FACC Company News - FY 19 results, Covid-19 impact and CC takeaways
In an ad hoc statement sent out shortly after the annual report publication FACC analysed the impact of Covid-19 on its operations and assumes today that there will be noticeable demand restrictions in the next quarters. This was also the main topic of the conference call today. As a result of the unclear coronavirus impact the company withdrew its guidance from the annual report and also suspended the dividend for FY 19. The company does not expect to be able to provide more visibility until mid- FY 20. Regarding FY 19 results revenues, EBIT and net debt were fully in line with preliminaries published last month amounting to EUR 665 mn, EUR 34.6 mn and EUR 213.2 mn (Net Debt to EBITDA 2.97x).FACC AG is an Austria-based company engaged in the aerospace and defense industry. The Company specializes in the manufacture of aircraft parts and components. It divides its business into three divisions: Aerostructures, Engines & Nacelles, and Interior. The Aerostructures division covers control surfaces, fairings and wing components. The Engines & Nacelles division provides engine and nacelles components. The Interior division offers interior design services for commercial aircraft, business jets/private jets, freighters and helicopters. The Company's services range from on-site support with field engineering, spares service, and repairs to assembly training of customer staff for components and systems delivered by the Company. The Company's products are manufactured at four production sites in Austria.
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