POLYTEC HOLDING AG informs about the total repayment of the
restructuring loan of EUR 31 million (see ad hoc release from July 9,
2009). The shares assigned as collateral (3,572.734 shares, this equals
16 % of the share capital of POLYTEC HOLDING AG) thus will be
retransferred to the founder and CEO, Friedrich Huemer, respectively to
Huemer Holding GmbH. After the retransfer of shares to the CEO Friedrich
Huemer, he again holds more than 30% of the votings rights via
attributable companies. A takeover bid according to the Austrian
Takeover Act was not caused.
The repayment of the restructuring loan within short time is, besides the recovery of the automotive industry, also attributable to the forceful implementation of operational as well as customer directed activities of the group.
The continuous recovery of the industry and the total of all internal actions resulted in an earnings development above internal planning of the group for 2010.
On the basis of unaudited preliminary earnings figures, group sales increased by 27% to EUR 770 million. Preliminary EBITDA amounts to at least EUR 50 million. This equals an EBITDA margin of at least 6.5 %. On a net basis, earnings per share of little under EUR 1 are expected. By analysing the net figure it has to be considered, that the financial result includes a positive on off effect of about EUR 6 million from the disposal of the Grammer stake.
Through the repayment of bank liabilities and the positive earnings situation, net financial debt decreased from EUR 70 million as of December 31, 2009 to EUR 28.4 million by the end of 2010 (Q3 2009: EUR 93,5 million EUR).
„The repayment of the restructuring loan, the fact of a steady recovery of the automotive industry and the clear turn around of the group gives the management the flexibility, for making the necessary strategic decisions in future”, says Friedrich Huemer (CEO).
POLYTEC HOLDING AG will join the Austrian Investor Conference 2011 of UniCredit in Kitzbühel (Austria). The management is available for meetings on Monday, January 24, 2011.
The audited figures fort the business year 2010 will be published on April 6, 2011. Minor deviations to the figures published in this release are possible.