FACC (FACC) Q4 2024 earnings summary

Executive summary

• Achieved record revenue of EUR 884.5 million in FY2024, up over 20% year-over-year, with EBIT rising 62% to EUR 28.3 million, though still below pre-pandemic levels.

• All business units experienced significant growth, with workforce increasing to 3,850 FTE.

• Maintains a stable long-term order book exceeding EUR 5.8 billion, supporting future planning and investments.

• Aerospace market continues robust recovery, with record 4.9 billion passengers in 2024 and strong demand in Asia, Middle East, and China.

• Order backlog in the aviation industry reached 17,084 aircraft as of year-end 2024.

Financial highlights

• FY 2024 revenue reached EUR 884.5 million, up from EUR 747.6 million in FY 2023 and EUR 801 million pre-COVID.

• EBIT increased to EUR 28.3 million (3.2% margin) from EUR 17.5 million (2.4% margin) in 2023.

• Free cash flow remained positive at EUR 7.7 million, but was impacted by high inventories and is targeted for improvement.

• Net financial debt stood at EUR 180.9 million, with a leverage ratio of 3.60.

• Equity ratio stands at 30%, above the 25% covenant requirement.

Outlook and guidance

• Forecasts 5%-15% revenue growth for 2025, with all business segments contributing and guidance to be refined after Q1/Q2 due to market volatility.

• Expects continued growth in core and advanced air mobility businesses, with scaling effects and cost initiatives to drive profitability.

• Cabin interiors division targeted to break even and achieve sustainable profitability in 2025.

• EBIT targets set to return to 2018 levels within three years.

• Key priorities include ramp-up execution, cost reduction, and local-for-local strategies.