FACC, an Austria-based supplier of aircraft cabin technologies and lightweight systems, has released its financials for Q3 2022, which are showing strong growth and recovery from the pandemic. Headline figures include revenue of EUR 149.5 million in Q3/2023, an increase of 26.6% compared to Q3 2021. In the first nine months of 2022, the company generated revenue of EUR 419.6 million, representing an increase of 17.1%.
‘The aviation industry continued on its growth path in the third quarter as planned – demand for new and low-emission aircraft has significantly increased internationally’, reads a company statement. Another source of growth are the space and urban air mobility sectors, for which FACC is significantly expanding its production volume for lightweight hardware.
This growth means that the company needs to recruit an additional 500 members of staff over the next 18 months for the ongoing production ramp-up in all FACC divisions. The hiring process in underway, with more than 250 new employees successfully recruited since January 2022.
FACC’s financial projections for the full 2022 financial year include revenue growth of approximately 10%, taking it to EUR 550 million, and EBIT (earnings before interest and taxes) in the low double-digit million range. The company’s focus in the fourth quarter of 2022 will be on increasing production rates as planned, and implementing further measures to enhance efficiency. FACC continues to expect its revenues to return to pre-crisis levels in 2024 – 2025.