Image: Polytec Group
Compared to the same period last year, sales rose by 12.7 percent to 485.2 million euros. The result after taxes was minus 8.7 million euros, after a minus of 1.9 million euros in the previous year. In the summer, the company initiated measures to improve operational efficiency. These had a positive effect in some cases, but significant additional costs due to additional shifts, a higher number of staff and other special expenses had a negative impact on the company’s earnings, according to the release.
Earnings before taxes, interest, depreciation and amortization (EBITDA) amounted to EUR 22.3 million in the first nine months of 2023, after EUR 25.0 million in the previous year. The EBITDA margin fell from 5.8 percent to 4.6 percent. The operating result (EBIT) was minus 2.7 million euros, the year before there was a small plus of 0.24 million euros.
Management has slightly lowered its expectations for the year as a whole and is now expecting sales of EUR 630 million. Annual sales of around 650 million euros were expected for the first half of the year. There were short-term reductions in call volumes in the third quarter. This led to lower sales revenue in the past quarter. A positive EBIT for the full year represents “a challenge.”
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