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Off for Airbus A380 cuts FACC gain

It was already announced in February, now comes the confirmation: The end of the production of the Airbus A380, the world's largest passenger airliner, for 2021, leaves deep cuts in the balance of the listed Innquertler FACC provider.

Operating result (EBIT) decreased by 27.3% to EUR 43.6 million in the previous financial year. Profit after tax fell 18% to EUR 30.3 million. The ratio of equity dropped from 46 to 41%. Among the shareholders, these figures are not doing well: stocks meanwhile lost almost six percent of their value and closed at 12.76 euros and minus 5.2 percent.

However, FACC Executive Director Robert Mahttigler is optimistic about Vienna's balance sheet performance: "The end of the A380 is profitable for us because it's just 1.4% of the sales." The Governing Council decided to write off the non-amortized development work for the A380 amounting to EUR 11.4 million in one step. "We will be released from this in 2020 and 2021," says Mahtgler.

Sales of FACC have increased. A plus of 4.6% to about 782 million euros led Matzlinger and Finance Director Ales Stareck to increase production for the two largest aircraft and Airbus and Boeing aircraft manufacturers. FACC manufactures landing lugs, luggage racks, and torsion reversing housings.

The group has complete order books for the next five to seven years, Mahtlinger said. Upholstery amounts to $ 6.5 billion. In addition to the proven products, FACC begins with the Chinese company EHang with the production of 300 airlines.

It invests 30 million euros

In order to increase its growth, the provider expands its feelings towards new countries. In Croatia, a factory with 600 jobs is being built. "We want to expand our global network and expand the scope of skilled workers," Mahtglehr said. Construction is this year in October. The cost of about 30 million euros will be spent in addition to the current investment program of 100 million euros, the CEO said.

In the previous year, FACC invested € 35.1 million. This year it must be 35.7 million. Most of this goes into the expansion of plant 3 in Ort im Innkreis and in automation.

The number of employees has increased from 3,402 to 3,465 in 2018. For this year, FACC expects sales to show "moderate growth" and "little change" in revenues. The Executive Board continues to adhere to the medium-term target of turnover in billions. However, this amount should not be reached by 2022 – one year later than initially planned.



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