Facc Ag · VIE:FACC
Facc — H1 2021 Earnings Presentation
24 slides from Facc's earnings presentation, Aug 18, 2021
Slide 1: Q2/H1 2021
BEYOND HOR one) Q2/H1 2021 18th August 2021 a
Slide 2: H1 2021 Key Topics
H1 2021 KEY TOPICS Robert Machtlinger (CEO)
Slide 3: H1 / 2021 Key Topics
FACC AG | Confidential and/or Proprietary H1 / 2021 KEY TOPICS > Revenues in line with expectations: EUR 240.2 mln > Business Turnaround Plan execution on track with EUR 37.3 mln YOY EBIT improvement > Second consecutive EBIT-positive quarter in a row: H1-EBIT at EUR 2.9 mln > New orders in Aerostru
Slide 4: Aerospace Market
AEROSPACE MARKET
Slide 5: Business Environment
FACC AG | Confidential and/or Proprietary BUSINESS ENVIRONMENT Vaccine availability supports Aerospace market recovery > Customer demands and associated aircraft build rates continue to improve – Narrow-body planes with faster recovery pattern (eg Airbus A32F) – Wide-body planes with longer and - as
Slide 6: Global Market Overview
FACC AG | Confidential and/or Proprietary GLOBAL MARKET OVERVIEW Recovery is different among regions World markets Regions experience different recovery patterns and speed Vaccine availability and travel restrictions are the drivers and roadblocks North America leads the recovery After long
Slide 7: Global Market Overview
FACC AG | Confidential and/or Proprietary GLOBAL MARKET OVERVIEW Continental travel is steadily improving Passenger rates improving Vaccine availability as kick start in March 2021 International travel still subdued due to travel restrictions International traveling between Europe and North Am
Slide 8: Global Market Overview
FACC AG | Confidential and/or Proprietary GLOBAL MARKET OVERVIEW Steep increase in 2021 aircraft deliveries compared to 2020 172 H1 /2021 airplane deliveries 453 deliveries in H1/2021 versus 266 122 125 deliveries in H1 2020 indicate steep post- Covid recovery 77 79 Airbus delivered 297 aircraft
Slide 9: Market Development
FACC AG | Confidential and/or Proprietary MARKET DEVELOPMENT Mid- and longterm: stable upward trend > Market bottom reached in August 2020 > Stabilisation since then – growth forecast beginning with Q4/2021 > Short- and medium-haul aircraft with 10-15% growth beginning in Q4/2021 > Long-haul aircraf
Slide 10: Fleet Development
FACC AG | Confidential and/or Proprietary FLEET DEVELOPMENT Over 43,000 new aircraft / 40% going to asia-pacific region 10
Slide 11: Financials
FINANCIALS Aleš Stárek (CFO)
Slide 12: Revenues
FACC AG | Confidential and/or Proprietary REVENUES Market stabilization supports revenue stream Revenues Revenue details in million EUR 2nd quarter and 1st half-year marginally higher than planned 195,4 Q2 2021 revenues increased by 20% compared to Q2 2020, showing the stabilization of aerospace
Slide 13: EBIT
FACC AG | Confidential and/or Proprietary EBIT FACC successfully implemented cost reduction measures EBIT EBIT improvements in million EUR FACC successfully adapted its cost structure to the new market environment 11,3 Second positive EBIT quarter in a row 2,5 0,4 Division profit situation het
Slide 14: Aerostructures
FACC AG | Confidential and/or Proprietary AEROSTRUCTURES Revenue growth and EBIT turn-around Revenue EBIT in million EUR in million EUR 70,3 4,9 1,9 49,3 44,6 39,9 -0,8 32,5 32,6 -6,6 -5,8 -19,2 Q1 2020 Q2 2020 Q3 2020 Q4 2020 Q1 2021 Q2 2021 Q1 2020 Q2 2020 Q3 2020 Q4 2020 Q1 2021 Q2 2021 14
Slide 15: Engines & Nacelles
FACC AG | Confidential and/or Proprietary ENGINES & NACELLES B787 dragging on revenue, but EBIT supportive Revenue EBIT in million EUR in million EUR 46,3 2,2 2,0 2,0 28,3 26,6 24,9 23,3 17,4 -6,6 -8,0 -10,5 Q1 2020 Q2 2020 Q3 2020 Q4 2020 Q1 2021 Q2 2021 Q1 2020 Q2 2020 Q3 2020 Q4 2020 Q1 2021 Q2 2
Slide 16: Cabin Interiors
FACC AG | Confidential and/or Proprietary CABIN INTERIORS Positive revenue development Revenue EBIT in million EUR in million EUR 78,7 4,2 51,5 54,2 54,2 49,9 -0,8 -1,4 42,4 -5,3 -7,5 Q1 2021 -16,1 Q1 2020 Q2 2020 Q3 2020 Q4 2020 Q1 2021 Q2 2021 Q1 2020 Q2 2020 Q3 2020 Q4 2020 Q1 2021 Q2 2021 16
Slide 17: Free Cash Flow
FACC AG | Confidential and/or Proprietary FREE CASH FLOW Solid free CF in H1 2021 Free Cash Flow – H1 2020 Free Cash Flow – H1 2021 in million EUR in million EUR 17
Slide 18: Cash Flow
FACC AG | Confidential and/or Proprietary CASH FLOW Strict investment control INVESTMENTS WORKING CAPITAL in million EUR in million EUR 177,5 146,4 143,0 -5,7 -9,1 -15,2 1 30.06.2020 31.12.2020 30.06.2021 30.06.2020 31.12.2020 30.06.2021 18
Slide 19: Balance Sheet Figures
FACC AG | Confidential and/or Proprietary BALANCE SHEET FIGURES Encouraging capital KPIs EQUITY RATIO NET FINANCIAL DEBT in million EUR in million EUR 270,8 234,4 232,1 37,3% 243,2 238,7 225,2 37,4% 37,9% 1 1 30.06.2020 31.12.2020 30.06.2021 30.06.2020 31.12.2020 30.06.2021 19
Slide 20: Financial Status as of June 30th, 2021
FACC AG | Confidential and/or Proprietary FINANCIAL STATUS AS OF JUNE 30TH, 2021 Waiver agreement with banks moves next testing of leverage to 31.12.2021 Requirement: Net financial debt / EBITDA equal or less than 5.25 EUR 150 million in unused credit facilities available Senior Debt and Cash
Slide 21: Outlook
OUTLOOK
Slide 22: Outlook 2021
FACC AG | Confidential and/or Proprietary OUTLOOK 2021 Slightly positive EBIT expected Secure health and safety of our people with continuous company-wide vaccination program All cost reduction and cash flow improvement measures are executed according to the plan Stable market environment and
Slide 23: Disclaimer
FACC AG | Confidential and/or Proprietary DISCLAIMER This document contains forward-looking statements. Words such as ‘outlook’, 'believe', 'intend', 'anticipate', 'plan', 'expect', ‘objective’, ‘goal’, ‘estimate’, ‘may’, ‘will’ and similar expressions often identify these forward-looking statemen
Slide 24: FACC AG – Confidential and/or Proprietary
FACC AG – Confidential and/or Proprietary