Facc Ag · VIE:FACC
Facc — Q3 2023 Earnings Presentation
21 slides from Facc's earnings presentation, Nov 8, 2023
Slide 1: Q3 2023
November 8th, 2023 Q3 2023 FACC AG – Confidential and/or Proprietary
Slide 2: Q3 2023 Key Topics
2 Q3 2023 KEY TOPICS 08.11.2023 FACC AG – Confidential and/or Proprietary
Slide 3: Highlights Q3
HIGHLIGHTS Q3 ➢ 22.5 percent revenue growth compared to the previous year; operating performance impacted by seasonal effects but in line with expectations ➢ Rate increases confirmed across the industry, but in a difficult environment ➢ Challenging supply chain performance requires extra efforts to
Slide 4: Development of the Divisions
DEVELOPMENT OF THE DIVISIONS ALL BUSINESS SEGMENTS GROW IN LINE WITH THE MARKET [Q3 YTD] AEROSTRUCTURES ENGINES & NACELLES INTERIORS [Revenue in million EUR] [Revenue in million EUR] [Revenue in million EUR] 200 180 240 CAGR +27% 220 160 CAGR +18% 200 140 150 180 120 160 140 100 CAGR +10% 100 195 12
Slide 5: Demand for Aircraft
DEMAND FOR AIRCRAFT 40.850 DELIVERIES BY 2042 – CAGR 2022-2042: +5,02% 3.039 3.200 Deliveries 45.000 2.894 3.000 2.756 Cumulative 40.850 40.000 2.624 2.800 2.499 2.379 2.600 +5,0% 2.265 35.000 2.157 2.400 2.054 1.956 2.200 30.000 1.862 1.773 2.000 1.688 1.608 1.800 1.531 25.000 1.458 1.388 1.600 1.3
Slide 6: Market Outlook: Increase in Aircraft Construction Rates
MARKET OUTLOOK INCREASE IN AIRCRAFT CONSTRUCTION RATES B787 150 % increase in construction rates (from the present to the end of 2027) 100 % increase FACC AG – Confidential and/or Proprietary A350 60 % increase in construction rates (from the present to the end of 2027) A32F 35 % increase in constru
Slide 7: FACC Croatian Plant Extension
FACC CROATIAN PLANT EXTENSION 20 MILLION FACILITY EXTENSION LAUNCHED ➢ Plant for manufacturing high-tech components mainly for cabin interiors ➢ Site expansion by approx. 12,500 m2 ➢ A new PV system in pipeline covering an area of 2,000 FACC AG – Confidential and/or Proprietary m2 will provide aroun
Slide 8: Pratt & Whitney Canada Corp.
PRATT & WHITNEY CANADA CORP. MULTI YEAR MRO CONTACT FOR ENGINE DUCT OVERHAUL SIGNED ➢ FACC is the only company in Austria to be certified according to the world's highest quality standard for maintenance companies (EN9110) ➢ Important milestone: evolving into a full component FACC AG – Confidential
Slide 9: Financials
9 FINANCIALS 08.11.2023 FACC AG – Confidential and/or Proprietary
Slide 10: Revenues and EBIT
REVENUES AND EBIT Are in line with management expectations Revenues development Reported EBIT development in million EUR in million EUR 15,0 187,4 192,0 162,7 159,1 149,4 142,7 127,5 FACC AG – Confidential and/or Proprietary 3,0 3,1 1,3 0,0 -1,9 -10,0 Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023
Slide 11: Free Cash Flow
FREE CASH FLOW Investment increase due to plant expansion in Croatia Q3 2023 Q3 2022 in million EUR in million EUR FACC AG – Confidential and/or Proprietary 11 08.11.2023
Slide 12: Cash Flow
CASH FLOW Investments Net Working Capital in million EUR in million EUR 18,8 17,6 173,4 175,2 172,0 * 4,7 124,4 * 9,0 119,0 116,5 11,0 FACC AG – Confidential and/or Proprietary 8,3 * 5,5 6,2 14,2 4,3 * 4,2 3,6 * 3,1 8,6 * 2,5 5,5 * 1,3 4,0 3,1 1,8 2,3 31.03.2022 30.06.2022 30.09.2022 31.12.2022 31.0
Slide 13: Balance Sheet Key Figures
BALANCE SHEET KEY FIGURES Development of capital figures Net Debt Leverage Development in million EUR ratio 253,9 253,2 238,1 225,6 211,5 4,97 188,6 4,45* 4,25 FACC AG – Confidential and/or Proprietary 3,53 3,28 2,42 1,96 N/A 30.06.2022 30.09.2022 31.12.2022 31.03.2023 30.06.2023 30.09.2023 2016/17
Slide 14: Outlook
FACC AG – Confidential and/or Proprietary OUTLOOK STRENGTH THROUGH DIVERSITY 14 08.11.2023
Slide 15: Key Priorities 2023
KEY PRIORITIES 2023 Outlook ➢ Sales growth ca. 12-16 % through higher customer demand and ramp-up of new projects ➢ Focus on Industry Ramp up, stabilize supply chain and start benefiting from increasing learning curve from trained staff ➢ Increase Efficiency of new projects ➢ Focus on Cash Flow & Pr
Slide 16: Backup: Division Results
16 BACKUP DIVISION RESULTS 08.11.2023 FACC AG – Confidential and/or Proprietary
Slide 17: Aerostructures
AEROSTRUCTURES Airbus A320 family continue to be the main project in terms of revenue Revenues development Reported EBIT development in million EUR in million EUR 73,7 70,8 8,0 61,7 62,4 58,6 54,4 48,2 FACC AG – Confidential and/or Proprietary 2,6 1,6 1,7 1,5 -1,9 -2,2 Q1 2022 Q2 2022 Q3 2022 Q4 202
Slide 18: Engines & Nacelles
ENGINES & NACELLES Sustainable rate increase of all programs Revenues development Reported EBIT development in million EUR in million EUR 32,9 3,3 31,8 3,0 27,9 2,4 25,7 26,1 22,6 22,9 0,8 FACC AG – Confidential and/or Proprietary 0,6 0,0 -2,5 Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023
Slide 19: Cabin Interiors
CABIN INTERIORS Seasonally weak summer months resulted in a weak third quarter Revenues development Reported EBIT development in million EUR in million EUR 90,5 86,5 5,7 4,0 71,1 68,8 65,4 62,0 56,7 0,5 FACC AG – Confidential and/or Proprietary -1,0 -4,2 -4,8 -8,6 Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q1
Slide 20: Thank You!
20 THANK YOU! 08.11.2023 FACC AG – Confidential and/or Proprietary
Slide 21: 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