EANS-Adhoc: Polytec Holding AG / PRELIMINARY RESULTS 2008 OF POLYTEC GROUP

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30.03.2009

Hörsching, March 30, 2009 (VSE: PYT) - In the business year 2008, POLYTEC GROUP
for the first time generated sales of more than 1 billion Euro. Preliminary
sales increased, as a result of full year effects of, in 2007, acquired
companies and the acquisition of PEGUFORM GROUP (contributes to sales with the
fourth quarter 2008), by 62.7 % to 1,081.8 bn EUR compared to 2007. Preliminary
EBITDA increased by 12.3 % to 71.6 mill EUR. But, due to the fundamental
deterioration of the automotive market environment occurred in the fourth
quarter 2008, the EBITDA margin decreased to 6.6 % for the full year 2008 (2007
9.6 %). EBIT decreased as a result of goodwill amortisation by 43.0 % to 23.4
mill EUR.
It is the management´s definite objective, to emerge POLYTEC GROUP as a strong
and strategic important partner of the automotive industry from the crisis.
Therefore, and caused by the high net debt position of 346.1 mill. EUR, a result
of the acquisition of PEGUFORM GROUP, the executive board will propose to the
AGM 2008 to suspend dividend payout for 2008.

Q4 2008 Q4 2007 Change   FY 2008 FY 2007 Change
Sales POLYTEC GROUP             486,6   197,2   146,8%  1.081,8   665,0  62,7%
   Automotive Systems           408,2   102,4   298,7%    718,4   369,3  94,5%
   Automotive Composites         54,9    72,3   -24,1%    264,7   201,3  31,5%
   Car Styling                   18,2    17,6     3,1%     77,9    74,7   4,2%
Others/Consolidation              5,3     4,8    10,3%     20,8    19,6   6,3%
EBITDA                           24,9    21,4    16,7%     71,6    63,7  12,3%
EBITDA margin                     5,1%   10,8%              6,6%    9,6%    
EBITA                             3,6    14,9   -75,7%     29,7    41,1 -27,7%
EBIT                             -2,6    14,9  -117,8%     23,4    41,0 -43,0%
EBIT margin                      -0,5%    7,5%              2,2%    6,2%    
EBT                             -13,3    13,8  -196,5%     10,4    38,7 -73,2%

The short-term financing of the purchase price of PEGUFORM GROUP, acquired in
2008, was predominantly provided by short term loans in the amount of roughly
170 mill EUR, but also by use of available cash. After the closing of the
acquisition, POLYTEC GROUP entered into negotiations with all involved banks to
restructure the overall financing base in consideration of matching maturities
of financed assets on the one hand, but also to secure further funds to ensure
liquidity for necessary actions due to the crisis. Also the possible availment
of public aid funds is examined in several countries.

The management counteracted the dramatic reductions in the automotive- and
commercial vehicle industry amongst others by necessary first capacity
adjustments by reduction of 2,600 employees since September 2008. In addition to
this action, on most of the plants, short-time work has been realised in its
country specific implementation. As a consequence of the overall market
estimation - significant reduced volumes compared to previous years not only in
the short-term - a further reduction in headcount seems to be necessary and will
be realised in accordance to market development. Furthermore, to optimise the
future geographic presence of POLYTEC GROUP after the acquisition, the closing
of production sites is in evaluation. In December 2008 the first plant was
closed in Slovakia.

All figures for the financial year 2008 in this press release are preliminary.
The final financial report will be published after approval of the financial
statement.

POSTPONEMENT OF FINANCIAL REPORT 2008

The announced date of April 22, 2009 for the publication of the financial report
2008 has to be postponed to May 29, 2009. Caused by the adjustment, the
publication dates for the first quarter 2009 as well as the AGM were adapted.

Adapted financial calendar 2009:

Financial report 2008           May 29, 2009
Interim report 2009             May 29, 2009
AGM 2008                        June 25, 2009
Half year financial report 2009 August 5, 2009
Interim report 2009             November 4, 2009

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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