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21st Austria weekly - Polytec Group, Austrian Post (07/08/2020)

09.08.2020

Polytec Group: In the first half of 2020, the car supplier Polytec Group was subject to the negative economic developments that emanated from the COVID-19 pandemic. As compared to the same period of the preceding year, consolidated sales in the first half of 2020 fell by 24.4% to stand at Euro 242.3 mn (H1 2019: Eueo 320.6 mn). Due in particular to the COVID-19 crisis, a marked decline in sales was evident in all three market areas. EBITDA was reduced to Euro 10.7 mn (H1 2019: Euro 33.2 mn), primarily as a result of COVID-19-related falls in demand. Group EBIT in the months from January to June totalled minus Euro 7.0 n (H1 2019: Euro 16.1 mn), which corresponded with an EBIT margin of minus 2.9% (H1 2019: 5.0%). The group net profit amounted to minus Euro 8.9 mn (H1 2019: EUR 10.4 million), which corresponded with earnings per share of minus EUR 0.42 (H1 2019: Euro 0.46). In view of the gradual improvement in the business trend since June 2020, as far as the course of the second half of the year is concerned, the Polytec Group  management is cautiously optimistic and on the basis of the currently communicated call-offs, anticipates sales revenues of around Euro 520 mn. The operating result is largely dependent upon the effects of further capacity adjustments, the success of important negotiations with customers, developments in the UK and the actual implementation of governmental instruments for the amelioration of the COVID-19 crisis. Consequently, a reliable outlook with regard to results remains impossible, the company stated.
Polytec: weekly performance: 0.20%

Austrian Post: The first half of 2020 presented major challenges for many companies across the globe, including Austrian Post. "Against this backdrop, first half-year 2020 revenue exceeded our expectations and earnings were in line with current expectations", CEO Georg Pölzl says. Austrian Post's Group revenue amounted to Euro 981.9 mn, slightly higher than the prior-year level (+0.1 %). The dynamically growing parcel business showed a significant increase of 30.0 %, compensating for the decline in the Mail and Retail & Bank divisions. Group EBIT in the first half of 2020 totalled EUR 48.2m, down from EUR 107.7m in the first half of 2019. The start-up of bank99 presents a significant special effect in 2020. bank99 has been operating on the market since the beginning of April and will feature a focused offering of financial services. The bank has already succeeded in attracting more than 42,000 customers in the first four months and recorded initial financial services revenue. The objective is to add new products to the financial services offering in the upcoming quarterly periods and generate positive earnings contributions by 2023. Accordingly, the Retail & Bank Division produced a negative earnings contribution of Euro 28.7 mn due to the start-up costs for bank99 and the impact related to COVID-19. Austrian Post will continue to pursue investments and measurements that lead to an extension of capacities and to sustainable efficiency enhancement. Targeted investments and measures should contribute to an earnings improvement in all divisions and will therefore increase the Group earnings in 2021.
Österreichische Post: weekly performance: 1.10%

(From the 21st Austria weekly https://www.boerse-social.com/21staustria (07/08/2020)


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21st Austria weekly - Polytec Group, Austrian Post (07/08/2020)


09.08.2020


Polytec Group: In the first half of 2020, the car supplier Polytec Group was subject to the negative economic developments that emanated from the COVID-19 pandemic. As compared to the same period of the preceding year, consolidated sales in the first half of 2020 fell by 24.4% to stand at Euro 242.3 mn (H1 2019: Eueo 320.6 mn). Due in particular to the COVID-19 crisis, a marked decline in sales was evident in all three market areas. EBITDA was reduced to Euro 10.7 mn (H1 2019: Euro 33.2 mn), primarily as a result of COVID-19-related falls in demand. Group EBIT in the months from January to June totalled minus Euro 7.0 n (H1 2019: Euro 16.1 mn), which corresponded with an EBIT margin of minus 2.9% (H1 2019: 5.0%). The group net profit amounted to minus Euro 8.9 mn (H1 2019: EUR 10.4 million), which corresponded with earnings per share of minus EUR 0.42 (H1 2019: Euro 0.46). In view of the gradual improvement in the business trend since June 2020, as far as the course of the second half of the year is concerned, the Polytec Group  management is cautiously optimistic and on the basis of the currently communicated call-offs, anticipates sales revenues of around Euro 520 mn. The operating result is largely dependent upon the effects of further capacity adjustments, the success of important negotiations with customers, developments in the UK and the actual implementation of governmental instruments for the amelioration of the COVID-19 crisis. Consequently, a reliable outlook with regard to results remains impossible, the company stated.
Polytec: weekly performance: 0.20%

Austrian Post: The first half of 2020 presented major challenges for many companies across the globe, including Austrian Post. "Against this backdrop, first half-year 2020 revenue exceeded our expectations and earnings were in line with current expectations", CEO Georg Pölzl says. Austrian Post's Group revenue amounted to Euro 981.9 mn, slightly higher than the prior-year level (+0.1 %). The dynamically growing parcel business showed a significant increase of 30.0 %, compensating for the decline in the Mail and Retail & Bank divisions. Group EBIT in the first half of 2020 totalled EUR 48.2m, down from EUR 107.7m in the first half of 2019. The start-up of bank99 presents a significant special effect in 2020. bank99 has been operating on the market since the beginning of April and will feature a focused offering of financial services. The bank has already succeeded in attracting more than 42,000 customers in the first four months and recorded initial financial services revenue. The objective is to add new products to the financial services offering in the upcoming quarterly periods and generate positive earnings contributions by 2023. Accordingly, the Retail & Bank Division produced a negative earnings contribution of Euro 28.7 mn due to the start-up costs for bank99 and the impact related to COVID-19. Austrian Post will continue to pursue investments and measurements that lead to an extension of capacities and to sustainable efficiency enhancement. Targeted investments and measures should contribute to an earnings improvement in all divisions and will therefore increase the Group earnings in 2021.
Österreichische Post: weekly performance: 1.10%

(From the 21st Austria weekly https://www.boerse-social.com/21staustria (07/08/2020)




 

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