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News
08.05.2017
POLYTEC GROUP - Results 1st quarter 2017
  • Group sales rose by 13.3% to EUR 178.3 million
  • EBITDA increased by 47.8% to EUR 22.8 million, EBITDA margin 12.8%
  • EBIT went up 69.9% to EUR 15.9 million, EBIT margin 8.9%
  • Earnings per share doubled from EUR 0.26 to EUR 0.52

 

In the first three months of 2017, the consolidated sales of the POLYTEC GROUP rose sharply by 13.3% to EUR 178.3 million (Q1 2016: EUR 157.4 million). Both the sales from serial production and tooling and engineering were markedly higher as compared to the initial quarter of 2016.

 

The optimisation and intensified digitisation of production sequences across the group, as well as the development of small series production for cars, all had a positive impact upon earnings. In the first quarter of 2017, group EBITDA amounted to EUR 22.8 million, which represented growth of 47.8% and was well above the level of the comparable period of the previous year (EUR 15.4 million). The EBITDA margin rose from 9.8% to 12.8% and thus entered the double-digit range. POLYTEC GROUP EBIT was raised by 69.9% to EUR 15.9 million (Q1 2016: EUR 9.4 million) in the first three months of 2017 and the EBIT margin improved by 2.9 percentage points to 8.9% (Q1 2016: 6.0%).

 

In the first three months of 2017, the group generated a net profit of EUR 11.6 million, which was EUR 5.7 million, or 97.2%, higher than the comparable figure for 2016. Earnings per share doubled from EUR 0.26 to EUR 0.52.

As compared to the same period of the previous year, sales in the passenger car market area, which with 65.9% of sales represents the strongest market area within the POLYTEC GROUP, were markedly higher, rising by 13.5% to EUR 117.5 million (Q1 2016: EUR 103.5 million). Sales in the commercial vehicles market area (24.1%) were also far higher than in the same period of 2016, increasing by 17.5% to EUR 42.9 million. Sales in the non-automotive market area (10.0%) rose by 2.9% to EUR 17.9 million and were therefore slightly higher than in the extremely successful comparable period from January to March 2016.

 

As compared to the 31 December 2016 balance sheet date, by the end of the first quarter of 2017, the group’s balance sheet total had risen by EUR 23.4 million to EUR 524.8 million. At 38.4%, the equity ratio as at 31 March 2017 was also slightly higher, having improved by 0.5 percentage points. Net debt totalled EUR 70.6 million and thus remained at the level of the 31 December 2016 balance sheet date. Owing to seasonal factors, as compared to the 31 December 2016 figure, at the end of the first quarter of 2017 net working capital was up by EUR 14.6 million at EUR 54.7 million.

 

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 slight growth in both group sales and operating results in the 2017 financial year.
 
Links:     Interim Report Q1 2017    

 

All other reports of POLYTEC HOLDING AG see  Publications

 
 
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