EANS-Adhoc: Polytec Holding AG / RESULT OF POLYTEC GROUP FOR THE FIRST NINE MONTHS 2010

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03.11.2010

- Recovery of the automotive industries continued also in Q3 2010
- Group sales for the first nine months increased by 26.9% to 550 mill. EUR
- Consequent implementation of efficiency measures results in a notable
improvement of the earnings situation and an EBITDA margin of 5,5 %
- Earnings per shares of 0,36 EUR (1-9 2009: -1,31 EUR)
- Increase of outlook for 2010: Sales of about 750 mill. EUR and an EBITDA of at
least 40 mill EUR is expected

Q3 2010 Q3 2009 Change in % 1-9 2010 1-9 2009 Change in %
Sales               184,4   142,5   29,4%       550,2    433,7    26,9%
EBITDA               13,6     3,8  255,4%        30,2     -3,2     
EBIT                  6,8    -3,5                 9,8    -25,1    
Result from continued operations    
                      9,9    -5,1                 8,7    -29,2    
Result from discontinued operations 
                      0,0    12,6                 0,0    -37,9    
Net income            9,9     7,6   31,6%         8,7    -67,1    
                                                                                
 
EBITDA margin        7,4%    2,7%                5,5%     -0,7%    
EBIT margin          3,7%    -2,4%               1,8%     -5,8%

The positive dynamic business trend registered in the previous reporting periods
also continued in the third quarter 2010, with group sales showing considerable
growth of roughly 30% to EUR 184.4 million. In the first nine months of 2010
this increase amounted to 26.9% or EUR 116.5 million. Group EBITDA also showed a
favorable development in the third quarter 2010, rising to EUR 13.6 million
compared to EUR 3.8 million in the same period of the previous year. In the
first nine months of 2010, group EBITDA amounted to EUR 30.2 million, which
corresponds to an EBITDA margin of 5.5%.
In addition to the global recovery trend of the market, this favorable
performance of group EBITDA is mainly attributable to the implementation of
efficiency measures and the continued high cost awareness of the management.
Nevertheless this fairly positive earnings development has to be seen in the
context of the continued need for remedial action in the "problem areas" of the
Automotive Systems Division (please refer to the segment reporting and the
outlook for further details in this regard).
The first half of 2010 was marked by the achievement of a turnaround at the
group level with the company´s operating result turning positive for the first
time since the beginning of the financial and economic crisis. This favorable
development also continued in the third quarter of 2010, with net profit for the
period amounting to almost EUR 9 million after a loss of EUR 97 million in the
previous year.

OUTLOOK

Based on the dynamic development of the automotive and commercial vehicle
industry, which continued in the third quarter of 2010 und the forecasts for the
rest of the year, total group sales of EUR 750 million are anticipated for the
full year 2010. Compared to the interim report for the half year 2010, sales
forecasts for the full-year 2010 have been significantly raised. However, a
certain degree of insecurity with regard to the actual development until
year-end persists. This improved forecast will logically also have a positive
impact on the development of earnings, with full-year EBITDA expecting to total
at least EUR 40 million from today´s perspective.

However, it remains to be seen whether the turnaround measures currently
underway can be completed on time, thus averting the need for additional
restructuring measures with a negative impact on results.

The interim report for the first nine months 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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issuer: 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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