Earning Report

INTERIM REPORT Q3 2021

FORCING

THE PACE

KEY FIGURES

Key figures Q1-Q3	Unit	Q1-Q3 2021	Q1-Q3 2020	Change
Sales	EUR m	415.8	379.4	9.6%
EBITDA	EUR m	28.3	20.6	37.2%
EBITDA margin (EBITDA/sales)	%	6.8%	5.4%	1.4% pt.
EBIT	EUR m	7.0	-6.2	N/A
EBIT margin (EBIT/sales)	%	1.7%	-1.6%	3.3%pt.
Earnings after tax	EUR m	3.6	-10.4	N/A
Earnings per share	EUR	0.15	-0.50	N/A
Investments in tangible assets	EUR m	23.4	12.4	88.0%
Equity ratio (equity/balance steet total)	%	45.6%	40.5%	5.1% pt.
Net working capital (NWC)	EUR m	127.4	127.9	-0.4%
Average capital employed	EUR m	393.8	428.8	-8.2%
Net debt (+)/assets (-)	EUR m	145.8	157.1	-7.2%
Employees (incl. leasing personnel) end of period	FTE	3,442	3,851	-10.6%

Key figures quarterly	Unit	Q3 2020	Q4 2020	Q1 2021	Q2 2021	Q3 2021
Sales	EUR m	137.1	142.5	147.8	143.9	124.1
EBITDA	EUR m	9.9	27.7	13.8	10.4	4.0
EBITDA margin (EBITDA/sales)	%	7.2%	19.4%	9.3%	7.3%	3.3%
EBIT	EUR m	0.9	19.1	6.7	3.4	-3.2
EBIT margin (EBIT/sales)	%	0.6%	13.4%	4.5%	2.4%	-2.5%
Earnings after tax	EUR m	-1.5	19.8	4.8	2.1	-3.2
Earnings per share	EUR	-0.08	0.79	0.21	0.09	-0.15
Investments in tangible assets	EUR m	5.9	1.8	6.0	5.6	11,8
Equity ratio	%	40.5%	42.6%	43.6%	44.2%	45.6%
(equity/balance steet total)
Net working capital (NWC)	EUR m	127.9	92.8	110.1	117.1	127.4
Capital employed	EUR m	421.5	373.8	393.1	399.9	413.9
Net debt (+)/assets (-)	EUR m	157.1	105.8	116.8	121.2	145.8
Employees (incl. leasing	FTE	3,851	3,636	3,706	3,708	3,442
personnel) end of period

2	INTERIM REPORT Q3 2021

GROUP SALES BY CUSTOMERS

26.7%													■ Q1-Q3
	23.7%									Group sales January to September 2021
										showing POLYTEC's largest
												customers, values in %
												10.7%
		8.4%
						6.2%	6.4%
								4.9%
			3.3%						3.2%				2.2%
				1.7%						1.1%
				0.7%					0.8%
VW CAR GROUP	MERCEDES BENZ CARS & VANS	JAGUAR LAND ROVER	GEELY GROUP	FORD	STELLANTIS	OTHER CAR	TRATON	VOLVO TRUCKS & BUSES	JOHN DEERE	DAIMLER TRUCKS & BUSES	OTHER TRUCK, BUS & AGRICULTURAL	IFCO	SMART PLASTICS CUSTOMERS

SALES & EBIT MARGIN

	142.5	147.8	143.9
137.1
				124.1
	13.4%
		4.5%
			2.4%
0.6%
				-2.5%
Q3 2020	Q4 2020	Q1 2021	Q2 2021	Q3 2021

• SALES (in EUR m)
  EBIT margin

Comparision of the group sales and EBIT margin

in Q3 2021 with the last four quarters

INTERIM REPORT Q3 2021

3

FINANCIAL REPORT

Q3 2021

This interim report has not been subject to an audit or a review.
KEY FIGURES	02
Group sales by customers	03
Sales & ebit margin	03
GROUP MANAGEMENT REPORT	05
Automotive industry development	05
Group results	06
Assets and financial status	08
Employees	09
Risks and uncertainties	09
Material transactions with related parties and companies	10
Material events after the reporting period	11
Outlook 2021 financial year	11
INTERIM CONSOLIDATED FINANCIAL STATEMENT
ACCORDING TO IAS 34	12
Consolidated income statement	12
Consolidated balance sheet	13
Consolidated cash flow statement	14
Consolidated statement of changes In equity	15
Consolidated statement of comprehensive income	15
Selected notes	16
SHARE AND INVESTOR RELATIONS	17
POLYTEC share price development	17
Share key figures	17
Dividend policy	18
Research coverage	18
Corporate calendar 2022	18

4	INTERIM REPORT Q3 2021

GROUP MANAGEMENT REPORT Q3 2021

AUTOMOTIVE INDUSTRY DEVELOPMENT

The tables below show the numbers of new vehicle registrations during the period from January to September 2021 as compared to the figures from the previous year.

REGISTRATIONS OF NEW CARS IN THE MAJOR INTERNATIONAL MARKETS

in units	Q1-Q3 2021	Share	Q1-Q3 2020	Share	Change
China	14,587,100	41.2%	13,125,000	41.0%	11.1%
USA	11,665,200	32.9%	10,309,200	32.2%	13.2%
Europe (EU, EFTA and UK)	9,161,900	25.9%	8,567,900	26.8%	6.9%
Total three major markets	35,414,200	100%	32,002,100	100%	10.7%
Other selected countries
Japan	2,873,400		2,817,900		2.0%
India	2,236,400		1,503,400		48.8%
Brazil	1,471,300		1,301,700		13.0%
Russia	1,260,100		1,094,800		15.1%

REGISTRATIONS OF NEW CARS IN EUROPE (EU, EFTA AND UK)

in units	Q1-Q3 2021	Share	Q1-Q3 2020	Share	Change
Germany	2,017,600	22.0%	2,041,800	23.8%	-1.2%
United Kingdom	1,316,600	14.4%	1,243,700	14.5%	5.9%
France	1,260,400	13.8%	1,166,700	13.6%	8.0%
Italy	1,165,500	12.7%	966,300	11.3%	20.6%
Spain	647,900	7.1%	595,400	7.0%	8.8%
Other European countries	2,753,900	30.0%	2,553,900	29.8%	7.8%
EUROPE (EU, EFTA and UK)	9,161,900	100%	8,567,800	100%	6.9%

REGISTRATIONS OF NEW CARS IN EUROPE (EU, EFTA AND UK) - BY DRIVE TECHNOLOGY

in units	Q1-Q3 2021	Share	Q1-Q3 2020	Share	Change
Petrol-driven cars	3,817,100	41.6%	4,370,300	51.0%	-12.7%
Diesel-driven cars	1,693,200	18.5%	2,305,000	26.9%	-26.5%
Battery electric vehicles (BEV)	801,000	8.7%	418,500	4.9%	91.4%
Plug-in hybrid electric vehicles (PHEV)	777,700	8.5%	351,600	4.1%	121.2%
Hybrid electric vehicles (HEV)	1,871,000	20.4%	981,400	11.4%	90.6%
Natural gas vehicles (NGV)	36,200	0.4%	42,200	0.5%	-14.2%
Other alternatively-powered vehicles (APV)	170,800	1.9%	99,600	1.2%	71.5%
EUROPE (EU, EFTA and UK)	9,167,000	100%	8,568,600	100%	7.0%

INTERIM REPORT Q3 2021

5