FACC AG: Preliminary Results for the Short Fiscal Year 2019

    Feb. 26, 2020
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    FACC AG was able to achieve its goal in terms of both sales and earnings in the short financial year 2019 (March 1 – December 31). Sales reached EUR 665 million. Operating profitability was kept at the previous year's level at 5.2 percent. The EBIT amounts to EUR 34.6 million.

    Net debt amounted to EUR 213.3 million on December 31, 2019. The increase in net debt is largely due to the first-time application of IFRS Standard 16 “Leases.”

    FACC confirmed the medium-term growth and earnings targets communicated at the beginning of the year. For the next five years, taking current market information into account, an average sales growth of 5 percent (CAGR) and a target margin (EBIT) in the range of 8 – 10  percent is expected.

    In the coming periods, FACC will - as already informed - concentrate on a sustainable increase in profitability through an efficiency improvement program of up to EUR 50 million. There are plans to streamline the supply chain through increased vertical integration - such as the insourcing of the production of strategic component groups - as well as a Group-wide optimization of business processes.

    The report on Q3 2019 was also published today (notice announcement).

    The stated values are still unaudited preliminary IFRS figures from FACC AG. FACC AG's annual financial report and the outlook for the 2020 financial year will be published on March 25, 2020.