POLYTEC HOLDING AG: Results 1st quarter 2018

Hörsching (pta014/09.05.2018/08:00 UTC+2) .
+ Group sales fell by 4.9% to EUR 169.5 million
+ EBITDA margin (12.4%) and EBIT margin (8.6%) at level of preceding year
+ Group earnings after tax reached EUR 10.6 million, Q1 2017: EUR 11.6 million
+ Corresponded with earnings per share EUR 0.47, Q1 2017: EUR 0.52
+ Equity ratio was 1.4 percentage points up at 43.5%, as compared to 31.12.2017
+ Net debt rose by EUR 3.8 million to EUR 82.5 million, on the figure for 31.12.2017 reporting date

In the first quarter of 2018, consolidated POLYTEC GROUP sales declined by 4.9% from the very good level of the preceding year to stand at EUR 169.5 million. This resulted from the reduction in call-ups for diesel car products, lower tooling and other engineering sales, as well as a lower sales in the non-automotive market area.

As compared to the same period of the previous year, sales in the passenger car market area, which with 64.8% (Q1 2017: 65.9%) represents the strongest sales area within the POLYTEC GROUP, fell by around 6.6% to EUR 109.8 million. This was mainly due to the very high level of the preceding year and the decline in call-ups for diesel car products. Sales in the commercial vehicle market area (26.0%, Q1 2017: 24.1%) were higher than in the comparative months from January to March 2017, increasing by 2.6% to EUR 44.0 million. The share of consolidated POLYTEC GROUP sales from the non-automotive market area were down from 10.0% in the first quarter of 2017 at 9.2%.

In the first quarter of 2018, POLYTEC GROUP EBITDA amounted to EUR 21.1 million (Q1 2017: EUR 22.8 million). At 12.4%, the EBITDA margin (EBITDA/sales) remained at the level of 2017 (Q1 2017: 12.8%). In the months from January to March 2018, Group EBIT stood at EUR 14.6 million (Q1 2017: EUR 15.9 million), while at 8.6% the EBIT margin (EBIT/sales) stayed at the high level of the preceding year (Q1 2017: 8.9%).

As a result of lower financial income, the financial result fell to minus EUR 1.0 million (Q1 2017: minus EUR 0.8 million). Due to a reduced tax ratio, the group earnings after tax totalled EUR 10.6 million (Q1 2017: EUR 11.6 million), which corresponded with earnings per share of EUR 0.47 (Q1 2017: EUR 0.52).

As compared to 31 December 2017, at the end of the first quarter of 2018 group's balance sheet total was EUR 11.9 million higher at EUR 528.4 million. The equity ratio as at 31 March 2018 was 1.4% percentage points up on the figure for the 31 December 2017 reporting date at 43.5%. As compared to the 31 December 2017 reporting date, net debt was EUR 3.8 million higher at EUR 82.5 million. At 31 March 2018, cash and cash equivalents totalled a final amount of EUR 51.9 million.

Outlook
Based on economic stability, the POLYTEC GROUP executive management assumes that in 2018 group sales and operating results will again attain the excellent level of last year. Against the background of the decision of the Federal Administrative Court in Germany, in February 2018, regarding possible driving bans on older diesel models, as well as the intervening decline in call-ups for diesel vehicle products, this constitutes an ambitious target.

The interim report of POLYTEC Holding AG for the reporting date 31 March 2018 is available on the company's website section Investor Relations, Publications, Financial Reports.
http://www.polytec-group.com/en/Investor-Relations/Publications/Financial-Reports

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Emitter:	POLYTEC HOLDING AG Polytec-Straße 1 4063 Hörsching Austria
Contact Person:	Mag. Paul Rettenbacher
Phone:	+43 7221 701 292
E-Mail:	paul.rettenbacher@polytec-group.com
Website:	www.polytec-group.com
ISIN(s):	AT0000A00XX9 (Share)
Stock Exchange(s):	Vienna Stock Exchange (Official Trade)