FACC AG Group Announces Earnings Results for the Fiscal Year 2016; Provides Earnings Guidance for the Fiscal Year 2017
June 06, 2016 at 08:43 pm EDT
Share
FACC AG Group announced earnings results for the fiscal year 2016. For the year, the company's sales revenue increased by 11.1% from EUR 528.9 million to EUR 587.5 million. This growth is attributable to continuing dynamic growth in the civil aviation industry. In addition to generally good progress with delivery rates in FACC's key programs, the production rate increase for the Airbus A350 XWB made the contribution to this positive development. The group's results for the 2015/16 financial year are marked by two major events. On the one hand, operating profit improved by around EUR 23 million after a loss of EUR 4.5 million last year. Operating profit before adjustment for onetime effects amounted to EUR 18.6 million. The earnings from operational activities before interest and taxes and before fairvalue valuation of financial instruments (EBIT) amounted to EUR 23.4 million against loss of EUR 4.5 million a year ago, after taking account of the onetime charge.
For the financial year 2016-2017, the company expects that sales growth will be in the double digit percentage range.
FACC AG is an Austria-based company engaged in the aerospace and defense industry. The Company specializes in the manufacture of aircraft parts and components. It divides its business into three divisions: Aerostructures, Engines & Nacelles, and Interior. The Aerostructures division covers control surfaces, fairings and wing components. The Engines & Nacelles division provides engine and nacelles components. The Interior division offers interior design services for commercial aircraft, business jets/private jets, freighters and helicopters. The Companyâs services range from on-site support with field engineering, spares service, and repairs to assembly training of customer staff for components and systems delivered by the Company. The Companyâs products are manufactured at four production sites in Austria.