Facc Ag · VIE:FACC
Facc — H1 2019 Earnings Presentation
20 slides from Facc's earnings presentation, Oct 15, 2019
Slide 1: Analyst Presentation H1 2019
ANALYST PRESENTATION H1 2019 October 15, 2019 14.10.2019
Slide 2: H1 2019 – Business Snapshot
H1 2019 – BUSINESS SNAPSHOT > Revenues: EUR 373.4 mill. > EBIT: EUR 16.0 mill. > Free Cash-Flow: EUR 12.2 mill. > New Orders: > USD 800 mill. > Passenger traffic growth in H1 2019 > FACC Croatia progressing as planned > Short Fiscal Year ends in December > Market environment under review
Slide 3: WTO Justifies Tariffs Against Airbus
WTO JUSTIFIES TARIFFS AGAINST AIRBUS …. but FACC products not affected WTO acknowledged EUR subsidies to be not legal As a result Airbus aircraft above 30,000kg delivered into US will be taxed with 10% tariffs However only aircrafts are taxed, not aircraft components 13% of Airbus backlog ar
Slide 4: Collins Aerospace Partnership Continues
COLLINS AEROSPACE PARTNERSHIP CONTINUES New contract terms for Boeing 787 translating sleeve agreed CONTRACT PROLONGATION Current contract terms ending by the end of 2021 New contract terms starting with 2022 onwards No set-up costs, production fully established at leaned out cost High tripl
Slide 5: New Contract for A320neo Nacelle
NEW CONTRACT FOR A320NEO NACELLE FACC Translating Sleeves for best selling Airplane NEW CONTRACT Increased market share on the most important aerospace program of the industry (A32F) First delivery in Q4/2020 Ramp up to full rate in 2021 FACC innovation for one of two offered new engine opti
Slide 6: New Product Family with Radoms
NEW PRODUCT FAMILY WITH RADOMS Front End “Technology” for Bombardier BJ and A220 Airbus A220 NEW CONTRACT Radom’s for all Airbus A220 (Bombardier C-Series) Bombardier Global Bombardier Global- and Challenger Business Jets Life Time Contract for both program Bombardier Challenger Extension of
Slide 7: MRO Business on Track
MRO BUSINESS ON TRACK Extended Partner Network and Increasing MRO business Business Growth as Planned 1.000th Winglet retrofit finished and delivered to customers Contract with Boeing Global Services signed for Boeing 737 Winglet (NG & MAX Version) spares and repairs Business Jet Cabin Retrofi
Slide 8: Financials H1 2019
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Slide 9: FACC Group
FACC GROUP Solid growth in the Engines & Nacelles and Cabin Interiors segments Revenues Earnings before Interest and Taxes in EUR mill. in EUR mill. -8,6 8,8 373,4 367,4 5,7 -5,3 28,5 0,1 -7,3 16,0 Revenues H1 Aerostructures Engines & Cabin Interiors Revenues H1 EBIT H1 2018/19 Aerostructures Engine
Slide 10: Aerostructures
AEROSTRUCTURES Results impacted by phase out of Boeing 737NG winglet program Revenue EBIT and EBIT-Margin in EUR mill. in EUR mill. - 8,1% 16,0 14,6 14,4 30,0% 102,7 14,0 13,1 25,0% 87,8 12,0 81,6 78,3 82,3 10,3 72,4 74,5 9,3 20,0% 66,5 10,0 18,6% 8,0 17,6% 15,0% 6,3 14,0% 5,7 6,0 12,8% 10,0% 11,7%
Slide 11: Engines & Nacelles
ENGINES & NACELLES Revenue and EBIT remains on constant levels Revenue EBIT and EBIT-Margin in EUR mill. in EUR mill. +5,3% 14,0 35,0% 12,2 12,0 30,0% 44,1 46,5 10,0 28,2% 25,0% 43,2 43,8 41,1 43,4 39,7 39,5 8,0 20,0% 6,0 15,0% 4,0 4,0 2,9 2,6 10,0% 1,8 2,0 9,1% 1,2 5,0% 6,6% 0,0 6,6% 4,1% 0,0 2,6%
Slide 12: Cabin Interiors
CABIN INTERIORS Revenue slightly increasing while margin still under pressure Revenue EBIT and EBIT-Margin in EUR mill. in EUR mill. +5,4% 74,3 73,9 72,2 67,5 67,2 68,8 70,2 62,3 12,0 15,0% 9,5 10,0 10,0% 8,0 12,8% 6,0 5,0% 4,0 1,8 2,0 1,1 0,0% 2,7% 0,1 1,6% 0,1% 0,0 -0,9% Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3
Slide 13: Free Cashflow
FREE CASHFLOW Reduced investment demand and concentrated cash management in focus Free cashflow – H1 2018/19 Free cashflow – H1 2019 in EUR mill. in EUR mill. 2,7 -6,0 9,9 38,4 -17,0 13,9 29,9 -14,4 28,5 -16,5 16,0 10,3 15,2 12,2 EBIT H1 Depreciation EBITDA H1 Changes in Investments Others FCF H1 EB
Slide 14: Balance Sheet Indicators
BALANCE SHEET INDICATORS Stable equity ratio and net debt impacted by IFRS16 reclassification Equity Net debt and net debt / EBITDA ratio in EUR mill. in EUR mill. 45,9 % 240,0 4,00 39,5 % 39,1 % 3,48 220,0 3,50 3,00 306,7 300,6 200,0 216,9 286,5 2,42 1,96 2,50 180,0 2,00 177,8 160,0 182,8 1,50 140,
Slide 15: Cashflow Drivers
CASHFLOW DRIVERS Low investments and stable working capital due to constant production rates Investments Working capital in EUR mill. 180 in EUR mill. 60,0% 175 173,6 55,0% 16,5 170 50,0% 165 162,5 163,4 12,6 48,4% 160 45,0% 155 44,2% 43,8% 40,0% 6,0 150 35,0% 145 140 30,0% H1 2017/18 H1 2018/19 H1
Slide 16: Outlook
OUTLOOK Sustainable performance
Slide 17: Financial Key Performance Indicators (2020-2024)
FINANCIAL KEY PERFORMANCE INDICATORS… (2020-2024) Demand driven by constant annual market growth (RPK) of 4.5 % ... BASED ON OEM forecasts demand for up to 40,000 new aircraft until 2037 Gaining market share on existing platforms and entering new markets Stable economic and political environ
Slide 18: Outlook 2019
OUTLOOK 2019 In the context of the 5th Annual General Meeting on July 9, 2019, it was decided among other things to change the fiscal year to the calendar year. Thus, the year 2019 is a shortened fiscal year which ends on December 31, 2019 (March 1, 2019 - December 31, 2019). For the current fis
Slide 19: Beyond Horizons
BEYOND HORIZONS \
Slide 20: 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 subj