Facc Ag · VIE:FACC
Facc — Q3 2024 Earnings Presentation
24 slides from Facc's earnings presentation, Nov 12, 2024
Slide 1: FACC AG – Confidential and/or Proprietary
FACC AG – Confidential and/or Proprietary
Slide 2: Q3 2024 presentation, 12.11.2024
12.11.2024 FACC AG – Confidential and/or Proprietary
Slide 3: Market environment
▪ Increases in aircraft build rates for all major aviation programs ▪ Step by Step increase in demand for short- and medium-haul aircraft and business jets ▪ Rising demand for wide-body aircraft ▪ COMAC C919 series ramp-up phase ongoing ▪ Urban Air Mobility development projects progressing as planne
Slide 4: Aircraft deliveries and net orders 2024 1-9
-8% -71 3.407 859 788 2021 371 2.094 2022 291 Boeing 1.594 2023 1.313 Airbus 986 2024 1-9 820 774 723 488 497 648 507 479 75 FACC AG – Confidential and/or Proprietary 2023 1-9 2024 1-9 Airbus Boeing Total Deliveries 2024 1-9: Net Orders 2024 1-9: > TOTAL: 788 AC (-71 AC / -8%) > TOTAL: 723 AC or 21
Slide 5: Order backlog by OEM, category and region
2% 5% 2% 4% 9% 2% 4% 4% 1% 14% 8% 41% by OEM 51% by Category by Region 36% 18% 79% FACC AG – Confidential and/or Proprietary 20% Airbus Comac Others Single-Aisle Regional Jet Asia Middle East Africa Boeing Embraer Wide-Body Turboprop North America Latin America Unknown Western Europe Eastern Europe
Slide 6: FACC AG – Confidential and/or Proprietary
FACC AG – Confidential and/or Proprietary
Slide 7: Highlights Q3 2024 YTD
firm order backlog Market recovery continues. Aircraft production rates rise, but ramp up challenges remain . revenue 25.1% increase in revenue in Q3 YTD 2024 compared to Q3 YTD 2023. FACC benefits from project ramp ups and AAM operating EBIT Operating EBIT + EUR 21.8 mill. Q3 YTD 2024 compared to +
Slide 8: Revenue distribution
Revenue distribution Q3 2024 YTD Revenue distribution 2023 in % of total revenue in % of total revenue FACC AG – Confidential and/or Proprietary 8 12.11.2024
Slide 9: Site expansion
Expansion NORTH OFFICE Building Expansion SOUTH FACC AG – Confidential and/or Proprietary ✓ Main construction work completed May 2024 ✓ Photovoltaic Equipment installed (0,5 MWp) ✓ 1 million labor hours capacity with work transfers progressing ✓ Automated paint line – start of operation in Oct. 2024
Slide 10: Training and workforce ramp-up
18-month intensive planning and implementation phase FACC AG – Confidential and/or Proprietary ▪ Training and education for existing & new crew members ▪ Training programs that are focused on production processes, quality, safety and FACC culture ▪ Language courses and onboarding support for all new
Slide 11: COMAC C919 project in China
▪ COMAC C919 rates gradually increasing ▪ Project transfer to FACC’s strategic supplier in China started in Q1/2024 ▪ First parts produced & accepted by customer & authorities ▪ Ramp up is progressing well ▪ From Q2/2025 onwards, parts are produced in China and delivered directly to the customer’s F
Slide 12: FACC AG – Confidential and/or Proprietary
FACC AG – Confidential and/or Proprietary
Slide 13: Revenue and EBIT development Q3 YTD
Revenue development Q3 YTD EBIT development Q3 YTD in million EUR in million EUR 1.000 100 CAGR 21,6% 800 781,6 801,3 60,1 747,6 736,2 705,6 50 43,6 642,6 Ø 672 25,0 607,0 17,5 21,8 600 15,1 FACC AG – Confidential and/or Proprietary 526,9 5,5 497,6 0 400 -25,1 -50 200 -74,4 0 -100 FY FY FY CY 2019 F
Slide 14: Segment revenue development
AEROSTRUCTURES ENGINES & NACELLES INTERIORS [Revenue in million EUR] [Revenue in million EUR] [Revenue in million EUR] 300 300 300 250 250 250 CAGR +20% CAGR +25% 200 200 200 150 150 150 and/or Proprietary Proprietary 255 267 CAGR +31% 226 100 195 100 100 184 Confidential and/or 164 161 50 121 50 12
Slide 15: EBIT to free cash flow bridge
Q3 2024 YTD Q3 2023 YTD in million EUR in million EUR 30,1 50,2 5,5 0,8 25,1 28,4 5,0 21,8 58,5 55,2 FACC AG – Confidential and/or Proprietary 19,6 14,2 -22,4 -40,1 Reported Depreciation, EBITDA Other Changes Net Free Reported Depreciation, EBITDA Other Changes Net Free EBIT Amortisation, in Working
Slide 16: Investments and inventory
Investments Q3 YTD Inventory Q3 YTD in million EUR in million EUR 45 200 190,5 35,1 36,2 158,6 34,4 150 30 29,3 28,3 130,6 123,8 122,8 25,3 113,4 116,3 23,7 105,6 FACC AG – Confidential and/or Proprietary 23,3 11,1 13,1 5,9 3,7 100 90,8 17,6 11,6 15 9,0 50 18,2 19,4 20,0 15,2 11,7 8,6 0 0 2016/17 20
Slide 17: Net financial debt and leverage
Net Financial Debt Q3 2024 Leverage (Net Financial Debt/EBITA) Q3 2024 in million EUR in million EUR 300 6 255,3 4,97 250 232,1 213,2 209,3 4,25 197,0 188,6 200 181,9 3,70 180,9 177,8 3,53 3,28 3,33 FACC AG – Confidential and/or Proprietary 150 3 2,42 1,96 100 N/A 50 0 0 2016/17 2017/18 2018/19 2019
Slide 18: FACC AG – Confidential and/or Proprietary
18 FACC AG – Confidential and/or Proprietary
Slide 19: Outlook 2024
▪ Revenue growth is expected to be in a range of 10 to 20 percent compared to the previous year ▪ Management expects an EBIT margin of between 3 and 4 percent for the 2024 financial year ▪ Management focus areas for Q4/2024 and going forward: o Focus on industry ramp up and secure quality, safety an
Slide 20: FACC AG – Confidential and/or Proprietary
20 FACC AG – Confidential and/or Proprietary
Slide 21: Segment revenue FY2020 to Q3 2024
Aerostructures Engines & Nacelles Interiors Revenue in million EUR Revenue in million EUR Revenue in million EUR CAGR +21% 350 CAGR +28% 350 350 334,1 300 300 300 272,4 274,6 266,5 254,9 250 235,1 250 250 226,9 226,4 184,7 FACC AG – Confidential and/or Proprietary 200 200 CAGR +12% 200 167,5 150 150
Slide 22: Segment EBIT FY2020 to Q3 2024
Aerostructures Engines & Nacelles Interiors EBIT in million EUR EBIT in million EUR EBIT in million EUR 20 20 20 13,5 15,3 12,9 11,5 10 10 8,7 10 4,0 0,5 1,0 0 0 0 FACC AG – Confidential and/or Proprietary -10 -10 -10 -5,2 -5,0 -8,9 -20 -20 -20 -22,9 -24,7 -30 -26,7 -28,5 -30 -30 -40 -40 -40 FY 2020
Slide 23: FACC AG – Confidential and/or Proprietary
23 FACC AG – Confidential and/or Proprietary
Slide 24: Forward-looking statements 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 statements. ▪ Forward-looking statements are subject to futur