EANS-Adhoc: Polytec Holding AG / Results for the first nine months 2011

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9-month report

10.11.2011

- Group Sales decreased by 4,2 % to EUR 527.3 mill.
- EBITDA of EUR 51.3 mill. / +69,7 %
- EBIT Marge of 5.6 % (adjusted)
- Euqity ratio of 41.7 %
- Nett Cash Position of EUR 10.5 mill.
- Outlook 2011 raised
- Management proposal for a dividend payment for 2011

in EUR mill Q3 2011 Q3 2010 CHANGE IN % 1-9 2011 1-9 2010
CHANGE IN %
Sales 121.9 184.4 -33.9% 527.3 550.2
-4.2%
EBITDA 11.3 13.6 -17.3% 51.3 30.2
69.7%
EBIT 7.8 6.8 14.7% 36.8 9.8
276.6%
Net income 5.9 9.9 -40.3% 31.8 8.7

EBITDA margin (adjusted) 9.2% 7.4% 8.4% 5.5%
EBIT margin (adjusted) 6.4% 3.7% 5.6% 1.8%

Earnings per share 0.26 0.43 -41.3% 1.40 0.36
285.1%

In the first nine months 2011, group sales decreased by 4.2% to EUR
527.3 million mainly due to the divestment of the Interior business
and of POLYTEC COMPOSITES Italia. Adjusted for these effects, group
sales from continuing operations increased by roughly 10% in the
period under review. In the period under review, the POLYTEC GROUP
recorded an extremely positive development of both sales and
production volumes in the passenger car and commercial vehicle
segments. This growth was supported by a 5% production increase
registered by the European OEMs in the first nine months 2011.

In the first nine months 2011, EBIT amounted to EUR 36.8 million at
the group level. Adjusted for the deconsolidation gain as a result of
the divestment of the Interior business, adjusted EBIT and adjusted
EBIT margin amounted to EUR 29.6 million and to 5.6% respectively in
the period under review.

In addition to the optimization of financing terms over the short and
long term, the considerable decline in financing costs by almost 50%
to EUR 2.7 million in the period under review is mainly attributable
to interest yields realized from the assessment of funds totaling
approximately EUR 30 million as well as to interest yields resulting
from interest-bearing account receivables from Toyota Boshoku, which
are shown in the balance sheet.

All in all, the POLYTEC GROUP recorded a net income (after minority
interests) of EUR 31.2 million in the first nine months 2011. This
corresponds to earnings per share of EUR 1.40.

OUTLOOK

In the third quarter of 2011, the sales guidance for the full-year
2011 was revised upwards to reflect the favorable business
performance of the POLYTEC GROUP in the period under review as well
as the solid order situation expected for the fourth quarter of 2011.
Thus, for the full year 2011 group sales are expected to amount to
approximately EUR 650 million up from EUR 620 million as previously
anticipated. This improved sales guidance includes the favourable
effects from the divestment of the Interior business and of POLYTEC
COMPOSITES Italia as well as the expected positive sales
contributions from PPI Plastic Products Innovation, which was
acquired on August 31, 2011. All other figures presented in the
outlook for the full-year 2011 at the end of the first half of 2011
remained unchanged. Furthermore, the EBIT margin for the full-year
2011, adjusted for the one-off effects mentioned above, is
anticipated to reach the same level as in the first nine months of
2011.

Based on this outlook, the Board of Directors will resume dividend
payments for the 2011 financial year after a three-year interruption,
as announced at the last AGM of the POLYTEC GROUP as of May 19, 2011.

*** The full interim report ist available for download on
www.polytec-group.com

***
POLYTEC GROUP NEWSLETTER REGISTRATION >>>
http://www.polytec-group.com/en/Newsletter

Further inquiry note:
Manuel TAVERNE
POLYTEC GROUP
Investor Relations
Tel.+43(0)7221/701-292
manuel.taverne@polytec-group.com

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: investor.relations@polytec-group.com
WWW: www.polytec-group.com
sector: Industrial Components
ISIN: AT0000A00XX9
indexes: ATX Prime
stockmarkets: official market: Wien
language: English