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FACC : Financial Report 2026 Q1 (facc interim report q1 2026 1)
Published 4d ago
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FACC : Financial Report 2026 Q1 (facc interim report q1 2026 1)

INTERIM REPORT Q1 2026



‌Q1 2026 - HIGHLIGHTS

  • FACC is developing and manufacturing new cabin components for the Embraer Praetor 600E and Praetor 500E

    FACC has been selected by Embraer to develop and manufacture new interior components for the new Praetor 600E and 500E business jets.

  • FACC is setting up a new high-tech plant in Upper Austria

    By 2030, FACC plans to invest around EUR 350 million in new technologies and the expansion of its global sites in order to ramp up existing projects and secure new client projects. A key focus is on the company's Upper Austrian site: in St. Martin im Innkreis, a new high-tech plant for large-scale structural components (e.g. elevators and ailerons) is being built on a site covering approximately 20,000 m2. Around EUR 120 million is being invested in this undertaking. The project also includes a dedicated research division for future manufacturing technologies for the next generation of aircraft. Construction is scheduled to begin at the end of 2026, with commissioning planned for mid-2028, and full capacity is expected to be reached by the end of 2029. By 2030, approximately 300 new employees will be required for this expansion alone.

  • Revenue growth

Revenue grew from EUR 231.0 million in the first quarter of 2025 to EUR 258.2 million in the first quarter of 2026, representing an increase of 11.8 percent. Operating profit also improved relative to the first quarter of 2025, increasing from EUR 4.3 million to EUR 9.7 million.

‌Selected Group

Key Performance Indicators

01.01.2025-

31.03.2025

in EUR mill.

01.01.2026-

31.03.2026

in EUR mill.

Revenues

231.0

258.2

thereof Aerostructures

87.3

88.4

thereof Engines & Nacelles

43.8

44.1

thereof Interiors

99.9

125.6

Earnings before interest, taxes, depreciation and amortization (EBITDA) 1)

13.0

19.5

Earnings before interest and taxes (EBIT)

4.3

9.7

thereof Aerostructures

1.5

4.1

thereof Engines & Nacelles

6.3

4.8

thereof Interiors

-3.5

0.8

EBIT margin

1.9%

3.7%

Earnings after taxes

0.5

7.0

Earnings per share (in EUR)

0.01

0.15

31.03.2025

in EUR mill.

31.03.2026

in EUR mill.

Cash flow from operating activities

10.1

12.1

Cash flow from investing activities

-6.6

-3.2

31.03.2025

in EUR mill.

31.03.2026

in EUR mill.

Net working capital

165.8

184.5

Net financial debt

244.1

212.7

Equity ratio

31.6%

35.9%

Balance sheet total

712.3

680.7

Headcount (as at the balance sheet date)

3,896

4,017

01.01.2025-

31.03.2025

in EUR mill.

01.01.2026-

31.03.2026

in EUR mill.

Trading volume

3.951.858

10.129.184

Average daily trading volume

62.728

160.781

Yearly high

7.88

15.72

Yearly low

5.96

10.72

Closing price

7.36

12.96

Performance of period

18.3%

11.7%

Market capitalization

337.0

593.4

1) EBITDA is calculated as the sum of earnings before interest and taxes (EBIT), plus depreciation, amortization, write-downs, and the amortization of contract fulfillment costs.

‌Revenue and earnings development

Q1 2025

in EUR mill.

Q1 2026

in EUR mill.

Change

Revenues

231.0

258.2

11.8%

Earnings before interest and taxes (EBIT)

4.3

9.7

125.2%

EBIT margin

1.9%

3.7%

101.5%

Assets

712.2

680.7

-4.4%

Investments of the period

6.7

3.2

-52.3%

FACC was able to increase its revenue by 11.8 percent relative to the previous year. Group revenue in the first three months of 2026 amounted to EUR 258.2 million (comparative period 2025: EUR 231.0 million). The revenue drivers in the area of product sales remain unchanged compared to previous periods. Projects related to the Airbus A320 family continue to make the largest contribution to growth. With a share of 17.4 percent of total revenue in the first quarter, the business jet programs with Bombardier and Embraer rank second. Projects in the wide-body segment, particularly those involving the Airbus A350, are also progressing well.

The gross profit margin for the first three months of 2026 stood at

9.9 percent (comparative period 2025: 9.3 percent).

The Cost Reduction and Efficiency Improvement Program (CORE) is still being implemented.

Reported earnings before interest and taxes (EBIT) amounted to EUR 9.7 million in the first three months of 2026 (comparative period 2025: EUR 4.3 million).

The first quarter of the 2026 financial year (1 January - 31 March) progressed positively and in line with management expectations.

‌SEGMENT REPORTING

‌Aerostructures

Q1 2025

in EUR mill.

Q1 2026

in EUR mill.

Change

Revenues

87.3

88.4

1.3%

Earnings before interest and taxes (EBIT)

1.5

4.1

175.1%

EBIT margin

1.7%

4.7%

171.6%

Assets

277.2

239.2

-13.7%

Investments of the period

3.5

1.8

-47.8%

Revenue in the Aerostructures segment amounted to EUR 88.4 million in the first three months of 2026 (comparative period 2025: EUR 87.3 million). The Aerostructures segment is profiting from the increase in production rates for all aircraft, particularly in the short-and medium-haul aircraft segment such as the Airbus A320 and A220, and in the long-haul segment, which includes the Airbus A350.

Earnings before interest and taxes (EBIT) amounted to EUR 4.1 million in the first three months of 2026 (comparative period 2025: EUR 1.5 million).

‌Engines & Nacelles

Q1 2025

in EUR mill.

Q1 2026

in EUR mill.

Change

Revenues

43.8

44.1

0.8%

Earnings before interest and taxes (EBIT)

6.3

4.8

-23.9%

EBIT margin

14.3%

10.8%

-24.5%

Assets

129.2

138.5

7.2%

Investments of the period

1.3

1.2

-12.0%

Revenue in the Engines & Nacelles segment amounted to EUR 44.1 million in the first three months of 2026 (comparative period 2025: EUR 43.8 million). In this area, the increased demand for components for the Airbus A350 and Boeing B787 deserves special mention.

Earnings before interest and taxes (EBIT) in the Engines & Nacelles segment amounted to EUR 4.8 million in the first three months of 2026 (comparative period 2025: EUR 6.3 million).

‌Cabin Interiors

Q1 2025

in EUR mill.

Q1 2026

in EUR mill.

Change

Revenues

99.9

125.6

25.8%

Earnings before interest and taxes (EBIT)

-3.5

0.8

77.4%

EBIT margin

-3.5%

0.6%

82.1%

Assets

305.8

302.9

-0.9%

Investments of the period

1.9

0.2

-88.6%

Revenue in the Cabin Interiors segment amounted to EUR 125.6 million in the first three months of 2026 (comparative period 2025: EUR 99.9 million). The Cabin Interiors segment is also profiting from the increase in production rates for all aircraft, particularly in the short- and medium-haul aircraft segment such as the Airbus A320 and in the business jet segment.

Earnings before interest and taxes (EBIT) in the Cabin Interiors segment amounted to EUR 0.8 million in the first three months of 2026 (comparative period 2025: EUR -3.5 million).

‌Net asset and financial position

Inventories at the end of the first quarter 2026 stood at EUR 194.0 million (31 December 2025: EUR 175.7 million). In view of global developments, FACC continues to maintain higher inventory levels to ensure material availability.

Trade receivables increased to EUR 79.9 million as of 31 March 2026, compared to EUR 68.8 million as of 31 December 2025.

Cash and cash equivalents amounted to EUR 42.2 million as of 31 March 2026 (31 December 2025: EUR 52.7 million).

Investments in the first three months of 2026 amounted to EUR 3.2 million (comparative period 2025: EUR 6.6 million).

The company's net financial debt totaled EUR 212.7 million as of 31 March 2026 (31 December 2025: EUR 215.8 million).

The share capital of the company amounts to EUR 45.8 million and is fully paid up. It is divided into 45,790,000 no-par value shares with a nominal value of EUR 1.00 each.

‌Financing instruments Promissory note loans

On July 31, 2019, promissory note loans totaling kEUR 70,000 were issued. The individual tranches bear both fixed and variable interest rates and are due for repayment after five, seven, and ten years respectively. The financing agreements include an interest rate increase clause of 50 basis points if the net financial debt/EBITDA ratio exceeds 3.75. This interest clause was triggered in the 2020 financial year and ceased to apply from the 2024 financial year onwards. The ratio is tested annually. There is no termination right for the creditor.

On July 31, 2024, promissory note loans totaling kEUR 24,000 were issued for the partial refinancing of the matured promissory note loans (in the amount of kEUR 24,500) from July 31, 2019. The individual tranches bear both fixed and variable interest rates and are due for repayment after three, five, and seven years respectively. The financing agreements include an interest rate reduction clause of 25 basis points if the net financial debt/EBITDA ratio falls below 3.5. Additionally, creditors have a termination right if the equity ratio is less than 20 percent. The ratios are tested annually as of December 31. The financial covenants for these promissory note loans were met as of December 31, 2025. The Group expects the covenants to be fulfilled annually to be met within the next 12 months after the reporting date. As of the balance sheet date, December 31, 2025, the promissory note loan of July 31, 2019, was recorded at kEUR 45,500 (previous year: kEUR 45,500), and the promissory note loan of July 31, 2024, at kEUR 24,000 (previous year: kEUR 24,000).

‌Liabilities to banks

‌ Syndicated loan

The syndicated loan of kEUR 225,000, which was originally concluded on August 29, 2018, has been adjusted several times since then, most recently with five participating banks with effect from October 23, 2025. As of the balance sheet date, December 31, 2025, there are four facilities with different designated uses. Three of these facilities relate to OeKB programs. An OeKB participation financing facility originally amounting to kEUR 36,000, and an OeKB Exportinvest facility originally amounting to kEUR 33,526, were concluded as part of the amendment dated February 17, 2023. Both facilities mature on December 31, 2027. The OeKB Kontrollbank refinancing framework (KRR) in the amount of kEUR 50,000 was extended by one year until February 17, 2027, with effect from October 23, 2025. An OeKB Exportinvest facility originally amounting to kEUR 25,000, which formed part of the syndicated loan concluded on August 29, 2018, was repaid on June 30, 2025.The revolving credit facility with a volume of kEUR 95,500 was also extended by one year until February 17, 2027, effective as of October 23, 2025. FACC AG and FACC Solutions Croatia d.o.o. continue to act as guarantors. With the exception of the Kontrollbank refinancing framework and the participation financing facility, which are secured by receivables, all facilities are unsecured.

The following financial covenants have been defined:

30.06.2026

31.12.2026

Net financial debt/EBITDA

3.5

3.5

Equity ratio

25 %

25 %

The financial covenants of the syndicated loan applying at the end of a respective year also apply as of June 30 of the same year (e.g. 3.5 applies on June 30, 2026 and on December 31, 2026) and are tested bi-annually. If the ratios are exceeded, creditors have a termination right.

The Group expects the covenants to be fulfilled bi-annually to be met within the next 12 months after the reporting date.

As of year-end 2025, the revolving credit line had been drawn down by kEUR 20,000 (previous year: kEUR 25,000), the Kontrollbank refinancing framework by kEUR 50,000 (previous year: kEUR 50,000), the investment financing facility by kEUR 19,200 (previous year: kEUR 24,800), and the export investment facility by kEUR 17,881 (previous year: kEUR 25,179).

The syndicated loan matures in mid-February 2027 and December 2027, respectively. Based on current business developments, the FACC Group's plans, and regular discussions with banks, there are no indications that refinancing with existing financing partners will not be possible.

Loans outside the syndicated loan includes an interest rate reduction clause of 30 basis points if the net financial debt/EBITDA ratio falls below 3.0, and an interest

On September 17, 2024, a loan of kEUR 15,000 was taken out independently of the syndicated loan, but in accordance with the terms and conditions set forth therein, and was subsequently drawn down in full. The tranche bears a variable interest rate and is due for repayment after three years. The financing agreement

‌Outlook

The civil aviation market

The global aviation industry is set to maintain its growth trajectory in 2026, with demand for new aircraft remaining high. The resulting increase in production rates at OEMs continues to support positive market trends across all relevant aircraft programs. In particular, the short- and medium-haul segments, as well as the steady rise in production rates for long-haul platforms, are fueling overall growth.

At the same time, the market environment is shaped by ongoing volatility. Besides structural challenges in global supply chains, geopolitical tensions in particular are adding an additional layer of uncertainty. The current conflict in Iran is weighing heavily on air traffic due to airspace restrictions, rising energy prices, and potential fluctuations in demand. These factors may have a temporary dampening effect on aircraft deliveries in 2026, without, however, fundamentally altering the industry's long-term growth prospects.

Overall, a continuing growth trend is expected for the 2026 financial year, although the market conditions are expected to remain challenging.

FACC Group

FACC got off to a strong operational start in the 2026 financial year, reporting significant increases in both revenue and earnings in the first quarter. This development confirms the company's growing operational scaling and the effectiveness of its efficiency measures implemented. FACC is benefiting, in particular, from high and steadily increasing production rates for all high-volume programs.

rate increase clause if the net financial debt/EBITDA ratio exceeds 4.5.

As of year-end 2025, this bilateral loan had been drawn down by kEUR 15,000 (previous year: kEUR 15,000).

The Cost Reduction and Efficiency Improvement Program CORE is producing tangible results and will continue to be implemented consistently. CORE is increasingly contributing to improving FAC-C's operating profitability. The Group's financial position has continued to stabilize as planned. An improved equity ratio, reduced net debt, and a positive operating cash flow are strengthening the company's financial flexibility and providing a solid foundation for future growth.

FACC continues to make targeted investments in expanding its production capacities and technologies in order to meet future customer requirements and secure long-term growth potential. The planned expansion of its sites will strengthen the Group's strategic positioning and international competitiveness.

Customer orders on hand confirm management's growth fore-

casts, even after some adjustments to demand in response to the Iran crisis and bottlenecks in several OEM supply chains during the first quarter of 2026. Despite the conflict in Iran and the resulting potential impact on the aviation industry in 2026, management confirms the current outlook for the 2026 financial year and anticipates revenue growth in the range of 5 to 15 percent, as well as a further improvement in operating profit (EBIT).

This forecast is based on currently available customer planning data. The high degree of uncertainty regarding projected revenue growth is attributable to the turbulent global environment-par-ticularly regarding the conflict in Iran and its further progression.

‌Consolidated Profit and Loss Statement

‌for the period from 1 January 2026 to 31 March 2026

01.01.2025 -

31.03.2025

EUR'000

01.01.2026 -

31.03.2026

EUR'000

Revenues

230.955

258.180

COGS - Cost of goods sold

-209.446

-232.716

Gross profit

21.508

25.464

Research and technology expenses

-714

-799

Selling expenses

-2.113

-2.234

Administration expenses

-16.373

-15.222

Other operating income

2.181

3.630

Other operating expenses

-202

-1.183

Earnings before interest and taxes (EBIT)

4.288

9.657

Financing expenses

-4.212

-4.598

Other financial result

680

649

Financial result

-3.533

-3.948

Earnings before taxes (EBT)

755

5.708

Income taxes

-215

1.339

Earnings after taxes

540

7.047

Undiluted (=diluted) earnings per share (in EUR)

0,01

0,15

Issued shares

45.790.000

45.790.000

‌Consolidated Statement of Comprehensive Income

‌for the period from 1 January 2026 to 31 March 2026

01.01.2025 -

31.03.2025

EUR'000

01.01.2026 -

31.03.2026

EUR'000

Earnings after taxes

540

7.047

Currency translation differences from consolidation

-286

106

Cash flow hedges

13.369

-14.297

Cost of hedging

-1.696

-693

Tax effect

-2.685

3.448

Items subsequently reclassified to profit and loss

8.702

-11.436

Revaluation effects of termination benefits

59

13

Fair value measurement of securities (fair value through other comprehensive income)

-6

-5

Tax effect

-12

-2

Items not subsequently reclassified to profit and loss

42

5

Other comprehensive income after taxes

8.744

-11.431

Total comprehensive income

9.284

-4.383

‌Consolidated Statement of Financial Position

‌as of 31 March 2026

ASSETS

As of 31.12.2025 EUR'000

As of 31.03.2026 EUR'000

Intangible assets

8.281

7.988

Property, plant and equipment

173.424

170.795

Receivables from customer-related engineering

26.418

26.530

Contract assets

5.856

5.993

Contract costs

38.348

35.064

Other financial assets

455

450

Other receivables

11.331

11.432

Deferred taxes

26.572

32.018

Non-current assets

290.686

290.270

Inventories

175.670

194.048

Customer-related engineering

22.120

18.925

Trade receivables

68.849

79.921

Receivables from related companies

33.699

20.163

Current tax income receivables

293

514

Derivative financial instruments

10.036

376

Other receivables and deferred items

27.726

34.251

Cash and cash equivalents

52.749

42.221

Current assets

391.142

390.420

Balance sheet total

681.828

680.690

EQUITY AND LIABILITIES

As of 31.12.2025 EUR'000

As of 31.03.2026 EUR'000

Share capital

45.790

45.790

Capital reserve

221.459

221.459

Currency translation reserve

-1.359

-1.253

Other reserves

-216

-11.752

Retained earnings

-16.678

-9.631

Equity

248.996

244.613

Promissory note loans

26.500

26.500

Lease liabilities

59.482

57.885

Other financial liabilities

41.265

41.316

Derivative financial instruments

0

5.296

Investment grants

4.383

4.757

Employee benefit obligations

10.818

11.004

Other liabilities

3.337

1.707

Deferred tax liabilities

105

108

Non-current liabilities

145.891

148.573

Promissory note loans

43.000

43.000

Lease liabilities

10.881

11.098

Other financial liabilities

87.415

75.125

Derivative financial instruments

1

7.325

Contract liabilities from customer-related engineering

12.111

12.466

Trade payables

89.947

94.750

Liabilities from related companies

20.203

11.345

Investment grants

969

969

Income tax liabilities

1.481

2.109

Other provisions

3.725

663

Other liabilities and deferred items

17.207

28.654

Current liabilities

286.940

287.504

Balance sheet total

681.828

680.690

‌Consolidated Statement of Changes in Equity

‌for the period from 1 January 2026 to 31 March 2026

Attributable to shareholders of the parent company

Share capital

EUR'000

Capital reserve

EUR'000

Currency translation

reserve EUR'000

As of 1 January 2025

45.790

221.459

-564

Earnings after taxes

0

0

0

Other comprehensive income after taxes

0

0

-286

Total comprehensive income

0

0

-286

As of 31 March 2025

45.790

221.459

-850

As of 1 January 2026

45.790

221.459

-1.359

Earnings after taxes

0

0

0

Other comprehensive income after taxes

0

0

106

Total comprehensive income

0

0

106

As of 31 March 2026

45.790

221.459

-1.253

Attributable to shareholders of the parent company

Other reserves

Securities - fair value through other comprehensive income

EUR'000

Cost of hedging

reserve EUR'000

Reserve for cash

flow hedges

EUR'000

Reserves IAS 19

EUR'000

Retained earnings

EUR'000

Total equity

EUR'000

-26

-1.883

-7.306

-3.766

-37.862

215.842

0

0

0

0

540

540

-5

-1.306

10.294

46

0

8.744

-5

-1.306

10.294

46

540

9.284

-30

-3.189

2.988

-3.720

-37.321

225.126

-24

-2.176

5.074

-3.090

-16.678

248.996

0

0

0

0

7.047

7.047

-4

-533

-11.008

10

0

-11.431

-4

-533

-11.008

10

7.047

-4.383

-28

-2.709

-5.934

-3.080

-9.631

244.613

‌Consolidated Statement of Cash Flows

‌for the period from 1 January 2026 to 31 March 2026

01.01.2025 -

31.03.2025

EUR'000

01.01.2026 -

31.03.2026

EUR'000

Earnings before taxes (EBT)

755

5.708

Plus financial result

3.533

3.948

Earnings before interest and taxes (EBIT)

4.288

9.657

Plus/minus

Depreciation, amortization and impairment

6.322

6.573

Amortization contract costs

2.440

3.284

Additions contract costs

0

0

Income from the reversal of investment grants

-68

-76

Change in employee benefit obligations

279

199

Other non-cash expenses/income

-822

-4

12.438

19.632

Change in working capital

Change in inventory and customer-related engineering

-8.380

-14.758

Change in trade receivables and other receivables, deferred items, receivables from customer-related engineering and contract assets

-4.103

3.427

Change in trade payables and other liabilities

11.907

6.684

Change in current provisions

-1.739

-3.063

Cash flow from ongoing activities

10.124

11.923

Interest received

198

209

Income taxes paid

-175

-11

Cash flow from operating activities

10.148

12.121

Payments for the acquisition of non-current assets

-6.705

-3.200

Proceeds from the disposal of non-current assets

94

0

Cash flow from investing activities

-6.611

-3.200

Proceeds from interest-bearing liabilities

0

5.000

Repayments of interest-bearing liabilities

2.851

-17.290

Outflows from leasing agreements

-2.688

-2.820

Interest paid

-5.623

-4.692

Cash flow from financing activities

-5.460

-19.803

Net changes in cash and cash equivalents

-1.923

-10.882

Cash and cash equivalents at the beginning of the period

59.014

52.749

Effects from foreign exchange rates

2.707

355

Cash and cash equivalents at the end of the period

59.797

42.221

‌Selected Notes

to the Consolidated Financial Statements for the 1st quarter of 2026

‌NOTE WAIVER OF AUDIT REVIEW‌

The Condensed Consolidated Interim Financial Statement as of March 31, 2026, has been prepared in accordance with the rules and regulations of "Prime market - Section Interim Reports" of the Vienna Stock Exchange.

The reporting currency is the Euro (EUR). All figures presented in the Condensed Consolidated Interim Financial Statement are quoted in thousands of euros (EUR'000), unless otherwise stated.

Rounding errors may occur when adding rounded amounts and percentages due to the use of automated calculation aids.

The present Consolidated Interim Financial Statement has neither been audited nor reviewed.

Ried im Innkreis, May 6, 2026

Robert Machtlinger m. p.

Chairman of the Management Board

Florian Heindl m. p.

Member of the Management Board

Tongyu Xu m. p.

Member of the Management Board

‌Investor Relations

‌BASIC INFORMATION ABOUT THE FACC SHARE

‌SHAREHOLDER STRUCTURE AND SHARE CAPITAL

FACC AG's share capital amounts to EUR 45,790,000 and is divided into 45,790,000 no-par value shares. The Aviation Industry Corporation of China holds 55.5% of voting rights of FACC AG via AVIC Cabin System Co. Ltd (previously FACC International). The remaining 44.5% of shares are free float and are held by both international and Austrian investors.

FACC AG did not hold any treasury shares at the end of the reporting period.

International Securities Identification Number (ISIN)

AT00000FACC2

Currency

EUR

Stock market

Vienna (XETRA)

Market segment

Prime market (official trading)

Initial listing

25.06.2014

Issue price

9.5 EUR

Paying agent

ERSTE GROUP

Indices

ATX, ATX GP, ATX IGS, ATX Prime, WBI

Share class

Ordinary shares

Ticker symbol

FACC

Reuters symbol

FACC.VI

Bloomberg symbol

FACC AV

Shares outstanding

45,790,000 shares

44.5%

Free float

55.5%

AVIC Cabin Systems Co., Limited

‌CONTACT

Tanja Maisenberger

Director Investor Relations Phone +43 59 616 1320

Mobile +43 664 80 119 1320

t.maisenberger@facc.com

FACC AG

Fischerstraße 9

A-4910 Ried im Innkreis

P: +43 59 616-0

F: +43 59 616-81000

office@facc.com https://www.facc.com