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POLYTEC GROUP - Results for 1. quarter 2015

Group sales of POLYTEC GROUP increased by 32.1% to EUR 155.8 million in the first quarter of 2015. This includes the earnings contribution of approx. EUR 29.2 million by the two Dutch plants in Roosendaal and Putte acquired at the end of November 2014. Excluding this acquisitive effect, an organic sales growth of EUR 8.6 million or 7.3% was generated. This was driven in particular by the sharp rise in sales of passenger cars in small series sector.

In the POLYTEC GROUP market segment with the highest sales, i.e. passenger cars, sales rose by 40.1% to EUR 107.2 million compared to the same quarter in the previous year. Sales in the commercial vehicle market segment increased by 16.8% to EUR 34.0 million in the first quarter of 2015 compared to the same period in the previous year. Revenues from non-automotive market segment increased by 18.7% to EUR 14.6 million compared to the same quarter in 2014.

Group EBIT more than doubled in the first three months of 2015 to EUR 8.8 million. In addition to the earnings contribution by the sites in the Netherlands, the improved profitability of individual business divisions contributed to the increase in operating profits. In addition, the acquisition of the property portfolio of approximately EUR 1.5 million, previously held by Huemer Holding GmbH, had a positive impact on operating profits.


The EBIT margin amounted to 5.6% in the first quarter of 2015 (Q1 2014: 3.6%). Both the material and personnel cost ratio improved compared to the values from the previous year. The financial result amounted to EUR -0.9 million (Q1 2014: EUR -0.3 million). The change is primarily due to the interest expense from the promissory note bond issued at end of September 2014. The tax rate of the POLYTEC GROUP for the first quarter of 2015 amounted to 25.3%. For the whole of 2014, the tax rate of the Group amounted to 24.9%. The Group generated a net profit of EUR 5.9 million. (Q1 2014: EUR 3.2 million). The earnings per share amounted to EUR 0.26 (Q1 2014: EUR 0.13).


Assuming a stable business cycle, the management of the POLYTEC GROUP forecasts consolidated sales of more than EUR 600 million for the complete fiscal year 2015. As the substantial sales growth underlying these expectations is backed by the full-year consolidation of the acquired two Dutch plants and the noticeable organic growth based on the launch of series production for new products. The earnings figures should improve significantly, despite the restructuring costs in the Composite business unit.

Link to interim report first quarter 2015

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