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The operating result (EBIT) went from plus 9.7 to minus 57.5 million euros in the first nine months of this year. Sales fell from 582.6 million to 392.8 million euros. All areas were affected. Recently, aviation has slowly recovered, by September the FACC reported a 30 percent increase in demand, and there was a recovery in Asia in particular.
The workforce “adjustment” was completed early in the fourth quarter. In mid-September, FACC announced that there would be a reduction of 650 employees. As of 9/30 the company had 3,296 employees, up from 3,371 the previous year.
The outlook for 2020 as a whole was confirmed. “In view of the overall situation, customer requests in July and August were up to 50 percent lower than the previous year. There was a clear trend reversal in September,” Chief Executive Robert Machtlinger said in a broadcast. on Wednesday.
As already announced, the operating result for the first nine months of 2020 includes one-time effects due to impairments and changes in estimates in relation to the Corona crisis. “In total, the result of the first nine months is loaded with special effects amounting to 48.5 million euros. The operating result, adjusted for special effects, amounted to minus nine million euros and was largely due to the lower capacity utilization of plants since the beginning of the second quarter of 2020 after the outbreak of the COVID-19 pandemic, “said the FACC. Short-term work has been completed in almost all areas of the group.
Regarding the outlook, Machtlinger said: “From today’s perspective, we are planning annual sales between 500 and 520 million euros, even though the markets remain very dynamic. In terms of earnings, we continue to expect EBIT in a range from minus 55 to minus 65 million euros “.
