FACC AG

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FACC AG

logo
legal form Corporation
ISIN AT00000FACC2
founding October 16, 1989
Seat Ried im Innkreis , Austria
AustriaAustria 
management Robert Machtlinger
Number of employees 3,402
sales 750.7 million euros (2017/18)
Branch Aeronautical engineering
Website www.facc.com
As of February 28, 2018

The FACC AG (formerly Fischer Advanced Composite Components ) is an Austrian company with Chinese core shareholder. The company's headquarters are in Ried im Innkreis , Upper Austria .

Industry and production

As a technology partner to the global aerospace industry, FACC designs, develops and manufactures innovative lightweight components and systems for aircraft and is active in the field of plastics processing. The company produces aircraft interiors, structural elements and components on the fuselage, wings and tail unit as well as engine parts and panels. FACC technology is used by many aircraft manufacturers such as Boeing , Airbus , Embraer , COMAC and Bombardier . The technology group is also a supplier for the engine and engine manufacturers Rolls-Royce and Pratt & Whitney . 99.8% of the Austrian production was exported in 2008/09.

  • Aerostructures division : Lightweight components in the wing, tail unit and fuselage areas are FACC's main business area.
  • Engines & Nacelles division : FACC also produces engine parts and cowlings.
  • Cabin Interiors Division : FACC produces the complete interior fittings, from luggage racks, ceiling panels and side wall cladding to washrooms for OEMs and airliners.
  • In the Aftermarket Services business area, FACC bundles maintenance and repair services as well as design services and modifications for all structural and interior areas.

The growth of the cabin interior industry prompted the Chinese majority shareholder AVIC to bundle competencies. Numerous companies, including FACC, AIM Altitude, Thompson Aero Seating, Jiatai and Fesher, which remain independent, have merged into the group. Together they produce almost all the elements of an aircraft cabin with galleys and aircraft seats.

In the 2017/18 financial year, FACC achieved annual sales of EUR 750.7 million and thus an increase in sales of 6.4 percent. The export quota is 99.7%. The company is listed in the Austrian leading index ATX on the Vienna Prime Market. It is one of the 20 largest and most widely traded companies on the Vienna Stock Exchange.

Locations and employees

FACC has four production plants in Austria, with the main plant (Plant 1) in Ried im Innkreis , two more in St. Martin im Innkreis and one in Reichersberg , all in western Upper Austria. The technology center in St. Martin im Innkreis was opened in September 2013.

Further branches are located in Vienna , Bratislava (Slovakia), Montreal (Canada), Seattle (USA), Wichita (USA), Sao Paulo (Brazil), Toulouse (France), Filton (Great Britain), Hamburg (Germany), Abu Dhabi (United Arab Emirates), Pune (India), Kazan (Russia), Zhenjiang (China), Shanghai (China) and in Bangalore (India). FACC employs around 3,500 people from 38 nations at 13 international locations worldwide.

history

Old logos
until 2016
2016-2019

FACC was founded in 1989 as a subsidiary of the ski manufacturer Fischer Sports . In 1991 Österreichische Salinen AG (renamed Salinen Austria ) took a 50 percent stake in FACC.

In 2008, the Fischer shares were taken over by ACC Cooperations and Beteiligungen GmbH. CEO Walter A. Stephan held shares through Stephan GmbH . At that time, the holdings were distributed as follows:

  • ACC Cooperations and Participations GmbH (48.125%)
  • Österreichische Salinen AG (48.125%)
  • Stephan GmbH (3.75%) (Management Board)

Today we have the following shareholder structure:

  • AVIC Cabin Systems Co ,. Limited (55.5%)
  • JP Morgan Asset Management (UK), LTD (4.2%)
  • Free float (40.3%)

On December 3, 2009, FACC officially announced that it had acquired 91.25% of the Chinese aircraft manufacturer Xi'an Aircraft Industrial Corporation (XAC). 5% of the company remained in the possession of ACC and Stephan GmbH still owns 3.75%. Since the IPO in 2014, 44.5% of the shares in FACC have been in free float . Until May 2016, CEO was co-owner Walter A. Stephan, followed by Robert Machtlinger as CEO on an interim basis . On February 13, 2017, Robert Machtlinger was formally confirmed by the Supervisory Board. The Board of Management consists of Robert Machtlinger (CEO), Andreas Ockel ( COO ), Ales Starek ( CFO ) and Yongsheng Wang ( CCO ).

At the beginning of 2016, FACC was defrauded of 50 million euros in a cyber attack.

According to the annual report, the shares were distributed as follows as of February 28, 2018:

  • FACC International Company Ltd., Hong Kong, directly or indirectly with 55.5%
  • Free float 44.5% (no shareholder with more than 10%).

In the course of the corona crisis , air traffic was massively reduced for months, most of all in the 2nd quarter of 2020. As a result, aircraft orders and production fell sharply, which affects FACC as a supplier. FACC has had short-time working in Austria since March , the occupancy sank from almost 100% to 50%, it is hoped (as of August 20, 2020) to be able to increase the occupancy again to 70% in September 2020. An operating loss of EUR 55 to 65 million is expected for 2020. The retrieval of outsourced processes and staff reductions are aimed for. In 2021, sales like 2020 are expected and a recovery to the pre-Corona level will only be in 4 to 5 years.

Individual evidence

  1. ↑ Annual Report 2016/17 , website of the company, accessed on March 2, 2020 (PDF; 4.39 MB)
  2. ↑ a b c d Annual Financial Report 2017/18 , website of the company, accessed on May 17, 2018 (PDF; 1.65 MB)
  3. ↑ FACC AG. Retrieved March 26, 2019 .
  4. ↑ FACC receives a major order of 230 million euros from Airbus. In: standard.at. July 17, 2018, accessed March 26, 2019 .
  5. ↑ FACC receives 100 million euro order orf.at, June 19, 2017, accessed June 20, 2017.
  6. ↑ FACC company profile on the Vienna Stock Exchange. In: wienerborse.at. Retrieved March 26, 2019 .
  7. ↑ AT&S and FACC move into the Austrian ATX index. In: handelsblatt.com. March 29, 2018, accessed March 26, 2019 .
  8. ^ Austrian Aviation Net. FACC: New technology center opened. Retrieved March 26, 2019 .
  9. ↑ Press release from FACC AG. May 25, 2016. Retrieved March 26, 2019 .
  10. ↑ FACC: “Cyber ​​attack” was an internal fraud. orf.at, January 20, 2016, accessed January 20, 2016.
  11. ↑ FACC: up to EUR 65 million loss - job cuts orf.at, August 20, 2020, accessed August 20, 2020.

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