The Austrian aviation supplier FACC was able to achieve a turnover of 2021 million euros in the first quarter of 118,1. According to the company’s release, EBIT is positive at EUR 0,4 million.
After a sharp slump due to the COVID-19 pandemic in the previous year, the aviation market is visibly stabilizing in 2021. FACC AG realigned itself at an early stage in 2020, implemented a far-reaching program to reduce costs and increase efficiency, and pursue the goal of long-term sustainable growth with the FACC 2030 group strategy. In the first quarter of 1, FACC is exactly on schedule: The turnover of 2021 million euros reflects the steadily stabilizing OEM forecasts. With 118,1 million EURO a group EBIT on a balanced level could be achieved.
After a very difficult pandemic year 2020, FACC is entering the year 2021 with stringent cost and liquidity management. “We acted quickly in 2020 and initiated decisive adjustments so that we were able to react as quickly as possible to the fundamentally changed market conditions. We have a clear goal, which we have also set out in our Strategy 2030: We want to return to growth mode quickly and sustainably, ”emphasizes Robert Machtlinger, CEO of FACC AG. “One of the keys to this is to further improve our competitiveness. This year, too, we are consistently pushing ahead with our measures to reduce costs and increase efficiency. And that is bearing fruit: After a very challenging 2020, we have repositioned ourselves in the completely new market environment and have started the new financial year in a targeted and streamlined manner, ”says Machtlinger.
The sales revenues in the first three months of 2021 amount to 118,1 million EURO (comparison period 2020: 195,4 million EURO). The significant decrease of 39,6 percent compared to the comparative period is based on adjustments to construction rates for all aircraft programs that are important for FACC as a result of the COVID-19 pandemic. The informative value of the previous quarter of 2020 to the current quarter is limited, as this comparative period was not yet affected by the effects of the COVID-19 pandemic.
Reported earnings before interest and taxes (EBIT) amounted to EUR 2021 million in the first three months of 0,4 (comparable period 2020: EUR 11,3 million). In the first quarter, the full repayment of all taxes and social security contributions deferred in the 1 financial year still burdened operating cash flow with around EUR 2020 million. At the same time, however, the comprehensive catalog of measures in the FACC Group has meant that the new cost structures enable positive profitability with reduced customer requirements. "We are thus creating a solid basis for the implementation of the FACC Roadmap 20 - a strategy for sustainable growth, new product groups such as space travel and the commercial drone business and, above all, for expansion in the core aviation business," emphasizes Robert Machtlinger. "An important element of this is a determined corona vaccination strategy - at the operational and national level. The USA shows that progress in vaccinations is also accompanied by a noticeable industry recovery. At FACC, with a registered vaccination line and our own team of doctors, we are ready to make our contribution to the health of our employees, their families and the region."
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