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Polytec Holding AG

euro adhoc: Polytec Holding AG
Mergers - Acquisitions - Takeovers
POLYTEC HOLDING AG announces the successful closing of the acquisition of PEGUFORM GROUP.

  Disclosure announcement transmitted by euro adhoc. The issuer is responsible
  for the content of this announcement.
Company Information/POLYTEC
22.10.2008
POLYTEC GROUP acquires 100% of the shares of PEGUFORM GROUP from 
Cerberus Capital Management L.P. for a purchase price of 218.5 mill. 
EUR. The purchase price comprises of a payment for 100% of the shares
and the assumption of shareholder loans from Cerberus.
For POLYTEC GROUP, the acquisition of PEGUFORM GROUP is not only a 
major step forward to a global positioning of the group, but also the
significance to important customers increased and the market position
with respects to core products improved. As a result of the 
acquisition, POLYTEC GROUP advances to the TOP 100 suppliers of the 
automotive industry worldwide (approx. position 60) with combined 
annual sales of 2.2 bn EUR. As of October 1, 2008 the results of 
PEGUFORM GROUP will be first-time consolidated and to that effect 
contribute to POLYTEC GROUP results 2008 with 3 months.
EARNINGS DEVELOPMENT OF PEGUFORM GROUP
In 2007 PEGUFORM GROUP achieved sales of 1.4 bn EUR and an EBITDA of 
122.4 mill. EUR. In the first half 2008 PEGUFORM GROUP achieved sales
of 784.1 mill. EUR and an EBITDA of 51.4 mill. EUR.
PROFORMA CONSOLIDATED FIGURES AS OF JUNE 30, 2008
H1 2008              POYLTEC  PEGUFORM COMBINED GROUP*
Sales                 412.9    784.1    1,197.0
EBITDA                36.7     51.4     88.1
EBITDA Margin        8.9%     6.6%     7.4%
as of June 30, 2008  POYLTEC  PEGUFORM COMBINED GROUP*
Equity                168.6    279.1    174.0
Net financial debt    24.6     126.7    369.9
Balance sheet total   446.5    768.2    1,102.0
Equity ratio         38%      36%      16%
Gearing              15%      73%      213%
* Combined figures according to IFRS / proforma and unaudited - 
Balance sheet figures as of June 30, 2008 include a purchase price of
218,5 mill. EUR. A detailed Purchase Price Allocation (PPA) is in 
progress and not displayed in the chart.
OUTLOOK 2008
The outlook, given in the course of the half year financial results 
of POLYTEC GROUP, is, despite a difficult market environment, still 
valid. It is the companies target to achieve Group sales of 800 mill 
EUR and an EBITDA margin of 8% for the business year 2008. As a 
result of the first-time consolidation of PEGUFORM GROUP as of 
October 1, 2008 the sales guidance for the current business year has 
to be increased significantly. PEGUFORM GROUP will contribute to 
sales with approx. 300 mill. EUR and therefore sales of POLYTEC GROUP
will be at least 1.1 bn EUR by the end of the business year. The 
acquisition of PEGUFORM GROUP will also have a positive contribution,
both as a result of its operating performance and also because of the
implications of an acquisition below book value of equity, to net 
income and furthermore to Earnings Per Share (EPS).
end of announcement                               euro adhoc

Further inquiry note:

Manuel TAVERNE
POLYTEC GROUP
Investor Relations
Tel.+43(0)7221/701-292
manuel.taverne@polytec-group.com

Branche: Industrial Components
ISIN: AT0000A00XX9
WKN: A0CA1R
Index: ATX Prime
Börsen: Wiener Börse AG / official market

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