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Based on POLYTEC GROUP’s continued operations adjusted for the main part of the divestment of the Interior Systems segment as well as for other effects, total sales of the POLYTEC GROUP increased by 14.7% to EUR 484.2 million in 2011 compared to 2010. Previous year’s sales adjusted for these effects amounted to EUR 422.1 million. This success is mainly attributable to the positive development of the European automotive industry.


The disposal of the Interior Systems business towards the end of the first half of 2011 led to a decline in consolidated Group sales by 14.6% or EUR 112.7 million to EUR 657.4 million.


Group EBITDA increased by 13.0% to EUR 61.3 million despite the decline in consolidated Group sales. This corresponds to an EBITDA margin of 9.3%. The increase in EBITDA includes a deconsolidation gain of EUR 7.2 million resulting from the disposal of the Interior Systems segment.


In addition to the aforementioned deconsolidation gain, this favorable performance was mainly attributable to the positive development of all relevant sales markets as well as to the consistent implementation of optimization measures at the main production plants in the year under review.


EBIT recorded a significant increase to EUR 42.6 million on a year-on-year basis despite the disposal of the Interior Systems segment, which corresponds to an EBIT margin of 6.5%.


Both the positive development of the automotive industry and the strategic measures implemented at the Group level led to a net profit of EUR 35.3 million. This corresponds to earnings per share of EUR 1.54.


The Board of Directors and the Supervisory Board will propose to the Annual General Meeting the payment of a dividend of EUR 0.35 per share for the business year 2011.


The equity ratio of the POLYTEC GROUP showed a positive development totaling 45.6% at year-end 2011 due to the Group’s favorable earnings situation and the positive effects from the deconsolidation of the Interior Systems segment.


As of the balance sheet date on December 31, 2011, the company reported net cash of EUR 17.9 million. In addition to the Group’s favorable business performance in the year under review, this development was mainly attributable to the positive liquidity effects resulting from the disposal of the Interior Systems segment.


Earnings Outlook for the Group


Excluding unpredictable negative effects resulting from an escalation of the European sovereign debt crisis, the potential instability of financial markets and the lack of consumer confidence, the POLYTEC GROUP expects Group sales to amount approximately EUR 500 million for the full year 2012. Based on the Group’s continuing operations adjusted for the effects from the disposal of the Interior Systems segment, operating results are anticipated to match the level of 2011.

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