Polytec Achieves Turnaround

IndustrialsAutomotive ♦ Published: April 7, 2011; 06:54 ♦ (Vindobona)

The Austrian component supplier could improve its results substantially. Net profits are in the black again.

Polytec Achieves Turnaround / Picture: © Vindobona.org

Based on the worldwide recovery of the automotive industry in the year under review, Polytec´s group sales recorded a significant increase of 26.9% or € 163.1m to € 770.1m. However, developments in the most relevant sales markets of the group varied. Group results outstripped the increase in sales, with group EBITDA more than quintupling to € 54.3m per year-end 2010 and the…