euro adhoc: Polytec Holding AG / Financial Figures/Balance Sheet / Results of the first nine months 2008 (E)

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05.11.2008

The positive sales development in the first nine months of 2008 was due to a
favorable sales trend in the commercial vehicle industry and foremost to the
effects resulting from the acquisitions made in the previous business year,
which contributed to a positive development of results at group level in
addition to a significant increase in sales. POLYTEC GROUP´s sales grew by 27.2%
to EUR 595.2 million. EBITDA increased in the first nine months of 2008 by 10.1%
to EUR 46.6 million. the equivalent of an EBITDA margin of 7.8%. The
year-on-year decline of the EBITDA margin from 9.1% to 7.8% was due to an
unfavorable development of operations in the Automotive Systems Division.

in EUR million              Q3 2008 Q3 2007 %      1-9 2008 1-9 2007 %
Sales                        182.3   181.1  0.7%    595.2    467.8   27.2%
EBITDA                       9.9     13.6   -27.0%  46.6     42.4    10.1%
EBIT                         3.0     7.0    -56.7%  26.1     26.2    -0.5%
Net income                   0.5     4.3    -87.4%  16.1     18.4    -12.7%
                                                                     
EBITDA Margin               5.5%    7.5%           7.8%     9.1%     
EBIT Margin                 1.7%    3.8%           4.4%     5.6%     
                                                                     
Earnings per Share (in EUR)  0.02    0.19   -87.4%  0.72     0.82    -12.2%

The unfavorable development was, as reported in the previous quarters of 2008,
not only attributable to a number of factors with a negative impact on earnings.
This downward trend was due to a general decline in sales as a result of reduced
OEM production volumes which had already started in the third quarter of 2008.
This negative trend was further impacted by higher-than-expected start-up costs
for new projects, which in turn led to increased material costs and
extraordinary expense items (i.e. leased staff). A further contribution resulted
from the price development on the raw material and energy markets. Against the
backdrop of the current challenging market environment, targeted potentials were
not achieved. This situation is not expected to improve by year-end.

OUTLOOK

Due to the first-time consolidation of PEGUFORM GROUP as of October 1, 2008 and
its contribution to both group sales and earnings, the outlook for the 2008
business year must be boosted. PEGUFORM GROUP will contribute roughly EUR 300
million to POLYTEC GROUP sales in the fourth quarter of 2008, which will result
in combined sales of approximately EUR 1.1 billion. The newly acquired business
will make a positive contribution to net income and earnings per share for the
full-year of 2008.

ORGANIC DEVELOPMENT OF POLYTEC GROUP

Due to the expected slowdown in the business performance in the fourth quarter
of 2008 as the result of an unfavorable market development for the automotive
supplier industry and the output reduction announced by the European OEMs, the
EBITDA margin target of 8% (excluding the effects from the first-time
consolidation of PEGUFORM GROUP) will not be met despite expected sales of EUR
800 million for the full-year of 2008.
The effects from the prolonged company vacation periods and the temporary
suspension of production operations announced by the OEMs cannot be quantified
at present. The impact on results affected by the aforementioned measures can
only be counteracted in the short-term by reducing overtime and the number of
leased staff. For these reasons, more detailed information about the earnings
development cannot be provided from today´s perspective. However, it is expected
that the original margin target of 8% will not be considerably underperformed.

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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