The listed Upper Austrian automotive supplier Polytec increased its sales by 19.2 percent to EUR 339.6 million in the first half of the year compared to the same period of the previous year. However, the operating result collapsed from EUR 1.4 million to EUR 281,000 and the result after taxes turned negative from EUR 126,000 to EUR 3.7 million.
For the year as a whole, at least the after-tax result should be positive again, according to the half-yearly financial report. The reason given was delivery delays for urgently needed new production facilities. Selective system bottlenecks and a high density of new project start-ups led to additional shifts and an increased number of employees.
“It is assumed that the additional costs due to additional shifts, increased staff numbers and other special expenses will also affect the Group’s earnings in the third quarter of the current financial year. An improvement in the influences described above is expected from the fourth quarter of 2023,” writes the company.
Uncertainties lie in the high level of interest rates and the persistently high level of inflation. In the medium and long term, however, one is “strategically very well positioned to be able to convert the change in the automotive sector into increasing economic success”.
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