Facc Ag · VIE:FACC
Facc — Q1 2019 Earnings Presentation
16 slides from Facc's earnings presentation, Jul 11, 2019
Slide 1: Analyst Presentation Q1 2019
ANALYST PRESENTATION Q1 2019 July 11, 2019 11.07.2019
Slide 2: Q1 2019 – Business Highlights
Q1 2019 – BUSINESS HIGHLIGHTS > Revenues: EUR 193.7 mill. > EBIT: EUR 7.4 mill. > Free Cashflow: EUR 3.1 mill. > Dividend: 0.15 EUR/Share > Order Backlog: USD 6.5 bn
Slide 3: Order Development
ORDER DEVELOPMENT USD 6,5 bn order backlog as basis for continuous development Others 9% B787 7% > Continuous high demand for efficient A32F aircraft 27% C919 Boeing 5% 14.000 aircraft ordered ARJ 21 COMAC Order Backlog > New orders increase the market 8% USD 6,5 bn Airbus share of FACC BJ > New p
Slide 4: Business Milestones
BUSINESS MILESTONES Company development progressing as planned > Order book development as forecasted with growth rates as planned. > Return of EUR 10.8 mill. of frozen accounts to FACC expected within weeks > Revenues from new programs are compensating slow down of A380 and stop of B737NG productio
Slide 5: FACC Croatia – A Best in Class Facility
FACC CROATIA – A BEST IN CLASS FACILITY A Leading Edge Aerospace Technology Facility Set up High Tech Composite Manufacturing facility as a 100% subsidiary of FACC Operations GmbH > Investment of EUR 33 mill. > 128.000 m² plot size > 10.000 m² facility size with potential to extend > 600 employees M
Slide 6: Global Aerospace Market
GLOBAL AEROSPACE MARKET
Slide 7: Global Market Forecast
GLOBAL MARKET FORECAST Demand for new aircraft increased from 34,900 to 37,400
Slide 8: OEM Outlook
OEM OUTLOOK Long term outlook confirmed, stable rates at present ˃ Stable production rates expected on major platforms in the next 12 months ˃ Production ramp down on A380 progressing (FACC to finish production of last pars in Q4/2019) ˃ OEM Oder Intake in Q1/Q2 2019 below 2018 orders Grounding of
Slide 9: Financials Q1 2019
FINANCIALS Q1 2019
Slide 10: Revenues
REVENUES Solid growth in the Engines & Nacelles and Cabin Interiors segments in EUR mill. -4.8 % +6.3 % +7.6% The phase-out of the B737NG- 5,2 193,7 Winglet and the A380 reduce the revenues in the Aerostructures 189,5 -3,8 segment. 2,7 The continuous ramp-up in all relevant E&N programs results
Slide 11: Earnings Before Interest & Taxes
EARNINGS BEFORE INTEREST & TAXES in EUR mill. Phase-out of mature programs 19,3 -1,5 (A380, B787NG) result in a -1,7 slight decrease in earnings. -8,7 Start-up costs for recently launched projects result in lower earnings. 7,4 EBIT Q1 2018/19 Aerostructures Engines & Nacelles Cabin Interiors EBI
Slide 12: Balance Sheet Ratios
BALANCE SHEET RATIOS Impact of first time application of IFRS 16 in Q1 2019 EQUITY NET DEBT in EUR mill. in EUR mill. 40,0 % 40,3 % 39,7 % 216,9 285,4 286,5 304,2 192,7 178,1 Q1 2017/18 Q1 2018/19 Q1 2019 Q1 2017/18 Q1 2018/19 Q1 2019 INVESTMENTS NET DEBT / EBITDA in EUR mill. 9,7 3,37 2,42 5,7 5,6
Slide 13: IFRS 16 Effect
IRFS 16 EFFECT Impact of Off-balance leasing and rental contracts IMPACT ON KPIs Balance Sheet P&L Operating income Before After Before After Finance costs Opex Balance sheet financial debt Assets Variable lease Rights of use expense + rental Net cash from operating activities charges (capit
Slide 14: Funding Strategy
FUNDING STRATEGY FACC will issue a new promissory note loan in July 2019 with a volume of more than EUR 50 mill. Optimization of maturity profile Current maturity profile in EUR mill. Incorporation of USD components to minimize 104,5 exchange rate risks Reduce the number of financing instrumen
Slide 15: Beyond Horizons
BEYOND HORIZONS \
Slide 16: 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