EANS-Adhoc: Polytec Holding AG / Results for the first quarter 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
announcement.
--------------------------------------------------------------------------------

11.05.2011

In the first three months of 2011, the POLYTEC GROUP was able to report an
increase in both sales and earnings. Group sales rose by 21.9% to EUR 200.8
million in the first quarter 2011. This significant growth is still attributable
to the solid market development of the series-production business, which was
mainly driven by the consistently strong sales development of the German OEMs in
the BRIC countries as well as by the dynamic performance of the commercial
vehicle segment.
In the first quarter 2011, POLYTEC GROUP´s EBITDA was quadrupled to EUR 15.2
million reflecting the positive sales performance compared to the same period of
the previous year. This corresponds to an EBITDA margin of 7.5%. The two
production sites (Zaragoza, Waldbröl), which had considerably impacted results
in the previous year, showed a significantly improved performance in the first
quarter of the reporting year thanks to the restructuring measures implemented
in 2010. A negative factor that impacted results for the first quarter 2011 was
represented by the price development of crude oil-based raw materials.
All in all, the company´s favourable performance resulted in a net profit of EUR
8.0 million in the first quarter 2011, which was not influenced by any
operational one-off effects. This corresponds to earnings per share of EUR 0.35
compared to a negative amount of EUR 0.25 in the previous year. The result for
the period of the POLYTEC GROUP was not impacted by any significant one-off
effects in relation with the earthquake and the nuclear catastrophe in Japan or
by any major related supply difficulties.

in EUR million     Q1 2011 Q1 2010 Change in %
Sales              200,8   164,7   21,9%
EBITDA             15,2    3,6     321,2%
EBIT               9,3     -3,3    
Net income         8,0     -5,5    
                                   
EBITDA margin      7,5%    2,2%    
EBIT margin        4,7%    -2,0%   
                                   
Earnings per Share  0,35   -0,25

Outlook

For the full-year 2011, POLYTEC management expects a slight organic growth in
sales despite the divestment of the Italian subsidiary POLYTEC Composites Italia
S.r.l. at year-end 2010, which had contributed around EUR 30 million to Group
sales in the previous year (please also refer to the ad hoc release as of
December 29, 2010).
It is anticipated that the Group´s operating result will show a disproportionate
increase compared to sales. This will be mainly attributable to the consistent
implementation of operating structural measures and the resulting improvement in
productivity, as well as to cost reductions (fixed cost digression) and an
overall positive economic outlook.
Based on the persisting trend towards consolidation within the automotive supply
industry, the company´s management is currently evaluating the potential to
seize growth-enhancing acquisition opportunities going forward.

The interim report Q1 ist available for download via 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
--------------------------------------------------------------------------------

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

OTS-ORIGINALTEXT PRESSEAUSSENDUNG UNTER AUSSCHLIESSLICHER INHALTLICHER VERANTWORTUNG DES AUSSENDERS - WWW.OTS.AT | OTB

print