The Austrian aviation supplier FACC AG had to record a 32,6 percent decrease in sales of 392,8 million euros in the first nine months of the current financial year. The operating result amounts to minus 57,5 million euros, whereby according to the board of directors this is negatively impacted by special effects of 48,5 million euros.

Nevertheless: FACC AG saw a 2020 percent increase in demand in September 30 and dares to speak cautiously of a possible trend reversal. "The recovery of the global markets is expected to progress slowly, reaching the pre-corona level can take until 2024 from today's perspective. In response to the new market assessments, FACC announced in mid-September that an adjustment of the capacities was inevitable and as a result the group would reduce the workforce by 650 employees in the fourth quarter. A social plan was agreed for the employees affected. In addition, FACC ended short-time working in almost all areas of the group at the end of September, ”said the company.

The global corona crisis will keep society and the markets busy for even longer. FACC closely monitors and analyzes developments and takes targeted strategic and operational measures in order to adapt quickly and decisively to the new requirements. Fixed costs will be reduced with a group-wide optimization program, vertical integration in the field of metalworking will continue to be pushed for the purpose of reducing material costs and the planned new construction of the FACC location in Croatia will be adjusted in design and size or implemented with a delay. The insourcing of previously outsourced components is proceeding according to plan and will increase the capacity utilization of the plants from the beginning of 2021.

“With the measures taken, we are securing around 100 highly qualified jobs at the site in the long term and thereby preventing the loss of valuable employee know-how. From today's perspective, we are planning annual sales of between EUR 500 and 520 million despite the fact that the markets are still very dynamic. In terms of earnings, we continue to expect EBIT in a range of -55 to -65 million euros, ”says CEO Robert Machtlinger.