Facc Ag · VIE:FACC
Facc — FY2022 Earnings Presentation
23 slides from Facc's earnings presentation, Mar 29, 2023
Slide 1: Financial Year 2022
FACC AG – Confidential and/or Proprietary Financial Year 2022 March 29th, 2023 1 3/28/2023
Slide 2: Market Overview
MARKET OVERVIEW FACC AG – Confidential and/or Proprietary Robert Machtlinger, CEO 2 3/28/2023
Slide 3: Air traffic rises strongly
AIR TRAFFIC RISES STRONGLY Markets recover in line with forecasts 118 % 111 % • Pre-crisis level will be reached again 103 % 101 % 93 % 92 % in 2024 - intercontinental flights 82 % recover more slowly 69 % 61 % • North- and Central-America region FACC AG – Confidential and/or Proprietary 27 % with t
Slide 4: Airbus & Boeing
AIRBUS & BOEING Increase in Deliveries & Net Orders Deliveries Net Orders + 190 AC or 20% FACC AG – Confidential and/or Proprietary 2021 2022 Airbus Boeing Airbus Boeing 2021 2022 Deliveries 2022: Net Orders 2022: > TOTAL: 1.141 AC or +190 AC (+20%) > TOTAL: 1.594 AC or + 608 or + 61,66% > AI: +50 A
Slide 5: Demand for aircrafts
DEMAND FOR AIRCRAFTS 39.490 Deliveries until 2041 46.930 • 22.880 Aircraft in-service beginning of 2020: Grow • 33% will stay in-service (including 15.440 New deliveries 2020 & 2021 deliveries) 39.490 • 67% will be replaced FACC AG – Confidential and/or Proprietary 24.050 Replace 22.880 • 39.490 new
Slide 6: Demand by regions 2022-2041
DEMAND BY REGIONS 2022-2041 80% Single Aisle I 20% Widebody 280 CIS 1580 1440 1270 EUROPA 1160 NORD & CIS 1330 AMERIKA 8140 6990 6560 CHINA 1470 8420 5720 NAHER OSTEN 7090 1530 3000 250 220 FACC AG – Confidential and/or Proprietary AFRIKA 1690 1230 Total LATEIN AMERIKA APAC 9160 39.490 2550 980 7470
Slide 7: Strong growth
STRONG GROWTH Expansion of the global footprint Market recovery continues – Aircraft production rates increase 20% increase in turnover in 2022 compared to the previous year EBIT at EUR 5.5 million – despite challenging environment FACC AG – Confidential and/or Proprietary Expansion of the productio
Slide 8: The FACC Business Year 2022 at a glance
THE FACC BUSINESS YEAR 2022 AT A GLANCE FACC AG – Confidential and/or Proprietary Robert Machtlinger, CEO 8 3/28/2023
Slide 9: Highlights in the 2022 business year
HIGHLIGHTS IN THE 2022 BUSINESS YEAR EUR 5,5 million Significant increase in operative EBIT customer demand & deliveries EUR 607 million Strong increase in group sales development services EUR 43,5 million Expansion of the market investment in R&T share in the AAM sector FACC AG – Confidential and/o
Slide 10: New site Croatia
NEW SITE CROATIA High-tech for Cabin Interior ▪ State-of-the-art and efficient production facility for manufacturing cabin components for business jets and passenger aircraft ▪ Expansion to FACC AG – Confidential and/or Proprietary 200 employees in 2022 ▪ Growth by a further 400 employees by 2025 10
Slide 11: Archer Midnight
ARCHER MIDNIGHT FACC supplies fuselage and wing components ▪ Silicon Valley Startup from Santa Clara, California ▪ Cooperation with United Airlines, the European automotive group Stellantis and FACC AG – Confidential and/or Proprietary FACC as technology partner ▪ First delivery of FACC components i
Slide 12: Financials
Aleš Stárek, CFO FINANCIALS 3/28/2023 12 FACC AG – Confidential and/or Proprietary
Slide 13: Revenue
REVENUE Impacted by one-time settlement of project-related development Revenue development Revenue distribution in million EUR in % Jan – Feb Σ 801,3 2019 148,2 Mar – Dec 2019 FACC AG – Confidential and/or Proprietary 747,6 781,6 705,6 653,1 607,0 526,9 497,6 2016/17 2017/18 2018/19 CY 2019 2020 202
Slide 14: EBIT
EBIT impacted by challenging environment EBIT development EBIT improvements in million EUR Impacted by • difficulties along the supply chain • rising material and energy costs Mar – Dec 60,1 Σ 15,1 2019 • the sharp rise in inflation 43,6 Jan – Feb 25,0 22,1 2019 5,5 - 7,0 Aerostructures result as pl
Slide 15: Revenue and EBIT
REVENUE AND EBIT Quarter by quarter Revenue development Reported EBIT development in million EUR in million EUR 187,4 3,0 3,1 2,5 1,3 0,4 0,1 149,4 139,3 142,7 -1,9 127,5 118,1 122,1 118,1 FACC AG – Confidential and/or Proprietary Dec 2019 -28,0 Q1 2021 Q2 2021 Q3 2021 Q4 2021 Q1 2022 Q2 2022 Q3 202
Slide 16: Division results
DIVISION RESULTS Revenue and EBIT in line with expectations Aerostructures Engines & Nacelles Cabin Interiors 274,6 235,1 FACC AG – Confidential and/or Proprietary 3,4 97,3 3,5 1,7 4,0 0,5 1,0 Revenues EBIT Investments 16 3/28/2023
Slide 17: Cashflow
CASHFLOW Higher inventories built up in 2022 Free cashflow – FY 2022 Free cashflow – FY 2021 in million EUR in million EUR FACC AG – Confidential and/or Proprietary 17 3/28/2023
Slide 18: Financial status
FINANCIAL STATUS In a nutshell – ensuring stable liquidity Covenant Senior Debt and Cash (Key Elements) in KEUR 31.12.2022 31.12.2021 ▪ Bank negotiations for prolongation of Syndicated Loan in progress Promissory Notes 70 000 70 000 ▪ Next testing (threshold of Net Debt/EBITDA): Cash 102 691 114 966
Slide 19: Financial status
FINANCIAL STATUS Reduced investments and lower leverage Investments development Leverage development in million EUR in million EUR 36,2 34,4 35,1 29,3 28,3 4,97 23,3 4,25 FACC AG – Confidential and/or Proprietary 17,6 3,53 3,28 2,42 1,96 N/A 2016/17 2017/18 2018/19 SFY 2019 2020 2021 2022 2016/17 20
Slide 20: Outlook
OUTLOOK Strength through Diversity 3/28/2023 20 FACC AG – Confidential and/or Proprietary
Slide 21: Outlook 2023
OUTLOOK 2023 Positive market development ...in a challenging environment Measures to secure the future • Further recovery of air traffic • Securing the rate ramp-up through • Ensuring rate ramp-up to meet customer → stable new orders and rate ramp- supply chain management requirements ups • Tense si
Slide 22: Thank you!
THANK YOU! 3/28/2023 23 FACC AG – Confidential and/or Proprietary
Slide 23: 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