Release from 13.11.2024

FACC with strong revenue increase in the third quarter of 2024

  • Revenue up +25.1 % to EUR 642.6 million year-on-year
  • EBIT in the first 9 months of 2024 at EUR 21.8 million (comparable period 2023: EUR 5.0 million)

The continued strong growth of the aviation industry and the associated high demand for passenger aircraft continues in the third quarter of 2024. FACC AG is benefiting disproportionately strong from this growth trajectory and was able to increase its revenue by +25.1 % to EUR 642.6 million in the first nine months of the 2024 financial year (previous year: EUR 513.9 million). EBIT of EUR 21.8 million more than quadrupled year-on-year (previous year: EUR 5.0 million).

Earnings are impacted by the sharp rise in location costs in Europe in general and in Austria in particular and as well by one-off costs for newly launched projects. For this reason, a cost reduction program is currently being implemented, which will lead to a gradual and sustainable increase in profitability from 2025 onwards. In addition, a project to reduce the sharp increase in inventories is currently being implemented, which will lead to a significant improvement of operating cash flow in 2025.

FACC Academy starts operations

After an 18-month intensive planning and implementation phase, the new FACC Academy was put into operation in September 2024. The aim of the training centre is to train the high number of new and increasingly international employees to meet the needs of FACC. The training programme ranges from language courses to product- and process-specific training and supports both the initial qualification of new colleagues and the upskilling of the existing crew. The shortage of skilled workers is thus actively counteracted in order to support the growth of the company to the maximum.

FACC researches the reuse of lightweight materials from the aerospace industry

As a leading manufacturer of the international aerospace industry, FACC AG has made significant progress in the research of thermoplastic composites in recent years. These enable efficient and highly automated production – while at the same time components can be reused at the end of their product life cycle. In commercial aviation as well as in the dynamic sector of advanced air mobility, this represents a decisive competitive advantage.

Together with 13 European partners, the further use of these innovative lightweight materials is now being further advanced in a European research project. FACC is thus further expanding its high level of expertise in the development and production of innovative lightweight materials and is making a significant contribution to an even more sustainable aviation industry.

Outlook

The outlook for the 2024 financial year has been slightly revised. Revenue growth is now expected to be in a range of 10-20 % compared to the previous year. Operationally, management expects a positive consolidated operating result (EBIT margin) of between 3 and 4 % for the 2024 financial year. In the fourth quarter of 2024, FACC AG will increasingly focus on the implementation of cost reduction and efficiency measures and continue to drive FACC's profitable growth in all segments – while at the same time meeting customer needs.
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 2024, FACC achieved EUR 884,5 million in revenues. More than 3,800 people from +50 nations are employed at 15 international locations worldwide. The company is listed on the Vienna Stock Exchange. For more information please visit facc.com.

 

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FACC with strong revenue increase in the third quarter of 2024
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Contact

Jakob Reichsöllner-Frischling
Jakob Reichsöllner-Frischling, MA
Corporate Spokesperson
Cell: +43/664/80119-2089
Email: j.reichsoellner-frischling@facc.com