31.03.2019, 2129 Zeichen

Polytec: Polytec Group, leading developer and manufacturer of high-quality plastic parts, reported results for 2018. Sales revenues fell by 5.9% to stand at Euro 636.4 mn (previous year: Euro 676.4 mn). The consequences of the transition to the new WLTP exhaust gas and fuel consumption standard, which since September 2018 has been mandatory, worsened during the second half of the year. As a result, important Polytec customers cut their vehicle production which led to the aforementioned reductions in call-offs and sales revenue losses. Moreover, the decline in consumer demand prompted weak diesel car product call-offs throughout the whole of 2018. In the 2018 financial year, Polytec EBITDA amounted to Euro 67.1 mn (previous year: Euro 82.3 mn). As compared to the preceding year, the EBITDA margin fell by 1.7 percentage points from 12.2% to 10.5%. Group EBIT in 2018 totalled Euro 40.1 mn and therefore failed to emulate the operating result of EUR 55.1 million achieved in the previous year. In comparison with 2017, the EBIT margin fell by 1.8 percentage points from 8.1% to 6.3%. In terms of a yearly comparison, group net profit declined by Euro 9.1 mn, to stand at Euro 29.1 mn (previous year: Euro 38.2 mn). The Board of Directors and the Supervisory Board will propose the distribution of a dividend of Euro 0.40 (previous year: EUR 0.45) per eligible share to the 19th Ordinary Annual General Meeting to be held on 10 May 2019. From a current perspective, the Polytec Group executive management anticipates that in the 2019 financial year, group sales revenues and EBIT will emulate the level of the previous year. The fulfilment of this outlook will depend largely upon successful negotiations concerning outstanding claims against customers, which have been and will continue to be caused largely by the sales losses relating to the WLTP and higher material prices. In addition, the effects of a possible Brexit also constitute a significant factor in connection with outlook realisation.
Polytec: weekly performance: -1.97%

(From the 21st Austria weekly https://www.boerse-social.com/21staustria (29/03/2019)

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