He had already noted in February, the confirmation came: The intention to produce 2020, Airbus A3, the world's largest passenger aircraft, is leaving deep cuts in the FACC registered supplier's balance sheet.
The operating outcome (EBIT) fell by 27.3 per cent to 43.6 million euros in the last financial year. Earnings after tax fell by 18 per cent to 30.3 million euros. The equity ratio fell from 46 to 41 per cent. Amongst the shareholders, these numbers were not very successful: meanwhile the stock has lost nearly six per cent of value and closed at 12.76 euros and minus 5.2 per cent.
Nevertheless, IACC CEO Robert Machtlinger was optimistic in presenting the balance sheet in Vienna: "The end of the A380 is economically viable for us, because that was just 1.4 per cent of sales." The Management Board has decided to abolish the unamortised development work for the A380, a total of 11.4 million euros in one phase. "We will be excluded from this in 2020 and 2021," said Machtlinger.
FACC sales increased. The plus of 4.6 per cent to around 782 million led by Machtlinger and CFO Ales Starek is back on an increase in manufacturing for the two main Airbus and Boeing aircraft manufacturers. FACC produces landing flaps, bag racks and thrust reversing pumps.
The group has full order books for the next five to seven years, Machtlinger stressed. The upholstery is equivalent to 6.5 billion US dollars. In addition to the proven products FACC also starts with the Chinese EHang company with 300 airline taxis production.
Invest 30 million euros
To increase its growth, the supplier extends its troops to new countries. In Croatia, a factory with 600 jobs is under construction. "We want to expand our global network and also expand the catchment for skilled workers," Machtlinger said. This year's construction work is in October. The cost of about 30 million euros would be spent in addition to the current investment program in the amount of 100 million euros, says the Chief Executive.
In the previous year, FACC invested 35.1 million euros. This year it should be 35.7 million. Most of this is going to expand 3 Children in Innkreis and Ort im to automate.
The number of employees increased from 3,402 to 3,465 in 2018. This year the IACC expects sales to show “moderate growth” and “small change” for earnings. The Executive Board continues to meet the medium term target of a billion turnover. However, this amount should not be reached until 2022 – a year later than the original intention.
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