Facc Ag · VIE:FACC
Facc — FY2023 Earnings Presentation
22 slides from Facc's earnings presentation, Mar 27, 2024
Slide 1: Financial Year 2023 – Beyond Horizons
Classified by FACC: TLP AMBER bEYoND Horizons WELCOME TO THE WORLD OF FACC FACC AG – Confidential and/or Proprietary Financial Year 2023 March 27th, 2024
Slide 2: Market outlook
Classified by FACC: TLP AMBER FACC AG – Confidential and/or Proprietary market outlook Robert Machtlinger, CEO 2 3/27/2024
Slide 3: Market highlights
Classified by FACC: TLP AMBER Market highlights GENERAL POSITIVE TREND IN THE AVIATION INDUSTRY CONTINUES SUPPLY CHAIN RPK Supply chain difficulties AIRCRAFT DELIVERY National- & international are still the main reason Aircraft deliveries in first for industry disruption RPK continue to rise with HI
Slide 4: Air traffic recovery
Classified by FACC: TLP AMBER Air traffic recovery GLOBAL DOMESTIC AND INTERNATIONAL REVENUE PASSENGER-KILOMETERS (RPKS), YOY % CHANGE VS. 2019 2023 was marked by strong industry-wide recovery Industry-wide revenue passenger- kilometers (RPKs) increased 25.3% year-on-year (YoY) in December In 2023,
Slide 5: Airbus & Boeing market share
Classified by FACC: TLP AMBER Airbus & boeing market share ORDERS & DELIVERIES CONTINUE TO INCREASE 10,7% +125,4% +122 AC 3.670 1.263 1.141 951 528 480 2.094 340 1.576 1.628 1.042 820 808 661 735 611 507 535 FACC AG – Confidential and/or Proprietary Airbus Boeing Total 2021 2022 2023 2021 2022 2023
Slide 6: Short haul dominates the market
Classified by FACC: TLP AMBER Short haul dominates the market A320, B737, A220 & C919 WITH HIGH CONSTRUCTION RATES UNTIL 2042 20% TYPE WIDEBODY 8,220 Aircrafts A350, B787, B777 40,850 Aircrafts until 2042 FACC AG – Confidential and/or Proprietary 80% TYPE SINGLE-AISLE 32,630 Aircrafts A320 Family, B
Slide 7: Market outlook
Classified by FACC: TLP AMBER Market outlook INCREASE IN AIRCRAFT CONSTRUCTION RATES / WE ARE BENEFITTING FROM ALL • FACC has a strong work share on Airbus platforms Monthly avg build rates OEM AC-Type Increase • A32F contracts represent approx. 40 % of our revenue 2023 2025 - 2026 • A350 & A220 con
Slide 8: Fiscal year 2023 At a glance
Classified by FACC: TLP AMBER Fiscal year 2023 FACC AG – Confidential and/or Proprietary At a glance Robert Machtlinger, CEO 8 3/27/2024
Slide 9: Key priorities 2023
Classified by FACC: TLP AMBER Key priorities 2023 ALL 2023 PRIORITIES ACHIEVED ➢ Sales growth approx. 12-16 % (planned) due to higher customer demands and ramp-up of new projects ➢ Ramp-up of New Projects (start of serial production) ➢ Focus on Cash Flow, Profitability and Leverage ▪ Positive Cash F
Slide 10: 2023 KPIs
Classified by FACC: TLP AMBER 2023 kpi‘s DEVELOPMENT OF ALL 3 FACC BUSINESS SEGMENTS AS PLANNED USD 5,8 billion Firm Order Backlog Market recovery continues, aircraft production rates & order backlog increases EUR 736 mil +31.3 % / +21.3 % sales growth in the (+21.3%) Group Revenue 1st half / 2nd ha
Slide 11: Financials
Classified by FACC: TLP AMBER FACC AG – Confidential and/or Proprietary financials Robert Machtlinger, CEO 11 3/27/2024
Slide 12: Revenue
Classified by FACC: TLP AMBER revenue STRONG INDUSTRY-WIDE RECOVERY Revenue development Revenue distribution in million EUR in % of total revenue Σ 801,3 Jan – Feb 2019 148,2 Mar – Dec 2019 FACC AG – Confidential and/or Proprietary 747,6 781,6 736,2 705,6 653,1 607,0 526,9 497,6 FY 2016/17 FY 2017/1
Slide 13: Revenue distribution 2022 vs. 2023
Classified by FACC: TLP AMBER revenue REVENUE DISTRIBUTION 2022 VS. 2023 Revenue distribution 2023 Revenue distribution 2022 in % of total revenue in % of total revenue FACC AG – Confidential and/or Proprietary 13 3/27/2024
Slide 14: EBIT
Classified by FACC: TLP AMBER ebit IMPACTED BY CHALLENGING ENVIRONMENT EBIT development 2023 Take Aways in million EUR Positive: Difficulties: 2024 Potentials: − Aerospace recovery in − SC instability leads to − More stable SCs progress stop & go production reduces costs without frequent stop & go M
Slide 15: Revenue and EBIT quarter by quarter
Classified by FACC: TLP AMBER Revenue and ebit QUARTER BY QUARTER Revenue development Reported EBIT development in million EUR in million EUR 222,3 14,9 192,0 12,5 187,4 162,7 159,1 149,4 142,7 127,5 3,0 3,1 FACC AG – Confidential and/or Proprietary 1,3 0,0 -1,9 -10,0 Q1 2022 Q2 2022 Q3 2022 Q4 2022
Slide 16: Division results
Classified by FACC: TLP AMBER Division results REVENUE AND EBIT IN LINE WITH EXPECTATIONS Aerostructures Engines & Nacelles Interiors in million EUR in million EUR in million EUR 272,4 129,7 334,1 Revenue EBIT 97,3 FACC AG – Confidential and/or Proprietary 235,1 274,6 13,5 12,9 1,0 4,0 0,5 -8,9 2022
Slide 17: Cashflow
Classified by FACC: TLP AMBER cashflow INCREASE IN INVENTORY DRIVEN BY VOLUME GROWTH Free cashflow – FY 2023 Free cashflow – FY 2022 in million EUR in million EUR FACC AG – Confidential and/or Proprietary 17 3/27/2024
Slide 18: Financial status
Classified by FACC: TLP AMBER Financial status IN A NUTSHELL – ENSURING STABLE LIQUIDITY Covenant Senior Debt and Cash (Key Elements Next testing (threshold of Net Debt/EBITDA and Equity Ratio) in thousand EUR 31.12.2023 31.12.2022 31.12.2023 ( 4.50) + equity ratio ( 25%) Promissory Notes 70 000 7
Slide 19: Financial status: investments and leverage
Classified by FACC: TLP AMBER Financial status CONTROLLED INVESTMENTS AND LOWER LEVERAGE Investments development Leverage (NetDebt/EBITA) development in million EUR Ratio 36,2 34,4 35,1 4,97 29,3 28,3 4,25 25,3 23,3 3,70 3,53 11,1* 3,28 13,1* 5,9* FACC AG – Confidential and/or Proprietary 17,6 11,6*
Slide 20: FACC outlook
Facc outlook FACC AG – Confidential and/or Proprietary Strength through Diversity 20 3/27/2024
Slide 21: Key priorities 2024
Classified by FACC: TLP AMBER Key priorities 2024 OUTLOOK ➢ Continue Sales growth approx. 10-15 % and use current momentum in the aerospace industry ramp-up ➢ Manage Industry Ramp-up, further stabilizing supply chains and leveraging the efficiency of trained employees ➢ Completion of plant 6 extensi
Slide 22: Thank you
Classified by FACC: TLP AMBER FACC AG – Confidential and/or Proprietary THANK YOU 22 3/27/2024