FACC AG Press Center
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General Terms & Conditions

Dear Sir/Madam,

Welcome to our Press Center. May we express our pleasure at the fact that you have chosen to use the pool of information regarding our company and its products and services. This information and content is made available by FACC AG, Fischerstraße 9, A - 4910 Ried im Innkreis, Austria, and we are more than willing to provide you with copy, photographic and film material for your reporting about our company. However, the employment of these services is subject to the proviso that you consent to the following terms of use.

The subsequent terms of use regulate the utilization of the content provided on the internet at https://press.facc.com/. Admission to the FACC AG Press Center, as well the functions and content to which it offers access, shall only take place in accordance with the aforementioned conditions. These include regulations related to data protection. Through the employment of the services and content provided, you offer confirmation of the fact that you have read and accepted the conditions.

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We retain the right to alter these terms of use, or modify them to match the service, in order for example to account for changes in the legal framework or our offer. Therefore, we would request you to examine the terms of use at regular intervals. Alterations to the terms of use will be published directly on the page. At the latest, a change to the terms of use will be published on the date upon which it comes into effect and is not seen as backdated.

Should individual provisions in these terms of use become invalid or contain a loophole, then the provision in question will be replaced by an effective provision that approximates most closely to the original provision. The validity of the other provisions remains unaffected.

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Should you prepare a report on the basis of the content provided, we would be very pleased if you would send us a free, specimen example of the publication to the following address or a link via e-mail.

FACC AG
Fischerstraße 9
4910 Ried im Innkreis
t +43/59/616-0
office@facc.com

We trust that our press service will provide your work with the best possible support and look forward to your report.

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Release from 01.07.2020

FACC strengthens financing structure and liquidity

FACC Beyond Horizons
  • Bond for EUR 90 million successfully redeemed
  • New EUR 60 million financing line completed

Against the background of considerable challenges posed by COVID-19, FACC AG is strengthening its financing structure and liquidity. The company is thus preparing itself for the further implementation of the cost reduction program started in 2019.

As planned, FACC AG redeemed the corporate bond (ISIN: AT0000A10J83) issued in 2013 for 90 million euros on 24 June 2020. In addition to existing syndicated credit lines, the basis for this was a promissory note loan for EUR 70 million issued in July 2019. Practically at the same time as the bond was repaid on time, negotiations were concluded on a new additional financing line with a volume of EUR 60 million as part of the COVID-19 assistance of the Austrian Kontrollbank (OeKB).

FACC Chief Financial Officer Aleš Stárek commented: "Despite the expected revenue and earnings losses due to COVID-19 in the current and probably also in the coming year, we can thus secure the necessary liquidity for the undiminished continuation of our cost reduction program. The program, which is expected to generate total annual savings of up to EUR 50 million, is already beginning to take effect in some areas".

In order to prepare itself even better for the serious effects of the pandemic on the aviation and aerospace industry, FACC recently defined an additional "corona savings program" of EUR 15 million, which is also already being implemented. In addition, FACC is planning talks with the core banks in fall about the temporary adjustment of the current syndicated financing to the changed conditions caused by COVID-19. Aleš Stárek: "With all these measures to strengthen our liquidity, we are also improving our starting position to overcome the Corona crisis. A further positive factor in this regard is our solid equity ratio, which we would like to maintain by waiving the dividend payment for the 2019 financial year".
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About FACC

FACC is a worldwide leading aerospace company in design, development and production of aerospace technologies and advanced aircraft lightweight systems. Being the technology partner of all major manufacturers, FACC works together with its customers on developing solutions for the mobility of the future. Every second, there is an aircraft taking off with FACC technology on board. In the fiscal year 2021, FACC achieved 497.6 million Euro in revenues. Approximately 3,000 people from 41 nations are employed at 13 international locations worldwide. FACC is listed on the Vienna Stock Exchange and part of the Fortune-500 Group AVIC, providing access to the largest growth markets within the industry. For more information please visit facc.com.

 

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FACC Beyond Horizons
FACC Beyond Horizons
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FACC Beyond Horizons
FACC Beyond Horizons

Against the background of considerable challenges posed by COVID-19, FACC AG is strengthening its financing structure and liquidity.

© FACC/Gortana

Contact

Florian Heindl
Florian Heindl
Group Treasurer
Treasury & Investor Relations / Risk Management
Mobile +43/664/80 119 1232
Phone +43/59/616-1232
E-Mail f.heindl@facc.com
FACC Beyond Horizons

FACC Beyond Horizons (. jpg )

Against the background of considerable challenges posed by COVID-19, FACC AG is strengthening its financing structure and liquidity.

© FACC/Gortana
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For all media requests, please contact us at press@facc.com.
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FACC AG
Fischerstraße 9
4910 Ried im Innkreis
Tel.: +43/59/616-0
Fax: +43/59/616-81000
office@facc.com
www.facc.com

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