At the Upper Austrian aircraft supplier FACC, which is also suffering from the corona crisis, the third quarter went better than expected.
As announced by Airbus, the build rates of the most important FACC platform (A320 family) are developing very positively. The market development - the opening of US flights from November 8th for vaccinated EU citizens - is "an important stimulus," the company said on Wednesday.
Sales in the third quarter of EUR 118,1 million were above the same period in the previous year (EUR 101,5 million), while earnings before interest, taxes, depreciation and amortization were positive at EUR 7,6 million after EUR -10,8 million Annual deadline. Earnings before interest and taxes (EBIT) turned positive compared to 0,1 million euros (after -18,6 million euros). It is particularly gratifying that the third positive quarterly EBIT in a row was achieved in the third quarter despite the seasonally weaker summer months, FACC said in a press release. The bottom line, however, was that earnings after taxes remained slightly in the red at EUR -2,0 (-20,7) million. In the nine months together, sales were below the previous year at EUR 358,3 (398,5) million. EBITDA improved significantly to EUR 28,2 (3,3) million, EBIT from EUR -53,0 million to EUR 2,9 million and net income from EUR -60,3 million to EUR 1,1 million.
Due to the defeat in a legal dispute with a supplier, FACC only lowered its earnings forecast for EBIT significantly on Tuesday. Due to an extraordinary legal burden, one is expecting a negative EBIT of 25 to 30 million euros this year, it said. In August, EBIT was expected to be slightly positive for this year. The operating result of FACC continues to develop without deviations from the plan, emphasized the company on Wednesday. In this respect, the expectations for the group's annual sales for the year as a whole would remain unchanged at around 500 million euros.
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