INVESTOR PRESENTATION 11-2018//FACC GROUP 1 FACC AT A GLANCE // - - PowerPoint PPT Presentation
INVESTOR PRESENTATION 11-2018//FACC GROUP 1 FACC AT A GLANCE // SPOT LIGHT A partner of the global aerospace industry 100% Global 2 5 Aerospace composite Engineering centers Plants Network of engineering- & lightweight Production
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Largest aerospace company in Austria
Employees worldwide
Aerospace composite lightweight
Engineering centers in Austria
Partner for all aerospace OEMs
Network of engineering- & Production locations in 13 countries
Export
YoY average growth EUR 750,7 Mio. Sales in 2017/18
Represented of every modern aircraft
Plants
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ENGINES & NACELLES CABIN INTERIORS AEROSTRUCTURES
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705,7 750,5
16/17 17/18
26,9 63,8
16/17 17/18
5,2 5,9
16/17 17/18
in EUR mill.
REVENUES
in EUR mill.
EARNINGS
in USD bn
ORDER BACKLOG
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FACC Montreal (Canada) Mubadala (Abu Dhabi) FACC Wichita (US) TAML (India) ACM (Malaysia)
Engineering International supply chain partners Manufacturing/Engineering
FACC Slovakia (Slovakia) Fesher (China) BTC (China) FACC Germany (Germany) FACC India (India) FACC AG (Austria)
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to increase the company size to EUR 1 billion by the 2020/21 fiscal year
with continuously increasing efficiency
industry by investing in technology, innovation and production expertise and the highest quality standards
network
platform strategy
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FACC benefits from an increasing demand for more efficient aircraft.
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Since January 2017 FACC Group increased its order backlog from new customer contracts by more than EUR 1bn.
> Rolls-Royce extends the partnership with FACC to a new engine platform. The contract underlines the strong long lasting partnership between both companies. > Contract volume – EUR 35 mill. > FACC is the single source partner for the new Airbus A320 „Airspace – Cabine“ and Entrance Area > Contract volume – EUR 700 - 750 mill. > FACC is a strategic partner of Bombardier and is the single source supplier
lightweight components produced by FACC > Contract volume – EUR 100 mill.
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weight of modern aircraft
easier to service
3% 3% 15% 16% 22% 50% 52%
1967 1981 1987 1992 2007 2011 2015
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increase until 2020 (mostly driven by several ramp ups) and a more moderate growth afterwards.
Overall growth driven from
growing GDP particularly in emerging markets.
increasing GDP until 2020 with stable rates afterwards.
time.
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passenger kilometer (RPK) at 5%
aircraft (new and replacements)
System”
remain top line requirements
market rates and market value
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> China requires 20% of all new
Europe 20%
North America 17 %
Asia, Middle East 47 %
China 20%
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ARJ21 – Passenger cabin C919 – Passenger cabin, Winglet & Spoiler C929 - Passenger cabin, Wing components
> ARJ 21Program ramp up with 100% rate increases > C919
> C929
> China production: Successful work transfer to China
> Revenue Potential: Current China program rate
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Increasing demand for composite repairs and replacement
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Airlines as new customers for FACC
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Network and footprint extended to service customers
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Austrian and Lufthansa as first customers announced
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Significant mid-term growth expectations
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> Investments in automation, capacity
and logistics
> I4.0 and automated processses as key
elements of FACC´s investment plan
> Customers demand for higher
automation and rate increases
> Investment led to significant increase in
capacity at the Engines/Nacelles and Cabin Interior segment
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OEM´s improving their profits through a modern fleet structrures, increased efficiency & low fuel cost
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A320, A350, B787 rate increases confirmed by customers
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High market potential for MRO business
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New developments to come – eg. Comac C929
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FACC participates in global market growth − Established Tier 1 partner of the industry − Long-term contracts for new aircraft & engines − Existing presence in Europe / Austria, North
America, China, India and UAE
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Fiscal Year 2017/18
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Revenues grew 6.4% year-on-year with Nacelles and Interiors being the biggest drivers
705,7 750,5 6,1 18,7 20,0
FY 16/17 Aerostructures Engines & Nacelles Interiors FY 17/18
26,9 63,8 18,6 26,9 48,6
FY 15/16 FY 16/17 FY 17/18 EBIT EBIT normalized
in EUR mill.
REVENUES OPERATING RESULT (EBIT)
in EUR mill.
EBIT doubled with cross functional profit improvement measures contributing
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330,4 142,0 232,8 334,0 162,0 254,3 Aerostructures Engine & Nacelles Interiors 51,1
38,2 17,0 8,8 Aerostructures Engine & Nacelles Interiors
in EUR mill.
REVENUES FY 2017/18 REPORTED EBIT FY 2017/18
in EUR mill.
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55,8
EBITDA FY 16/17 Changes in working capital Investments Free Cash Flow 96,7 28,0 33,6 35,1 EBITDA FY 17/18 Changes in working capital Investments Free Cash Flow
in EUR mill.
FY 16/17
in EUR mill.
FY 17/18 EUR + 44.4 mill.
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63,5 35,1 13
48,3 63,1 0,2
Cash and Cash Equivalents at 1st of March 2017 CF from Operating Activities CF from Investing Activities CF From Financing Activities FX Cash and Cash Equivalents at 28th of February 2018
50,9 34,4 35,1 FY 15/16 FY 16/17 FY 17/18
in EUR mill.
CASH FLOW CAPITAL EXPENDITURES
in EUR mill.
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38 % 39 % 46 %
171,9 197,0 181,9 FY 2015/16 FY 2016/17 FY 2017/18
in EUR mill.
EQUITY RATIO NET FINANCIAL DEBT
in EUR mill.
254,2 269,7 323,1 FY 2015/16 FY 2016/17 FY 2017/18
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22.11.2018
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REVENUES BY BUSINESS SEGMENT
in Mio. EUR
GROUP REVENUES
in Mio. EUR
163,5 78,5 116,8 151,8 85,5 135,7
AEROSTRUCTURES ENGINES & NACELLES CABIN INTERIORS H1 2017/18 H1 2018/19
372,9 11,7 358,7 7,0 18,9
H1 2017/18 Aerostructures Engines & Nacelles Cabin Interiors H1 2018/19
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EBITDA H1 2018/19 inkl. IFRS 15
in Mio. EUR
35,0 25,1 0,4 7,2 2,3 EBIT D/A Intangible Assets D/A Tangible Assets D/A Contract Costs EBITDA
in Mio. EUR
EBITDA H1 2018/19 excl. IFRS 15 (not reported)
22,1 29,1 40,3 22,1 7,0 11,2 EBIT D/A Intangible Assets D/A Tangible Assets EBITDA
2018/19 of EUR 4.3 mill.
in Mio. EUR
18.2 9.4
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in Mio. EUR
CASH FLOW INVESTMENTS
in Mio. EUR
77,6 16,6 0,2 63,5 30,4 0,4
Cash and cash equivalents at the beginning
CF from
activities CF from investing activities CF from financing activities FX Cash and cash equivalents at the end of the period
15,6 12,6 16,6
H1 2016/17 H1 2017/18 H1 2018/19
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269,7 306,7 282,6 39% 44% 39%
H1 2016/17 H1 2017/18 H1 2018/19
EQUITY AND EQUITY RATIO NET FINANCIAL DEBT
in Mio. EUR
218,8 182,0 177,8
H1 2016/17 H1 2017/18 H1 2018/19
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− The growth trend in the civil aviation industry is expected to remain strong in the
future.
− Current market forecasts of OEMs confirm the constant annual increase in
passenger volumes of around 4.5 %.
− Over the next two decades, the global aircraft fleet, which currently amounts to
21,000 large commercial aircraft will more than double to roughly 42,500 aircraft by 2036.
− However, a significant shift towards the new growth markets China and India is
also expected to occur.
− Traffic volumes (flights per year and per capita) are expected to quadruple in these
markets by 2036. In the US and Europe, where air travel is already widespread, the number of flights per capita is expected to increase by an additional 40%.
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In the coming years, the company expects to gradually increase the production rates of its most important programs.
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Vision 2020 growth plan on track based on program ramp ups and new business contracts
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FACC is particularly focused on processing the new orders signed last year. It is expected that the first revenues from these new orders will generated in 2019/20 financial year.
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Based on current market assessments and the Group's existing product mix, FACC expects revenue growth in the single-digit percentage range in the 2018/19 financial year.
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Initiatives to reduce cost will continue with highest priority. This will include low cost production but also insourcing activities leading to a substantial improvement in earnings.
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Strong market focus to increase FACC’s market-share in all segments will continue in 2018.
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Share Information Share Information
IR Contact Manuel Taverne Director Investor Relations Phone: +43/59/616-2819 Mobile: +43/664/80119 2819 e-mail: m.taverne@facc.com
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CIVIL AEROSPACE
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BUSINESS JETS & HELICOPTER
Challenger 350 Learjet 40/45 Global 5000 Global 7000/8000 Legacy 450/500 Lineage 1000E Phenom 100/300 Gulfstream G350/ 450/550/650 Cessna Citation Cessna Mustang Falcon 900 Falcon 2000 Falcon 7X Hawker 800 EC135/EC145