Polytec Holding AG

EANS-Adhoc: Polytec Holding AG
Results for the first nine months 2011

  ad-hoc disclosure transmitted by euro adhoc with the aim of a Europe-wide
  distribution. The issuer is solely responsible for the content of this
9-month report


-       Group Sales decreased by 4,2 % to EUR 527.3 mill.
-       EBITDA of EUR 51.3 mill. / +69,7 %
-       EBIT Marge of 5.6 % (adjusted)
-       Euqity ratio of 41.7 %
-       Nett Cash Position of EUR 10.5 mill.
-       Outlook 2011 raised
-       Management proposal for a dividend payment for 2011

in EUR mill               Q3 2011   Q3 2010  CHANGE IN %  1-9 2011   1-9 2010 
Sales                    121.9     184.4     -33.9%      527.3      550.2     
EBITDA                   11.3      13.6      -17.3%      51.3       30.2      
EBIT                     7.8       6.8       14.7%       36.8       9.8       
Net income               5.9       9.9       -40.3%      31.8       8.7         
EBITDA margin (adjusted) 9.2%      7.4%                  8.4%       5.5%        
EBIT margin (adjusted)   6.4%      3.7%                  5.6%       1.8%        
Earnings per share       0.26      0.43      -41.3%      1.40       0.36      

In the first nine months 2011, group sales decreased by 4.2% to EUR 527.3
million mainly due to the divestment of the Interior business and of POLYTEC
COMPOSITES Italia. Adjusted for these effects, group sales from continuing
operations increased by roughly 10% in the period under review. In the period
under review, the POLYTEC GROUP recorded an extremely positive development of
both sales and production volumes in the passenger car and commercial vehicle
segments. This growth was supported by a 5% production increase registered by
the European OEMs in the first nine months 2011. 

In the first nine months 2011, EBIT amounted to EUR 36.8 million at the group
level. Adjusted for the deconsolidation gain as a result of the divestment of
the Interior business, adjusted EBIT and adjusted EBIT margin amounted to EUR
29.6 million and to 5.6% respectively in the period under review. 

In addition to the optimization of financing terms over the short and long term,
the considerable decline in financing costs by almost 50% to EUR 2.7 million in
the period under review is mainly attributable to interest yields realized from
the assessment of funds totaling approximately EUR 30 million as well as to
interest yields resulting from interest-bearing account receivables from Toyota
Boshoku, which are shown in the balance sheet. 

All in all, the POLYTEC GROUP recorded a net income (after minority interests)
of EUR 31.2 million in the first nine months 2011. This corresponds to earnings
per share of EUR 1.40.

In the third quarter of 2011, the sales guidance for the full-year 2011 was
revised upwards to reflect the favorable business performance of the POLYTEC
GROUP in the period under review as well as the solid order situation expected
for the fourth quarter of 2011. Thus, for the full year 2011 group sales are
expected to amount to approximately EUR 650 million up from EUR 620 million as
previously anticipated.
This improved sales guidance includes the favourable effects from the divestment
of the Interior business and of POLYTEC COMPOSITES Italia as well as the
expected positive sales contributions from PPI Plastic Products Innovation,
which was acquired on August 31, 2011. All other figures presented in the
outlook for the full-year 2011 at the end of the first half of 2011 remained
unchanged. Furthermore, the EBIT margin for the full-year 2011, adjusted for the
one-off effects mentioned above, is anticipated to reach the same level as in
the first nine months of 2011. 

Based on this outlook, the Board of Directors will resume dividend payments for
the 2011 financial year after a three-year interruption, as announced at the
last AGM of the POLYTEC GROUP as of May 19, 2011.

The full interim report ist available for download on www.polytec-group.com


Further inquiry note:
POLYTEC GROUP           
Investor Relations

end of announcement                               euro adhoc 

issuer:      Polytec Holding AG
             Linzer Straße 50
             A-4063 Hörsching
phone:       +43 (0) 7221 / 701-0
FAX:         +43 (0) 7221 / 701-0
mail:     investor.relations@polytec-group.com
WWW:      www.polytec-group.com
sector:      Industrial Components
ISIN:        AT0000A00XX9
indexes:     ATX Prime
stockmarkets: official market: Wien 
language:   English

Weitere Meldungen: Polytec Holding AG

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