After the huge crash of the corona pandemic, the aviation industry cannot be stopped, even if strikes such as the recent one at Boeing do not exactly help. Be that as it may, the FACC can continue to benefit from the general upturn. The aircraft supplier from Upper Austria increased sales by 25 percent in the first three quarters of 2024.
From 513.9 million euros after three quarters of 2023, FACC increased sales to 642.6 million euros at the end of September 2024 – a circumstance that the company led by Robert Machtlinger attributed to the continued strong growth of the aviation industry and the associated large demand for passenger transport. aircraft.
Profit after tax 5.2 million euros
But: The strong increase in location costs in Europe and especially in Austria is putting pressure on the results of the Innviertel company. The aircraft supplier was able to put its profit after tax in the black, but only achieved a profit of 5.2 million euros in nine months.
This has already been responded to: in August, Machtlinger, together with CFO Florian Heindl, reported that efficiency improvements in production had become necessary because higher construction rates had to be implemented while the workforce was not growing at the same rate. . At the same time, a cost savings program was adopted. This will lead to a gradual and sustainable increase in profitability from next year.
Stocks must be reduced by 10 million euros
Inventories are also reduced. Management expects that the stock will be reduced by at least ten million euros by the end of this year.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
