Facc Ag · VIE:FACC
Facc — H1 2024 Earnings Presentation
26 slides from Facc's earnings presentation, Aug 14, 2024
Slide 1: HY 2024
HY 2024 AUG 14th, 2024 FACC AG – Confidential and/or Proprietary
Slide 2: The Market at a Glance
THE MARKET AT A GLANCE FACC AG – Confidential and/or Proprietary
Slide 3: Aviation highlights
Aviation highlights THE MARKET IS DEVELOPING POSITIVE ▪ Rising passenger numbers in all markets ▪ Stable increases in construction rates for all major aviation programs ▪ High demand for short- and medium-haul aircraft and business jets ▪ Rising demand for wide-body aircraft ▪ COMAC C919 is in the s
Slide 4: Airbus & Boeing
Airbus & Boeing DELIVERIES AND CUSTOMER ORDERS INCREASE -14% -84 AC 582 3.407 498 266 Boeing 175 2.094 Airbus 1.594 1.313 820 986 323 774 316 507 479 451 310 141 FACC AG – Confidential and/or Proprietary 2023 1-6 2024 1-6 Airbus Boeing Total Deliveries 2024 1-6: Net Orders 2024 1-6: 2021 > TOTAL: 49
Slide 5: Business jets with high demand
Business jets with high demand CONSISTENTLY HIGH DELIVERY RATES AT BOMBARDIER AND EMBRAER Bombardier Challenger 3500 +12,4 % 300 Bombardier Global 8000 250 200 115 93 102 150 100 45 Embraer Phenom 300 120 123 138 50 59 FACC AG – Confidential and/or Proprietary Embraer Phenom 100 EX 0 2021 2022 2023
Slide 6: Order backlog of the aviation industry
Order backlog of the aviation industry MARKET SHARES IN COMMERCIAL AVIATION PER JUNE 30TH, 2024 1% 3% 2% 4% 4% 2% 5% 4% 9% 13% 8% 40% 51% by OEM by Category by Region 35% 19% 80% FACC AG – Confidential and/or Proprietary 20% Airbus Boeing Comac Single-Aisle Wide-Body Asia North America Western Europ
Slide 7: 1st half-year 2024 Key Topics
1st half-year 2024 FACC AG – Confidential and/or Proprietary KEY TOPICS Robert Machtlinger, CEO 7 7 13.08.2024
Slide 8: Strong growth
Strong growth DEVELOPMENT OF ALL DIVISIONS IN THE FIRST HALF OF 2024 AS PLANNED Market recovery continues - Aircraft USD 5.80 billion production rates rise sharply Stable firm order backlog 23.6% increase in revenue in the 1st half of 2024 compared to the 1st half of EUR 438,3 Mio. 2023. All divisio
Slide 9: Revenue distribution H1 2024 vs. 2023
rEvENue REVENUE DISTRIBUTION H1 2024 VS. 2023 Revenue distribution H1 2024 Revenue distribution 2023 in % of total Revenue in % of total Revenue FACC AG – Confidential and/or Proprietary 9 13.08.2024
Slide 10: Expansion of the global footprint
expansion of the global footprint EXPANSION OF PLANT 6 IN JAKOVLJE (CROATIA) COMPLETED ▪ State-of-the-art plant for the production of components for cabin interiors ▪ Tripling of production areas, one additional office building ▪ Development of service capacities to support FACC's central functions
Slide 11: Comac C919 project transfer
Comac c919 project transfer SUCCESSFUL RELOCATION OF STRUCTURAL AND INTERIOR PARTS TO CHINA ▪ New Chinese Aircraft Comac C919 successfully certified for flight operations in 2023 ▪ Comac C919 rates gradually increasing ▪ Production and industrialization of first components (passenger cabin and wing
Slide 12: Financials
12 FINANCIALS 12 FACC AG – Confidential and/or Proprietary
Slide 13: Revenue & EBIT
rEvENue & EbiT RESULT INCREASE COMPARED TO THE PREVIOUS YEAR Revenue development EBIT development in million EUR in million EUR 236,0 14,9 222,3 12,5 12,7 202,4 9,9 192,0 FACC AG – Confidential and/or Proprietary 162,7 159,1 0,0 -10,0 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q1 2023 Q2 2023 Q
Slide 14: Development of the divisions
Development of the divisions ALL BUSINESS SEGMENTS GROW IN LINE WITH THE MARKET AEROSTRUCTURES ENGINES & NACELLES INTERIORS [Revenue in million EUR] [Revenue in million EUR] [Revenue in million EUR] 180 180 200 160 CAGR +31% 160 CAGR +21% 140 140 150 120 120 100 100 176 100 FACC AG – Confidential an
Slide 15: Free Cash Flow
frEE Cash Flow INCREASED, BUT FURTHER IMPROVEMENT NECESSARY H1 2024 H1 2023 in million EUR in million EUR FACC AG – Confidential and/or Proprietary 15 13.08.2024
Slide 16: Cash Flow
Cash Flow HIGH INVENTORIES IMPACT CASH FLOW Investments Inventory in million EUR in million EUR 181,2 179,0 25,3 158,6 147,9 * 5,9 134,8 137,0 18,8 17,1 FACC AG – Confidential and/or Proprietary * 4,7 * 3,2 11,5 * 1,5 19,4 6,2 14,2 13,9 3,6 10,0 * 3,1 * 1,3 2,3 3,1 31.03.2023 30.06.2023 30.09.2023 3
Slide 17: Balance sheet key figures
Balance sheet key figures DEVELOPMENT OF CAPITAL FIGURES Net Financial Debt Leverage Development in million EUR in million EUR 253,9 253,2 252,7 4,97 225,6 217,6 209,3 4,25 3,70 3,28 3,21 FACC AG – Confidential and/or Proprietary 2,42 N/A 31.03.2023 30.06.2023 30.09.2023 31.12.2023 31.03.2024 30.06.
Slide 18: 100 Days: CFO's perspective
100 Days: CFO´s perspective WAY FORWARD ▪ Focus on the growing Core-Business ▪ Working Capital Management ▪ Transformation program with new approaches ▪ Cashflow optimization FACC AG – Confidential and/or Proprietary ▪ Increase efficiency and reduce fixed costs to compensate for increased costs caus
Slide 19: Outlook
19 OUTLOOK FACC AG – Confidential and/or Proprietary
Slide 20: Market outlook
Market outlook ▪ FACC's revenue will increase by 10-15% (compared to FY 2023) in the financial year due to the balanced customer and product portfolio ▪ Management focus areas: o Profitable implementation of the industrial ramp-up o Increase in cashflow primarily through reduction of inventories o F
Slide 21: Appendix: Division Results
21 APPENDIX DIVISION RESULTS FACC AG – Confidential and/or Proprietary
Slide 22: Aerostructures
AerOSTructuRes AIRBUS A320 FAMILY CONTINUE TO BE THE MAIN PROJECT IN TERMS OF REVENUE Revenue development Reported EBIT development in million EUR in million EUR 93,8 83,7 8,0 8,1 77,6 6,7 73,7 5,6 62,4 FACC AG – Confidential and/or Proprietary 58,6 1,5 -2,2 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q
Slide 23: Engines & Nacelles
Engines & Nacelles SUSTAINABLE RATE INCREASE OF ALL PROGRAMS Revenue development Reported EBIT development in million EUR in million EUR 44,2 6,4 37,1 32,9 31,8 31,4 4,4 FACC AG – Confidential and/or Proprietary 27,9 3,8 3,3 3,0 0,8 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q1 2023 Q2 2023 Q3
Slide 24: Cabin interiors
cabin interiors STRONG GROWTH COMPARED TO THE SAME PERIOD LAST YEAR Revenue development Reported EBIT development in million EUR in million EUR 107,7 4,0 98,1 86,5 87,2 0,5 0,2 FACC AG – Confidential and/or Proprietary 71,1 68,8 -0,6 -4,8 -8,6 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q1 2023
Slide 25: Thank you!
25 THANK YOU! FACC AG – Confidential and/or Proprietary
Slide 26: Disclaimer
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 subje