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FACC records significant growth in Q1 2022

Download: Printable PDF Date: 04 May 2022 07:58 (UTC) categories:
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FACC records significant growth in Q1 2022 - Finance publisher
Dana Ermolenko
Aircraft: Airplanes

FACC AG closed the first quarter of 2022 as planned with a 7.9% increase in sales compared to the previous year. The reason for this positive development is the favorable order situation for short- and medium-haul aircraft as well as orders in the business jet segment. EBIT is positive at + 3 million EUR, which is also due to the measures to reduce costs and increase efficiency that have already taken effect.

Further recovery of the aviation industry

The aviation industry's post-pandemic recovery continued in Q1 2022. Continental air traffic in particular is exhibiting very positive signs of development, especially in the USA and the Middle East. This is accompanied by an increase in demand for short- and medium-haul aircraft - a market segment that particularly benefits FACC. The development in the business jet segment is also encouraging. This market fully recovered in Q4/2021, with approx. 17% of FACC's consolidated sales originating from this segment.

New orders

New orders for the Bombardier Challenger 3500 and the Falcon 10X confirm this trend in the growing business jet market. "As things stand today, we continue to expect an increase in sales of around 10% for 2022 as a whole," emphasizes CEO Robert Machtlinger. Solutions for cabin interiors are also in high demand on the market right now. With the newly constructed plant in Croatia, for which the next expansion stage is already being planned, the company is also well equipped for further growth in this area.

The war in Ukraine, which flared up in mid-February, and the resulting repercussions have had little impact on FACC, there being no FACC supply chains in either Ukraine or Russia. The volume of FACC aircraft components supplied annually for Russian civil applications amounts to approx. 1 million EUR per business year.

Outlook

Following the successful operational turnaround in 2021, FACC will again focus on growth in 2022. A growth in sales of approx. 10% is expected for the 2022 financial year, while the planned EBIT is projected to more than triple compared to the operating results in 2021 (excluding one-off effects).





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