aviation: FACC is in the red in the third quarter despite an increase in sales

aviation FACC is in the red in the third quarter


The aviation supplier FACC slipped into the red operationally in the third quarter. Earnings before interest and taxes (EBIT) amounted to minus 1.9 million euros. In contrast, the turnover of the aircraft parts supplier rose by more than 26 percent compared to the previous year.

The decisive factor for the loss was the « Interiors » business area, in which the group spent around 4.2 million euros between July and September 2022. The bottom line is a quarterly loss of 9.6 million euros, i.e. the company in a broadcast.

In the “Interiors” business area, FACC equips aircraft cabins with overhead lockers, among other things. The board of directors indicated the problems in the quarterly report and speaks of a « ramp up of new projects in the interior area, in what is currently a complex environment ». The high number of new configurations have « adverse effects on learning curves » and the « delay in supplier switching affects costs ».

In terms of sales, the Interiors Division is the minor division of FACC. In the third quarter, it contributed sales of 62 million euros, while the other two business areas « Aerostructures » and « Engines & Nacelles » delivered 61.7 million. euros or 25.7 million euros. Total sales were EUR 149.5 million, an increase of 26.6 percent compared to the third quarter of 2021.

The FACC Management Board did not touch the outlook for the full year 2022. With a forecast sales growth of around 10 percent to 550 million euros and an EBIT, it remains “in the lowest double-digit constant million range”. After nine months, the group has an EBIT of 4.2 million euros.

The corona crisis and the effects on the aircraft manufacturers Boeing and Airbus also hit the Upper Austrian supplier hard. FACC continues to assume that pre-crisis sales will not be reached until 2024 or 2025. FACC is 55.5 percent owned by the Chinese state-owned armaments group AVIC, the remaining 44.5 percent of the shares are listed on the Vienna Stock Exchange.

The article FACC is in the red in the third quarter despite an increase in sales first appeared on Aviation.Direct.

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