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POLYTEC GROUP - The 2015 Financial Year

In the 2015 financial year, POLYTEC GROUP sales revenues increased by approximately 27.5% over the preceding year to stand at EUR 626.5 million (2014: 491.3 million). This figure includes a contribution totalling EUR 110.4 million (2014: EUR 8.5 million) from the plants at Roosendaal and Putte in the Netherlands, which were purchased at the end of November 2014 and were now consolidated for the full year. If this acquisitional effect is excluded from the sales revenues, organic growth of EUR 33.3 million or 6.9% results. In particular, this growth derived from markedly higher sales in the small series car segment.

As compared to the previous year sales revenues in the passenger car business area, which with 67.1% forms the strongest market segment within the POLYTEC GROUP, rose by 33.1% to EUR 420.1 million. Sales in the commercial vehicle segment (23.6%) were clearly up on those of 2014, rising by 20.3% to EUR 148.1 million. Sales revenues in the non-automotive market segment (9.3%) were 11.0% higher than in 2014 at EUR 58.3 million.

POLYTEC GROUP EBITDA reported for the 2015 financial year totalled EUR 59.7 million and was thus well above the level of the previous year (EUR 36.5 million). The EBITDA margin increased by 2.1 percentage points to 9.5%. In the 2015 financial year, Group EBIT went up by EUR 15.9 million, or 77.2%, to EUR 36.6 million. As compared to the preceding year, the EBIT margin improved by 1.6 percentage points to 5.8%. Apart from the contribution to the result derived from the full-year inclusion of the locations in the Netherlands, the purchase of the real estate portfolio owned previously by Huemer Holding GmbH had a positive impact on the results. In addition, developments in the small series car production area had a positive effect on the operating result.

In the 2015 financial year, the financial result amounted to minus EUR 4.3 million following minus EUR 1.8 million in the preceding year. The change of around EUR 2.5 million thus reported was due largely to the interest expense derived from the taking up of a EUR 100 million promissory note loan on September 30, 2014. Group net profit improved by EUR 10.1 million as compared to the preceding year to stand at EUR 23.7 million (2014: EUR 13.6 million). This corresponds with earnings per share of EUR 1.08 (2014: EUR 0.62).

In 2015 the Group’s balance sheet total was EUR 61.1 million higher at EUR 485.1 million. The primary reason for this rise can be traced to the increase in tangible assets of around EUR 116.3 million. The bulk of this figure (EUR 87.3 million) is related to the purchase of the real estate portfolio held previously by Huemer Holding GmbH. On the balance sheet date, the equity ratio was 0.4 percentage points lower at 33.6% and was thus roughly at the level of the previous year.

The Board of Directors and the Supervisory Board will propose the distribution of a dividend of EUR 0.30 per eligible share to the 15th Annual General Meeting to be held on May 19, 2016.

Group result outlook
Based on the assumption of a stable economic situation and positive business development among all its major customers, the POLYTEC GROUP executive management foresees growth in both Group sales and results.

The annual financial report and the annual report of POLYTEC HOLDING AG as of December 31, 2015 are available on the corporate website subside Publications.

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