Polytec: Sharp Cut in Earnings

Businessn.a. ♦ Published: May 9, 2012; 11:41 ♦ (Vindobona)

Today, the Austrian automotive component supplier published its results for the first quarter 2012. Due to the sale of the interior business, sales and earnings were down considerably.

Polytec: Sharp Cut in Earnings / Picture: © Polytec

Group sales declined by 38.5% to € 123.5m in the first quarter of 2012. On a comparable basis, i.e. adjusted for the effects of the divestment of the Interior-Systems business – group sales increased by 3% year-on-year.

EBITDA for the first quarter 2012 decreased by 19.7% to € 12.2m . The disposal of the Interior-Systems site in Zaragoza – following the closing of the…