EANS-Adhoc: Polytec Holding AG / Results for the first half 2009

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05.08.2009

Hörsching, August 5, 2009 (VSE: PYT) - Significant impact of the negative
economic environment impacted also the results of the second quarter of POLYTEC
GROUP. Thus the worldwide slump within the automotive industry lead to a
decrease in sales as well as in earnings figures of the Group.

POLYTEC GROUP´s sales were further impacted by a negative market environment in
Q2 09, although they showed a slightly positive trend compared to Q1 09 due to
our customers´ increased number of production days during the period under
review. Group sales dropped by 29.5% to EUR 291.2 million in the first half of
2009 compared to the same period of the previous year. PEGUFORM GROUP´s sales
figures were not included due to the planned divestment of this business
segment.
Due to the adoption of counter-measures in Q1 09, which enabled the alignment of
costs to the predominant sales development, the group´s earnings situation was
slightly improved during Q2 09, with EBITDA amounting to EUR -0.4 million.
Cost-cutting measures encompassed the introduction of short-time working
schedules, the discontinuation of fixed-term employment contracts as well as the
reduction of non-essential capital expenditures. Earnings before interest and
taxes (EBIT) amounted to EUR -21.6 million in Q2 09. The net result during the
reporting period of the PEGUFORM GROUP, which is categorized as "held for
disposal" pursuant to IFRS 5, is included in the net result of the reporting
period with a total value of EUR -50.5 million. Net result during the reporting
period also encompasses the retirement of fixed assets from the current business
for a total amount of EUR -25.5 million as well as the impairment of the
PEGUFORM GROUP´s fixed assets for the anticipated disposal gain of EUR

25.0
million. 
Therefore, net loss during the reporting period amounted to EUR -74.6 million.
Excluding the PEGUFORM GROUP´s contribution to the net result, which is
comparable with the net profit of the previous reporting period after minority
interests, the net loss totalled EUR -24.1 million
Outlook 2009
As announced in the full-year 2008 and Q1 09 financial reports, group sales in
2009 are not expected to exceed EUR 600 million. For the passenger car segment a
slight improvement of the situation is anticipated, as demonstrated by the
call-off order figures of POLYTEC´s customers, whereas no short-term recovery
for the HGV segment can be expected at present.
Based on the anticipated sales figures, the group will certainly not be able to
prevent a negative EBIT in 2009, as announced in the previous interim reports.
The ultimate decline in the operating business will mainly depend on the
company´s ability to compensate for drops in results especially within the HGV
segment with contributions from the customers. 

The half year financial report is available for download on
www.polytec-group.com .


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: Wien
language: English

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