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News
07.11.2012
Results for the first nine months 2012

In the period under review, group sales totaled EUR 362.6 million, remaining almost stable at the previous year's level of EUR 367.3 million adjusted for the effects of the divestment of the Interior-Systems business.
The European passenger car industry continued to show a solid de-velopment in all POLYTEC GROUP's relevant markets. Group sales in the passenger car segment totaled EUR 68.2 million in Q3 2012, increasing slightly by 2.7%. In the first nine months of 2012, group sales in this segment dropped by 41.9% to EUR 213.9 million, due to the sales contribution of the divested Interior-Systems business in the previous year. The passenger car segment was once again impacted by call-off figures of some major customers in the Genuine Accessories business area (former Car Styling Division), which were below expectations. Injection-molding activities continued to show a solid development in the period under review.
Group sales in the commercial vehicle segment continued to show a negative development. In addition to the lack of follow-up orders due to a change of technology, as reported in previous periods, this negative development is also attributable to the general weak eco-nomic environment.
In the first nine months of 2012, group sales in the non-automotive segment reported a growth, which was mainly attributable to a sales contribution of roughly EUR 18 million from the business site POLYTEC Plastics Ebensee (former PPI). This business site was included for the first time in the consolidated financial statements of the POLYTEC GROUP as of September 1, 2011.
In the first nine months of 2012, group EBIT declined by 28.1% to EUR 21.3 million compared to the previous year's level adjusted for the effects of the divestment of the Interior-Systems business.
The significant improvement of the financial result in the period under review is principally attributable to the changed balance sheet and financial structure of the POYTEC GROUP following the divestment of the Interior-Systems business at the end of the first half of 2011. Since then, the Group has reported net financial assets instead of net financial liabilities and is therefore in a position to reinvest its cash and cash equivalents. As of September 30, 2012 total net financial assets amounted to EUR 10.5 million.
All in all, the POLYTEC GROUP achieved a net profit after income tax of EUR 17.2 million in the first nine months of 2012. This corresponds to earnings per share of EUR 0.75.

OUTLOOK
 
Provided that general framework conditions do not deteriorate fur-ther, the Management of POLYTEC Holding expects group sales and earnings for the second half of 2012 to match the level of the first half-year. However, against the backdrop of an increasingly volatile market environment, the achievement of such targets is considered to be quite ambitious.

 
 
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