Analyst Presentation H1 2018/19 October 15, 2018
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Analyst Presentation – H1 2018/19 October 15, 2018
Transcript of Analyst Presentation H1 2018/19 October 15, 2018
Analyst Presentation – H1 2018/19
October 15, 2018
…. THE NEXT MILESTONE IN MOBILITYFACC congratulates Bombardier to the certification of the „Global 7.500“
> Largest business jet with maximum range
> Certification received as of Sept. 29, 2018
> Start of serial production with a rate ofapprox. 60 aircrafts per year
> FACC contributes with all three businesssegments
HIGHLIGHTSH1 2018/19
HIGHLIGHTS H1 2018/19
> Growth course: +4% to EUR 373 mill.
> EBIT EUR 25.1 mill. - implementation of newprogramms cause one off effects
> FACC signed new syndicate loan with total volume ofEUR 225 mill.
> New order with an contracted volume of EUR 230 mill. recived from Airbus for new entrance area
> Investment programm under exectution - FACC invests about EUR 45 mill. in capacity and technology
> Outlook for the business year 2018/19 confirmed andspecified
REVENUESEUR 373 mill.
EBITEUR 25,1 mill.
Order BacklogUSD 6,5 bn
FACC remains on course for growth
AEROSPACE MARKET SUMMARYPositive outlook for the civil aerospace market confirmed
> Outlook from OEM´s sustainable positive until 2037:
– 5 % annual growth in air traffic
– 37,390 new aircrafts required
> APAC region as the growth market
> FACC well positioned to serve demand with itsglobal footprint
PROJECTED AIRCRAFT DEMAND2018 – 2037 // Number of aircrafts above 100 seats
21 450
10 600
10 850
37 390
26 540
-
10 000
20 000
30 000
40 000
50 000
Beginning 2018 2037 New Deliveries
Source: Airbus GMF 2018-2037
Growth
Stay
Replacement
20-year newdeliveries
47 990
NEW AIRBUS CONTRACTInnovation drive through use of automated technologies andmaterials
EUR 230 mill. contract volume
Entrance Area according newAirspace Design
Scope - A320 Family aircraftsA318/319/320/321
> Efficient Pearl 15 engines for latestULR (ultra long range) jets fromBombardier
> Light weight and noise absorbigncoating from FACC result in improved efficieny and reducednoise
HIGHTECH FOR ROLLS-ROYCE New generation of engines with composite parts from FACC
Phase One – In operation since 2018:
FACC - SUSTAINABLE GROWTHMulti year investment programm
EUR 35 mill. Total volume
6.400 squaremeter
> Capacity extensions at Plant 1 (Aerostructures) and Plant 4 (Engine & Nacelles)
> Doubling the floor space in Wichita (USA) foraftermarket services
> Investments into new programms fo furhtergrowth
> Extension of plant 3 (Aerostructures), building andequipment
> Further automation and I4.0-Initatives
> Investments into new programms
EUR 45 millTotal volume
Phase two in exectution
2019Completion
FACC - SUSTAINABLE GROWTH
FINANCIALSH1 - 2018/19
> Syndicated Loan :
– Long term financing agreement signed
– Volume in the amount of EUR 225 mill.
> Dividend payment of EUR 0,11 per share
> Net financial debt almost unchanged despite growth in revenues
> Global positioning of the FACC share as growth stock
HIGHLIGHTS H1 2018/19
REVENUES H1 2018/19
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
25,1
3,4
29,7
-6,0
-2,0
H1 2017/18 Aerostructures Engines &Nacelles
Cabin Interiors H1 2018/19
EBIT H1 2018/19
in Mio. EUR
GROUP EBIT
in Mio. EUR
EBIT BY BUSINESS SEGMENT
19,3
8,2
2,2
22,7
2,20,2
AEROSTRUCTURES ENGINES & NACELLES CABIN INTERIORS
H1 2017/18 H1 2018/19
EBITDA H1 2018/19 inkl. IFRS 15
IFRS 15 - RECONCILIATION
in Mio. EUR
35,0
25,1
0,47,2
2,3
EBIT D/A IntangibleAssets
D/A TangibleAssets
D/A ContractCosts
EBITDA
in Mio. EUR
EBITDA H1 2018/19 excl. IFRS 15 (not reported)
40,3
22,1
7,0
11,2
EBIT Afa IAV Afa SAV EBITDA
> EBITDA (and EBIT) include a positive currency (USD/EUR) translation effect in H1 2018/19 of EUR 4.3 mill.
> IFRS 15 also results in a sales reduction with an EBIT impact of minus EUR 1.3 mill.
in Mio. EUR
18.29.4
CASH FLOW AND INVESTMENTS
in Mio. EUR
CASH FLOW INVESTMENTS
in Mio. EUR
77,6
-16,6 -0,2
63,5
30,40,4
Cash and cashequivalents atthe beginningof the period
CF fromoperatingactivities
CF frominvestingactivities
CF fromfinancingactivities
FX Cash and cashequivalents atthe end of the
period
15,6
12,6
16,6
H1 2016/17 H1 2017/18 H1 2018/19
269,7 306,7 282,6
39% 44% 39%
H1 2016/17 H1 2017/18 H1 2018/19
BALANCE SHEET RATIOS
EQUITY AND EQUITY RATIO NET FINANCIAL DEBT
in Mio. EUR
218,8182,0 177,8
H1 2016/17 H1 2017/18 H1 2018/19
SHARE PERFORMANCE AND OWNERSHIP
80
90
100
110
120
130
140
150
FACC
ATX
55,5% AVIC Cabin Systems Co., Ltd
40,3% Free Float
4,2% JP Morgan
OUTLOOK
OUTLOOK FOR THE BUSINESS YEAR 2018/19Continous growth and new programms
> Execution of phase two of the investment programm
– Implementation of required capacity in production
– Automation and I4.0 initiatives
– Investments into new programms
> Financial Outllok
– Revenue target FY 2018/19: EUR 760 - 770 mill
– EBIT target FY 2018/19: EUR 52 - 55 mill.
> Gaining new market shares in all business segments
> R&T Focus – New materials and production technologies
INNOVATION IS OUR DESTINATION
