future with great optimism and expects an
ongoing positive business performance.
Further inquiry note:
Investor Relations:
Manuel Taverne
Director Investor Relations
Mobil: 0664/801192819
E-Mail: m.taverne@facc.com
Presse:
Andrea Schachinger
Corporate Communication
Tel: 059/616-1194
E-Mail: a.schachinger@facc.com
end of announcement euro adhoc
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issuer: FACC AG
Fischerstraße 9
A-4910 Ried im Innkreis
phone: +43/59/616-0
FAX: +43/59/616-81000
mail: office@facc.com
WWW: www.facc.com
sector: Industrial Components
ISIN: AT00000FACC2
indexes:
stockmarkets: Regulated free trade: Wien
language: English
