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

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Disclosure announcement transmitted by euro adhoc. The issuer is responsible
for the content of this announcement.
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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).

Further inquiry note:
Manuel TAVERNE
POLYTEC GROUP
Investor Relations
Tel.+43(0)7221/701-292
[email protected]

end of announcement euro adhoc
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emitter: Polytec Holding AG
Linzer Straße 50
A-4063 Hörsching
phone: +43 (0) 7221 / 701-0
FAX: +43 (0) 7221 / 701-0
mail: [email protected]
WWW: www.polytec-group.com
sector: Industrial Components
ISIN: AT0000A00XX9
indexes: ATX Prime
stockmarkets: official market: Wiener Börse AG
language: English

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