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News
07.08.2013
POLYTEC GROUP - RESULTS FOR THE FIRST HALF 2013

Due to the weak sales development of several relevant customers of the Group in the first quarter 2013, POLYTEC GROUP’s total sales declined by 4.1% to EUR 232.9 million in the first half 2013 compared to the same period of the previous year.

In the second quarter 2013, however, the positive development of the automotive industry – in both the passenger car and commercial vehicle segments – led to an increase in sales by 2.1% to EUR 122.0 million compared to the second quarter 2012. Compared to the first quarter 2013, total sales rose by 10.0% thanks to a significant increase in tooling sales.

The adjusted EBIT of the Group dropped by EUR 4.0 million to EUR 9.8 million in the first half 2013. This corresponds to an EBIT margin of 4.2%. Higher than planned ramp up costs in connection with several injection molding projects and related material and personnel cost overruns as well as the decline in sales in the non-automotive business had a negative impact on the group results for the first half 2013.

All in all, the POLYTEC GROUP reported a net result of EUR 7.6 million in the period under review, which corresponds to earnings per share of EUR 0.33 compared to EUR 0.53 in the previous year.


OUTLOOK 2013

 

With regard to the further course of business in 2013, the Management of POLYTEC Holding expects a stable development. Sales and earnings in the second half of 2013 are expected to match the level of the first half-year.

The lower expectation is a result of the sales decline within the Non-Automotive business and its impact on earnings as well as higher than planned ramp up costs in connection with several injection molding projects.

 
 
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