Fischer’s management had been describing the company’s investment in Fischer Advanced Composite Components (FACC) as a welcome offset for its weather-dependent winter sporting goods business. Company officials now say that Fischer and its partner in FACC, Salinen AG, are looking for a financially strong partner that can adequately support its strong development, both strategically and financially.

Fischer and Salinen each own 47.5 percent of FACC, a supplier of components for the automotive and aerospace industries that had revenues of €182.5 million in the past year. Fischer executive justify their retreat from this profitable company in view of considerable pre-financing requirements linked to the requests of Airbus and Boeing for its participation in future aircraft programs. Fischer, which remains a family-owned company, evaluates these requirements at up to €200 million for the coming years.

The lack of snow earlier this year will lead to a major drop in Fischer’s ski deliveries that will have an impact on its financial resources, especially in view of recent investments in personnel and equipment. A partial or total disposal of its stake in FACC could help the Fischer through the difficult times.

In the meantime the company signed up a top-notch financial management consultant, Gerhard Wüest, to act as chief financial officer of Fischer for one year, starting last July. The 38-year-old specialist, who has worked at Cap Gemini Eernst & Young, teaches controlling and growth and process-controlled management at Vienna’s University of Economics and Business Administration.

At Fischer he will help restructure Fischer’s accounting, controlling and financial reporting. He will develop the implementation of an extensive new performance management program, introducing risk management procedures and modernizing the group structure. Existing logistics processes will be optimized.