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POLYTEC GROUP - Results for 3. quarter 2015

Group sales of POLYTEC GROUP increased by 30.5% to EUR 465.5 million in the first nine months of 2015. This includes the earnings contribution of approx. EUR 82.3 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 26.6 million or 7.5% 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 34.3% to EUR 313.1 million compared to the same period in the previous year. Sales in the commercial vehicle market segment increased by 27.2% to EUR 111.0 million in the months January to September 2015 compared to the same period in the previous year. Revenues from non-automotive market segment increased by 14.4% to EUR 41.4 million compared to the same period in 2014.

Group EBIT was almost doubled in the first nine months of 2015 to EUR 26.7 million (Q1-Q3 2014: EUR 13.5 million). In addition to the earnings contribution by the sites in the Netherlands, the acquisition of the property portfolio of approximately EUR 4.7 million, previously held by Huemer Holding GmbH, had a positive impact on operating profits.

The EBIT margin amounted to 5.7% in the first nine months of 2015 (Q1-Q3 2014: 3.8%). As a result of a fall in prices, the material cost ratio fell by 1.9 percentage points to 47.9%. The financial result amounted to EUR -3.1 million (Q1-Q3 2014: EUR -0.8 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 18.0 million (Q1-Q3 2014: EUR 10.0 million). The earnings per share amounted to EUR 0.80 (Q1-Q3 2014: EUR 0.43).

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 significantly more than EUR 30 million to be expected.

Link to Interim Report Q3 as of 30. September 2015

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