EANS-Adhoc: Polytec Holding AG discloses the results for the full year 2009 as well as the results for the first quarter 2009 - massive strain caused by economic environment- active countermeasures

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24.06.2009

FULL YEAR 2008
The 62.6% growth in sales was due to the first-time consolidation of the
Peguform Group acquired in the year under review. Of the total increase in sales
of EUR 416.5 million (+62.6%), EUR 327.4 million (+49.2%) are attributable to
new acquisitions and EUR 122.1 million (+18.4%) are due to the full-year effect
of the acquisitions made in 2007. Excluding these acquisition effects, total
sales in 2008 showed an organic decline of EUR 33.0 million (- 5.0%). Due to the
unfavourable development of the automotive business, the earnings situation of
the group could not keep up with the growth in sales. While EBITDA registered a
small increase of 2.0%, EBIT fell by 59.2% also due to extraordinary
amortizations.

FIRST QUARTER 2009
Declining production volumes of almost all OEMs which have an impact on POLYTEC
GROUP´s results, led to a considerable drop in sales by 31.4% to EUR 139.9
million. PEGUFORM GROUP´s sales figures were not included due to the planned
divestment of this business segment. This substantial decrease in sales resulted
in a decline in EBITDA to EUR 6.6 million despite the adoption of
counter-measures, which 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.
Despite these measures, which were initiated to counteract the effects of the
economic recession, it was impossible for the company to prevent a negative
EBITDA. Earnings before interest and taxes (EBIT) amounted to EUR -3.8 million
in Q1 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 Q1 09 net result with a total value of EUR -39.5 million. Net result during
the reporting period also encompasses the retirement of fixed assets from the
current business for a total amount of EUR -14.5 million as well as the
impairment of PEGUFORM GROUP´s fixed assets for the anticipated disposal loss of
EUR

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