Interiors maker FACC said it was able to achieve an increase in sales of +23.6 % to EUR 438.3 million in the first half of 2024. The company said it is benefiting disproportionately from the stable growth of the international aviation industry. This is also reflected in an improved result: FACC’s EBIT grew by +51.2% to EUR 22.5 million.
“Due to our diversified customer and product portfolio with all major aircraft and engine manufacturers worldwide, we are benefiting sustainably from the rate ramp-up currently taking place for all major aircraft models. The demand for short-haul aircraft and business jets in particular is currently enormous,” says CEO Robert Machtlinger, explaining FACC’s strong revenue growth in the first half of 2024. Demand for lower-emission next-generation aircraft, as well as increases in passenger traffic, will further strengthen this growth in the coming years – by 2043, there will be a demand for over 42,000 new passenger aircraft on the international market.
These long-term and successful partnerships with its customers – including Airbus, Boeing, Bombardier, Comac, Embraer, Pratt & Whitney and Rolls Royce – will enable FACC to grow significantly again in the first half of 2024. In addition to the increasing demand for established products, new projects are transferred to series production and ensure additional growth within the company. The new Chinese commercial aircraft COMAC C919, which was certified for flight operations last year, also increases construction rates and is another important strategic project that supports FACC’s growth targets. In addition, development contracts in the area of drone development are generating increasing revenues, and various customers have already placed development orders with FACC worth more than USD 90 million through 2027.
In the first half of 2024, the expansion of Plant 6 in Jakovlje (Croatia) for the production of aircraft components for cabin interiors was completed on schedule. In addition to tripling the production area, service capacities were built up on site to support FACC’s central functions. The location in Croatia, with its attractive cost structures, will thus make a significant contribution to increasing the efficiency and earnings of the FACC Group in the future.
Within the last 12 months, FACC’s workforce has grown by 604 FTEs (full-time equivalent) at all international locations – 265 new employees have been hired since the beginning of the year 2024. This strong growth course is based on FACC’s successful positioning as an attractive employer – FACC is among the TOP 3 employers in the industry throughout Austria. A focus on working in a way that is appropriate to all life phases, with flexible working hours or job-sharing models, home office and the possibility of part-time management positions makes a significant contribution to FACC’s ability to successfully recruit personnel on the international labor market and thus create the basis for further company growth. FACC currently employs specialists from 50 nations at its locations, and the proportion of women is around 30%.
The outlook for the 2024 financial year remains unchanged: For the 2024 financial year, FACC’s management expects a revenue growth of 10 – 15 % and an increase in profitability compared to the 2023 financial year. In order to compensate for the disproportionately high increase in personnel and non-wage labor costs in Austria in direct comparison to global competitors, additional Group-wide cost reductions and efficiency increases will be implemented in addition to the continuous improvement measures in order to gradually further improve FACC’s competitiveness in the long term.
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