FACC AG Reports Strong Financial Results for Fiscal Year 2010/2011
Aerospace component manufacturer FACC AG announced robust financial performance for the 2010/2011 fiscal year. The company saw its revenue increase by 8% to 272 million Euros, with a significant improvement in operational earnings.
Ried, Austria – FACC AG, a manufacturer of aerospace components, reported a strong financial performance for the 2010/2011 fiscal year, marking a return to its planned growth trajectory. The company's revenue rose by 8% to 272 million Euros, up from 251 million Euros in the previous year. This growth outpaced initial economic forecasts from late 2009, benefiting from a better-than-expected global economic trend and a stabilization in the aircraft industry during the latter half of the fiscal year.
The company's operational earnings saw significant improvement. Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) reached 42.6 million Euros, an increase of 16.8 million Euros year-over-year. Profit from ordinary business activities before market values (EBT) grew substantially from 7.4 million Euros to 24.8 million Euros. Earnings Before Interest and Tax (EBIT) saw a substantial jump of 220%, reaching 26.3 million Euros.
"We can be very happy with business developments during the past fiscal year. We have generated positive revenue growth, achieved new records for earnings, and have more than fulfilled our objectives for the entire year," stated Walter Stephan, Chief Executive Officer of FACC AG. Stephan highlighted the company's continuous efforts in optimizing value creation and efficiency through increased automation, which has boosted productivity and profitability.
FACC AG's order backlog stood at 2.88 billion USD at the end of the fiscal year, representing a significant 71.87% increase from the previous year's 1.68 billion USD. This strong order book is attributed to FACC's strategic partnerships with major aircraft manufacturers and its involvement in key aircraft programs such as the A350 XWB, Boeing 787, A380, A320, and Boeing 737. The company employed 1,661 individuals as of February 28, 2011, with 1,600 based in Austria.