POLYTEC : 2016 Financial Year

• Group sales rose by 3.8% to EUR 650.4 million
• EBITDA increased by 34.5% to EUR 80.1 million, EBITDA margin 12.3%
• EBIT went up 43.3% to EUR 52.4 million, EBIT margin 8.1%
• Earnings per share improved by 52.8% to EUR 1.65Equity ratio was 4.3 percentage points up at 37.9%
• Net debt reduced by EUR 29.2 million to EUR 69.9 million

POLYTEC GROUP achieved the best operating result in its more than 30-year history and raised its EBITDA by more than EUR 20 million to EUR 80.1 million (2015: EUR 59.7 million). The EBITDA margin rose from 9.5% to 12.3% and thus entered the double-digit range. EBIT was improved by 43.3% to EUR 52.4 million. As compared to the preceding year, the EBIT margin was up by 2.3 percentage points at 8.1%. Group-wide optimization and the intensive digitization of production sequences, as well as the development in sales in the small series car production, all had a positive effect on operative results.
At minus EUR 4.3 million, the financial result remained at the level of the preceding year. Group net profit improved by EUR 12.6 million as compared to the preceding year to stand at EUR 36.3 million (2015: EUR 23.7 million). This corresponds with earnings per share of EUR 1.65 (2015: EUR 1.08). The Board of Directors and the Supervisory Board will propose the distribution of a dividend of EUR 0.40 (2015: EUR 0,30) per eligible share to the 17th Annual General Meeting to be held on 22 May 2017.
In the 2016 financial year, POLYTEC GROUP sales increased by 3.8% over the preceding year to stand at EUR 650.4 million (2015: 625.5 million). As compared to the previous year, sales in the passenger car market area, which with 65.0% forms the strongest sales area within the POLYTEC GROUP, rose slightly by around 1.3% to EUR 425.4 million (2015: EUR 420.1 million). Sales in the commercial vehicle market area (23.0%) were down on those of 2015, dipping by around 0.5% from EUR 148.1 million to EUR 147.4 million.
The non-automotive market area continued to demonstrate clearly positive development with a notable 33.1% increase in sales over the preceding year from EUR 58.3 million to EUR 77.6 million, a sum that already represented a contribution of 12.0% to POLYTEC's total consolidated sales. The main reason for this growth were the sales derived from the production of transport boxes at the Ebensee (Austria) plant, where since the middle of 2016 all fourteen new production lines have been in full operation.
The group's balance sheet total in 2016 was EUR 16.3 million higher at EUR 501.4 million. On 31 December 2016, the equity ratio was 4.3 percentage points up on that of the 2015 balance sheet date at 37.9%. As opposed to the 31 December 2015 balance sheet date, owing to high cash flow, net debt was EUR 29.2 million lower at EUR 69.9 million. In the 2016 financial year, the cash flow from operating activities increased by EUR 19.4 million to stand at EUR 70.7 million. Cash and cash equivalents rose by EUR 21.9 million to EUR 79.5 million.
Outlook
Based on the assumption of a stable economic situation and positive business development among all its major customers, the POLYTEC GROUP executive management foresees slight growth in both group sales and operating results in the 2017 financial year.
Links: Annual Report 2016 Annual Financial Report 2016

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