POLYTEC HOLDING AG: Positive results in 1. quarter 2022

Hörsching (pta006/06.05.2022/07:33 UTC+2)

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Despite massive additional costs, POLYTEC GROUP recorded positive results in the first quarter of 2022 financial year. POLYTEC is highly flexible and adapts promptly to the constantly changing economic environment. This enables the management to counteract the turbulent developments on the row materials and energy markets as well as other economic upheavals in close coordination with the group's customers and suppliers.

In the first quarter of 2022, the POLYTEC GROUP's consolidated sales revenues amounted to EUR 148.8 million and were therefore at the level of the previous year (Q1 2021: EUR 147.8 million). The marginal increase of 0.7% emanated mainly from higher sales revenues in the Smart Plastic & Industrial Applications market area.

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Key figures Q1 2022

* Group sales revenues amounted to EUR 148.8 million (Q1 2021: EUR 147.8 million)

* EBITDA amounted to EUR 11.0 million (Q1 2021: EUR 13.8 million)

* EBITDA margin 7.4% (Q1 2021: 9.3%)

* EBIT totalled EUR 2.9 million (Q1 2021: EUR 6.7 million)

* EBIT margin 1.9% (Q1 2021: 4.5%)

* Earnings after tax reached EUR 1.7 million (Q1 2021: EUR 4.8 million)

* Earnings per share EUR 0.07 (Q1 2021: EUR 0.21)

* Equity ratio reached 44.5% (31.12.2021: 42.0%)

* Net debt amounted to EUR 105.7 million (31.12.2021: EUR 79.6 million)

* Employees (FTE incl. leasing personnel) as at 31.03.2022: 3,450 (31.03.2021: 3,706)

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In the first three months of 2022, POLYTEC GROUP EBITDA totalled EUR 11.0 million (Q1 2021: EUR 13.8 million) and as compared to the same period of the previous year, the EBITDA margin fell by 1.9 percentage points from 9.3% to 7.4%. Group EBIT in the months from January to March 2022 totalled EUR 2.9 million (Q1 2021: EUR 6.7 million). As opposed to the same period of 2021, the EBIT margin was 2.6 percentage points lower, coming from 4.5% to 1.9%.

The financial result for the first three months of 2022 amounted to minus EUR 0.6 million and was thus at the level of the previous year (Q1 2021: minus EUR 0.7 million). The POLYTEC GROUP tax ratio in the period from January to March 2022 stood at 26.0% (Q1 2021: 20.5%). The group earnings after tax for the first quarter of 2022 totalled EUR 1.7 million (Q1 2021: EUR 4.8 million), which corresponded with earnings per share of EUR 0.07 (Q1 2021: EUR 0.21).

The Board of Directors of POLYTEC Holding AG will propose to the 22nd Ordinary Annual General Meeting (to be held on 1 July 2022) the distribution of a dividend of EUR 0.10 per eligible share for the 2021 financial year.

As compared to 31 December 2021, on 31 March 2022, the group's balance sheet total was EUR 29.7 million lower at EUR 538.8 million. This decline was due mostly to the repayment of a promissory note loan amounting to EUR 21.0 million. At 44.5%, the equity ratio on 31 March 2022 was 2.5 percentage points higher than on the reporting date of 31 December 2021.

By comparison with the 31 December 2021 reporting date, net financial debt increased by EUR 26.1 million to EUR 105.7 million. This upturn was largely the result of a sizeable jump in net working capital.

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Outlook 2022 financial year

In the course of the publication on 22 April 2022 of the Annual Financial Report for the 2021 financial year, the POLYTEC GROUP management suspended its forecast for the 2022 financial year. Owing to the brevity of the interim period and the fact that at the moment the future development of the economic environment for the group cannot be assessed in a qualified manner, the management has opted to retain the outlook in unchanged form.

Furthermore, the main elements of uncertainty are the ongoing economic upheavals caused by the corona pandemic, the shortage of raw materials and other materials, in particular semiconductors, disruptions of the international supply chains and the effects of the war in Ukraine. All of these factors may have an impact on the revenue and earnings development of the POLYTEC GROUP in the 2022 financial year.

The POLYTEC GROUP's management responds flexibly and promptly to the continuous changes in the business environment and coordinates closely with the group's customers and suppliers in order to overcome the current challenges together.

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The Q1 interim report of POLYTEC Holding AG as at 31 March 2022 closing date is available for downloading on the Investor Relations, publications section of the Group's website.

https://www.polytec-group.com/en/investor-relations/publications

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Emitter:	POLYTEC HOLDING AG Polytec-Straße 1 4063 Hörsching Austria
Contact Person:	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)