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POLYTEC GROUP - Results for 1. half year 2015

Sales and all substantial earnings figures increased significantly compared to the first half year of the previous year. Group sales of POLYTEC GROUP increased by 30.6% to EUR 311.3 million in the first half year of 2015. This includes the earnings contribution of approx. EUR 57.7 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 15.1 million or 6.3% 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 36.0% to EUR 212.9 million compared to the same period in the previous year. Sales in the commercial vehicle market segment increased by 21.4% to EUR 71.6 million in the first half year of 2015 compared to the same period in the previous year. Revenues from non-automotive market segment increased by 16.5% to EUR 26.8 million compared to the same half year in 2014.

Group EBIT more than doubled in the first six months of 2015 to EUR 18.2 million (H1 2014: EUR 9.0 million). In addition to the earnings contribution by the sites in the Netherlands, the improved profitability of individual business units contributed to the increase in operating profits. In addition, the acquisition of the property portfolio of approximately EUR 3 million, previously held by Huemer Holding GmbH, had a positive impact on operating profits.

The EBIT margin amounted to 5.8% in the first half year of 2015 (H1 2014: 3.8%). Both the material and personnel cost ratio improved compared to the values from the previous year. The financial result amounted to EUR -1.8 million (H1 2014: EUR -0.5 million). The change is primarily due to the interest expense from the promissory note bond issued at end of September 2014. The Group generated a net profit of EUR 12.1 million. (H1 2014: EUR 6.9 million). The earnings per share amounted to EUR 0.53 (H1 2014: EUR 0.30).

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. EBIT of noticeably more than EUR 30 million to be expected.

Link to half year financial report June 30, 2015

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