Facc Ag · VIE:FACC
Facc — Investor Presentation (April 2023)
35 slides from Facc's investor presentation, Apr 12, 2023
Slide 1: FACC AG Investor Presentation
12.04.2023 1 FACC AG – Confidential and/or Proprietary
Slide 2: FACC Overview – At a Glance
FACC OVERVIEW AT A GLANCE 100% Turn Key 400 Aerospace technology & 3 Segments (Aero, Engine, Interior) Engineers to secure turnkey composite lightweight and global MRO Services capability Tier-1 3.000 FACC AG – Confidential and/or Proprietary Partner for all aerospace OEMs Employees from 45 nations
Slide 3: Milestones – Future Through Experience
MILESTONES FUTURE THROUGH EXPERIENCE 2014 IPO @ Vienna stock exchange 2013 Opening technology center 2000 New facilites & international expansion 2009 Member of AVIC Group 1999 2018 New business fields FACC AG – Confidential and/or Proprietary 1989 Conversion into FACC AG Company foundation Aftermar
Slide 4: Our Value Chain
OUR VALUE CHAIN DOA / POA / MOA Modification & Overhaul Research and development Repair Design & Analysis Inspection & Testing Certification & Test FACC AG – Confidential and/or Proprietary Production Qualification 4 Industrialization & Tooling 12.04.2023
Slide 5: Global Customer Network
GLOBAL CUSTOMER NETWORK FACC AG – Confidential and/or Proprietary Longstanding Relationships with all leading Aircraft and Engine Manufacturers 6 12.04.2023
Slide 6: Global Footprint
FACC GLOBAL FOOTPRINT Manufacturing Site Manufacturing Site FACC AG – Confidential and/or Proprietary Melbourne Manufacturing Site MRO Station 7 12.04.2023
Slide 7: New Location in Croatia – High Tech for Cabin Interiors
NEW LOCATION IN CROATIA HIGH TECH FOR CABIN INTERIORS ➢ State-of-the-art, efficient production facility for manufacturing cabin components for business jets and passenger aircraft ➢ Expansion to 200 employees in 2022 FACC AG – Confidential and/or Proprietary ➢ Further growth of additional 400 employ
Slide 8: Tier-1 Partner
TIER-1 PARTNER WIDE RANGE OF SERVICE – FROM PRODUCT IDEAS TO CUSTOMER TAILORED SOLUTIONS FACC AG – Confidential and/or Proprietary 10 12.04.2023
Slide 9: Products – Current Portfolio
PRODUCTS CURRENT PORTFOLIO 12.04.2023 12 FACC AG – Confidential and/or Proprietary
Slide 10: Securing Energy Supply
SECURING ENERGY SUPPLY ON THE WAY TO CO2-NEUTRAL PRODUCTION 44% 18% Electricity from ➢ Total energy consumption of FACC approx. 77.4 GWh Natural hydropower gas ➢ Two thirds of energy requirements from sustainable sources ➢ 98% of space heating from geothermal energy 14% ➢ 100% of electricity from re
Slide 11: Strategy FACC 2030
STRATEGY FACC 2030 Pillar 1: Focus on performance FACC best-in-class performer & reliable manufacturing and development partner. FACC continuously increases market share by securing new orders from existing customers. Pillar 2: Generating growth, securing sustainability FACC uses new technologies to
Slide 12: Market Overview
MARKET OVERVIEW 12.04.2023 18 FACC AG – Confidential and/or Proprietary
Slide 13: Positive Market Development
We are seeing a positive market development: ➢ Global recovery in air traffic ➢ Orders from major airlines such as Air India or Saudi Arabia FACC AG – Confidential and/or Proprietary ➢ Construction rates are continuing to rise ➢ Demand for 40,000 new aircraft by 2040 19 12.04.2023
Slide 14: Air Traffic Rises Strongly
AIR TRAFFIC RISES STRONGLY MARKETS RECOVER IN LINE WITH FORECASTS 118 % 111 % ➢ Pre-crisis level will be reached 103 % 101 % 93 % 92 % again in 2024 - intercontinental 82 % 69 % flights recover more slowly 61 % ➢ North- and Central-America region with the most positive Proprietary 27 % and/orProprie
Slide 15: Airbus & Boeing – Increase in Deliveries & Net Orders
AIRBUS & BOEING INCREASE IN DELIVERIES & NET-ORDERS +20,0% +61,7% +61,6% +190 AC +313 AC 1.141 +295 AC 951 820 774 480 Boeing 2021 340 Airbus 2022 507 479 Proprietary 611 661 and/orProprietary – Confidentialand/or 2021 2022 Airbus Boeing FACCAGAG– Confidential Deliveries 2022: Net Orders 2022: ➢ TOT
Slide 16: Demand for Aircraft
DEMAND FOR AIRCRAFT 39.490 DELIVERIES UNTIL 2041 ➢ 22.880 Aircraft in-service 46.930 beginning of 2020: ➢ 33% will stay in-service 15.440 Grow (including 2020 & 2021 deliveries) 39.490 New deliveries ➢ 67% will be replaced Proprietary and/orProprietary 24.050 Replace ➢ 39.490 new deliveries 2022- 22
Slide 17: Short-Haul Dominates Market
SHORT-HAUL DOMINATES MARKET A320, B737, A220 & C919 WITH HIGH CONSTRUCTION RATES 20% WIDEBODY TYPE 7,870 aircraft A350, B787, B777 39,490 aircraft FACC AG – Confidential and/or Proprietary 80% SINGLE-AISLE TYPE 31,620 aircraft A320 Family & B737 Source: Airbus GMF Notes: Passenger aircraft with more
Slide 18: Development of Traffic Flows
DEVELOPMENT OF TRAFFIC FLOWS AVERAGE DAILY DEPARTURE/ARRIVAL FLIGHTS FOR WEEK 15-21 MAR 2023 Region Avg Daily Flights vs prev week vs 2019 Intra-Europe 18.507 4% -12% Europe Middle-East 1.326 5% 0% Europe North Atlantic 1.003 0% 3% Europe North Africa 961 3% 1% Proprietary and/orProprietary Eu
Slide 19: Demand by Region 2022 - 2041
DEMAND BY REGION 2022 - 2041 80 % SINGLE-AISLE I 20 % WIDE-BODY 280 CIS 1580 1440 1270 EUROPA 1160 NORD & CIS 1330 AMERIKA 8140 6990 6560 CHINA 1470 8420 5720 MIDDLE 1530 EAST 7090 3000 250 220 FACC AG – Confidential and/or Proprietary AFRIKA 1690 LATEIN 1230 APAC Total AMERIKA 9160 39,490 2550 980
Slide 20: eVTOL Archer Midnight
EVTOL ARCHER MIDNIGHT FACC SUPPLIES FUSELAGE AND WING COMPONENTS ➢ Silicon Valley Startup from Santa Clara, California ➢ Cooperation with United Airlines, the European automotive group Stellantis and FACC as technology partner FACC AG – Confidential and/or Proprietary ➢ First delivery of FACC compon
Slide 21: Financials
FINANCIALS 12.04.2023 30 FACC AG – Confidential and/or Proprietary
Slide 22: Highlights of the 2022 Financial Year
HIGHLIGHTS OF THE 2022 FINANCIAL YEAR HIGH GROWTH Market recovery continues – aircraft production rates are rising 20 % increase in Group-Revenues to EUR 607 million in 2022 versus 2021 Operative EBIT at EUR 5.5 million - despite challenging environment FACC AG – Confidential and/or Proprietary Expa
Slide 23: Revenue and EBIT
REVENUE AND EBIT IMPACTED BY ONE-TIME SETTLEMENT OF PROJECT-RELATED DEVELOPMENT & BY CHALLENGING ENVIRONMENT Revenue development EBIT development in million EUR in million EUR Jan – Feb Σ 801,3 2019 Mar – Dec 2019 148,2 Mar – Dec 60,1 Σ 15,1 2019 43,6 Jan – Feb 25,0 22,1 2019 5,5 - 7,0 FACC AG – Con
Slide 24: Revenue per Aircraft Type
REVENUE PER AIRCRAFT TYPE Revenue distribution 2019 (Benchmark) Revenue distribution 2022 in % in % FACC AG – Confidential and/or Proprietary 33 4/12/2023
Slide 25: Revenue and EBIT – Quarterly
REVENUE AND EBIT REVENUE INCREASE IN LINE WITH MARKET FORECASTS Revenue development Reported EBIT development in million EUR in million EUR 187,4 3,1 2,5 3,0 1,3 0,4 0,1 149,4 139,3 142,7 -1,9 127,5 118,1 122,1 118,1 FACC AG – Confidential and/or Proprietary -28,0 Q1 2021 Q2 2021 Q3 2021 Q4 2021 Q1
Slide 26: Division Results
DIVISION RESULTS REVENUE AND EBIT IN LINE WITH EXPECTATIONS +21,3% +40,4% REVENUE -6,2% 261 275 [IN MEUR] 240 235 227 226 185 168 152 115 104 97 2019 SFY Aerostructures Engines & Nacelles Cabin Interiors 2020 2021 FACC AG – Confidential and/or Proprietary 2022 22,6 EBIT 4,0 6,0 8,7 [IN MEUR] 0,5 1,0
Slide 27: Free Cash-Flow
FREE CASH-FLOW HIGHER INVENTORIES BUILT UP SINCE THE BEGINNING OF THE YEAR FY 2022 FY 2021 in million EUR in million EUR FACC AG – Confidential and/or Proprietary 37 12.04.2023
Slide 28: Cash-Flow – Investment / Net Working Capital
CASH-FLOW INVESTMENT / NET WORKING CAPITAL Investments Net Working Capital in million EUR in million EUR -1,8 128,3 -4,0 122,8 124,4 * -2,5 -5,5 119,0 116,5 -9,5 -8,6 -11,7 -4,3 * -4,2 103,8 * -5,5 -8,3 FACC AG – Confidential and/or Proprietary -11,0 * -9,0 * -9,7 * -11,6 -17,6 -19,1 -23,3 30.09.202
Slide 29: Balance Sheet Key Figures
BALANCE SHEET KEY FIGURES DEVELOPMENT OF CAPITAL FIGURES Net Debt Leverage Development in million EUR ratio 238,1 213,4 211,5 197,0 4,97 188,6 177,8 4,25 3,53 3,28 FACC AG – Confidential and/or Proprietary 2,42 1,96 30.09.2021 31.12.2021 31.03.2022 30.06.2022 30.09.2022 31.12.2022 2016/17 2017/18 20
Slide 30: Financial Status
FINANCIAL STATUS (AFTER EFFECTIVE DATE – STATUS 14.3.2023) IN A NUTSHELL – ENSURING STABLE LIQUIDITY Covenant Senior Debt and Cash (Key Elements) in KEUR Next testing (threshold of Net Debt/EBITDA and Equity Ratio): 28.02.2023 31.12.2022 • 30.06.2023 (<4.5%) + equity ratio (> 25%) Promissory Notes 7
Slide 31: Outlook
FACC AG – Confidential and/or Proprietary OUTLOOK STRENGTH THROUGH DIVERSITY 41 12.04.2023
Slide 32: Outlook 2023
OUTLOOK 2023 POSITIVE MARKET DEVELOPMENT Positive market development ...in a challenging environment Measures to secure the future ➢ Further recovery of air traffic ➢ Securing the rate ramp-up through ➢ Ensuring rate ramp-up to meet → stable new orders and supply chain management customer requiremen
Slide 33: FACC Share and IR Information
FACC SHARE AND IR INFORMATION ISIN AT00000FACC2 ➢ Share Information ➢ Shareholder Structure ISIN AT00000FACC2 55,5 % AVIC Cabin Official market Vienna Stock Exchange/prime 44.5 % Systems Co., Limited Free float market Ticker symbol FACC Reuters FACC.VI FACC AG – Confidential and/or Proprietary Bloom
Slide 34: Thank You!
THANK YOU! 12.04.2023 49 FACC AG – Confidential and/or Proprietary
Slide 35: Disclaimer
DISCLAIMER FACC ➢ 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