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FACC Continues to Climb in the Third Quarter 2017/18

Published: January 16, 2018; 07:37 · (Vindobona)

Revenues for the first nine months of 2017/18 amount to EUR 564.0 million (comparative period 2016/17: EUR 518.6 million). The increase of 8.8% is attributable to a further significant increase in product sales of 11.4% to EUR 527.8 million.

FACC Continues to Climb in the Third Quarter 2017/18 / Picture: © FACC

* Revenues increased by 8.8 % at record level of EUR 564.0 mill.
* Strong increase in product related revenues and ongoing high utilization in
all segments
* Earnings significantly above previous years level
* Market demand for new efficient aircrafts remains at high levels
* Management confirms positive outlook for the business year

Unchanged from the previous periods, the growth drivers remain in the area of
product sales. The Boeing 737, Boeing 787, Airbus A320 Family, Airbus A330,
Airbus A350 XWB and Bombardier Challenger 350 and Embraer Legacy 450/500
programs, as well as revenue from the respective engine families, continue to
contribute to the Group's growth. In addition, stable revenues from the
Bombardier C-Series and Global 5000/6000 Business Jets programs contributed to
growth.

Earnings before interest, taxes (EBIT) amounted to EUR 61.7 million in the first
nine months of 2017/18 (comparative period 2016/17: EUR 5.6 million). The
increase in product deliveries and the sustained implementation of operational
measures continue to lead to a significant increase in operating earnings
compared to previous periods.

Furthermore, positive one-time effects amounting to EUR 21.5 million were taken
into account in the consolidated profit for the first nine months. Of this
amount, EUR 15.9 million is attributable to the Engines & Nacelles segment and
EUR 5.6 million to the Interiors segment. Adjusted for these effects, the
Group's EBIT in the first nine months amounts to EUR 40.1 million.

Growth and earnings improvments in all segments

All three segments - Aerostructures, Engines & Nacelles and Interiors - reported
increases in both sales and EBIT in the first nine months of 2017/18 compared to
the prior-year period. Following a negative EBIT in the same period of the
previous year, the Engines & Nacelles and Interiors segments, as expected,
contributed to the EBIT turnaround by successfully implementing efficiency
improvements, learning curve effects and automation measures.

Outlook

The growth trend in the civil aviation industry will continue in the future
according to the current market assessments: Analyzes of the OEMs confirm the
constant annual increase in passenger volume of around 5%. Over the next 20
years, the fleet of aircraft worldwide will more than double from currently
21,000 commercial aircraft (Source: Market Outlook - Boeing 2017) to 46,950
aircraft by 2036. From the existing fleet 17,900 aircraft will be taken out of
service and replaced by modern aircraft. According to this assessment, there is
a need for 41,000 new aircraft within the next 20 years. The demand for business
jets is also gradually recovering following the significant slump in the global
financial crisis in 2008. According to experts, the business jet market is set
to climb into a climb over the next ten years.

The management is sticking to the goals of the year as a whole and, from today's
perspective, expects sales to increase to around EUR 740 - 750 million. Based on
the milestone achieved in the context of efficiency and cost optimization
initiatives, management expects a significant increase in earnings compared to
the previous year, and expects an operating result (adjusted for one-time
effects) of EUR 45-50 million for the 2017/18 financial year. This corresponds
to an EBIT margin of approximately 6%.

Further inquiry note:
Manuel Taverne
Director Investor Relations
+43/664/80119 2819
m.taverne@facc.com

end of announcement euro adhoc
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Attachments with Announcement:
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http://resources.euroadhoc.com/documents/3124/0/10096063/1/FACC-Zwischenbericht_Q3_EN.pdf

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
ISIN: AT00000FACC2
indexes:
stockmarkets: Wien
language: English

Digital press kit: http://www.ots.at/pressemappe/7665/aom

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