Polytec : Earning Report

HALF YEAR FINANCIAL REPORT H1 2022

PROGRESSING

RESPONSIBLY

KEY FIGURES

Key figures H1	Unit	H1 2022	H1 2021	Change
Sales revenues	EUR m	285.0	291.7	-2.3%
EBITDA	EUR m	17.7	24.2	-27.2%
EBITDA margin (EBITDA/sales revenues)	%	6.2%	8.3%	-2.1% pts.
EBIT	EUR m	1.4	10.1	-86.4%
EBIT margin (EBIT/sales revenues)	%	0.5%	3.5%	-3.0% pts.
Earnings after tax	EUR m	0.1	6.8	-98.2%
Earnings per share	EUR	0.00	0.30	N/A
Investments in fixed assets	EUR m	11.0	11.6	-5.2%
Equity ratio (equity/balance sheet total)	%	44.0%	43.0%	1.0% pts.
Net working capital (NWC)	EUR m	101.9	74.5	36.8%
Average capital employed	EUR m	356.6	333.0	7.1%
Net debt (+)/assets (-)	EUR m	114.4	78.6	45.6%
Employees (incl. leasing personnel) end of period	FTE	3,457	3,708	-6.8%

Key figures quarterly	Unit	Q2 2021	Q3 2021	Q4 2021	Q1 2022	Q2 2022
Sales revenues	EUR m	143.9	124.1	140.1	148.8	136.1
EBITDA	EUR m	10.4	4.0	16.6	11.0	6.7
EBITDA margin	%	7.3%	3.3%	11.8%	7.4%	4.9%
(EBITDA/sales revenues)
EBIT	EUR m	3.4	-3.2	5.3	2.9	-1.5
EBIT margin	%	2.4%	-2.5%	3.8%	1.9%	-1.1%
(EBIT/sales revenues)
Earnings after tax	EUR m	2.1	-3.2	3.5	1.7	-1.5
Earnings per share	EUR	0.09	-0.15	0.17	0.07	-0.07
Investments in fixed assets	EUR m	5.6	11.8	12.6	5.7	5.3
Equity ratio (equity/balance	%	43.0%	44.3%	42.0%	44.5%	44.0%
sheet total)
Net working capital (NWC)	EUR m	74.5	83.5	65.4	94.6	101.9
Average capital employed	EUR m	333.0	339.3	330.7	354.4	356.6
Net debt (+)/assets (-)	EUR m	78.6	101.9	79.6	105.7	114.4
Employees (incl. leasing	FTE	3,708	3,442	3,420	3,450	3,457
personnel) end of period

2HALF YEAR FINANCIAL REPORT H1 2022

GROUP SALES REVENUES BY CUSTOMERS

27.4%	28.2%													■ H1 2022
													Group sales revenues
												January to June 2022
											showing POLYTEC's largest
													customers, values in %
		8.4%
													7.0%
						5.3%	5.9%	5.3%
									3.6%					2.7%
			2.3%
			1.3%
				0.9%					0.9%	0.6%
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 REVENUES & EBIT MARGIN

143.9		140.1	148.8
		136.1
	124.1
		3.8%
2.4%			1.9%
				-1.1%
	-2,5%
Q2 2021	Q3 2021	Q4 2021	Q1 2022	Q2 2022

• SALES REVENUES (in EUR m)
  EBIT margin

Comparision of the group sales revenues and EBIT margin in Q2 2022 with the last four quarters

HALF YEAR FINANCIAL REPORT H1 2022

3

HALF YEAR

FINANCIAL REPORT H1 2022

This interim report has not been subject to an audit or a review.
KEY FIGURES	02
Group Sales Revenues by Customers	03
Sales Revenues & Ebit Margin	03
GROUP MANAGEMENT REPORT H1 2022	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	10
Outlook 2022 Financial Year	10
INTERIM CONSOLIDATED FINANCIAL STATEMENT
ACCORDING TO IAS 34	11
Consolidated Income Statement	11
Consolidated Balance Sheet	12
Consolidated Cash Flow Statement	13
Consolidated Statement of Changes in Equity	14
Consolidated Statement of Comprehensive Income	14
Selected Notes	15
SHARE AND INVESTOR RELATIONS	16
POLYTEC Share Price Development	16
Share Key Figures	16
Dividend Policy	17
Research Coverage	17
Shareholder Structure	17
STATEMENT OF ALL LEGAL REPRESENTATIVES	18

4	HALF YEAR FINANCIAL REPORT H1 2022

GROUP MANAGEMENT REPORT H1 2022

AUTOMOTIVE INDUSTRY DEVELOPMENT

The following tables show the figures for new vehicle registrations in the period from January to June 2022, as compared to the same period of the previous year:

REGISTRATIONS OF NEW CARS IN THE MAJOR INTERNATIONAL MARKETS

in units	H1 2022	Share	H1 2021	Share	Change
China	10,202,500	45.2%	9,838,900	40.0%	3.7%
USA	6,767,500	30.0%	8,283,000	33.7%	-18.3%
European Union (EU, EFTA and UK)	5,597,700	24.8%	6,485,900	26.3%	-13.7%
Total three major markets	22,567,700	100%	24,607,800	100%	-8.3%
Other selected countries
India	1,831,100		1,579,900		15.9%
Japan	1,712,900		2,043,400		-16.2%
Brazil	853,100		1,007,900		-15.4%
Russia	370,200		870,700		-57.5%

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

in units	H1 2022	Share	H1 2021	Share	Change
Germany	1,238,000	22.1%	1,390,900	21.4%	-11.0%
United Kingdom	802,100	14.3%	910,000	14.0%	-11.9%
France	772,000	13.8%	922,800	14.2%	-16.3%
Italy	684,200	12.2%	885,100	13.7%	-22.7%
Spain	407,800	7.3%	456,800	7.0%	-10.7%
Other European countries	1,693,600	30.3%	1,920,300	29.7%	-11.8%
EUROPE (EU, EFTA and UK)	5,597,700	100%	6,485,900	100%	-13.7%

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

in units	H1 2022	Share	H1 2021	Share	Change
Petrol-driven cars	2,144,500	38.3%	2,753,400	42.4%	-22.1%
Diesel-driven cars	866,100	15.5%	1,275,600	19.7%	-32.1%
Battery electric vehicles (BEV)	647,500	11.6%	491,900	7.6%	31.6%
Plug-in hybrid electric vehicles (PHEV)	472,700	8.4%	537,400	8.3%	-12.0%
Hybrid electric vehicles (HEV)	1,323,700	23.6%	1,295,600	20.0%	2.2%
Natural gas vehicles (NGV)	11,300	0.2%	27,800	0.4%	-59.3%
Other alternatively-powered vehicles (APV)	132,600	2.4%	105,500	1.6%	25.7%
EUROPE (EU, EFTA and UK)	5,598,400	100%	6,487,200	100%	-13.7%

HALF YEAR FINANCIAL REPORT H1 2022

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