Supply chain problems, high raw material and energy costs, reduced volumes, and repeated, extremely short-term cancellations with regard to call-offs – the list of problems confronting the automotive industry is long, and it has not been without impact on one of its suppliers, Polytec (Hörsching, Austria; www.polytec-group.com). Although sales in the first half of 2022 fell “only moderately” by 2.3% compared with the corresponding figure for the previous year, to EUR 285 mn, EBITDA was down by more than a quarter to EUR 17.7 mn, and consolidated net profit more or less evaporated to a mere EUR 0.1 mn (H1 2021: EUR 6.8 mn). Furthermore, net debt rose by more than 40% to EUR 114.4 mn, which the manufacturer of plastic components for the automotive industry attributed, above all, to the much higher net working capital.

Back in April, the management around CEO Markus Huemer had already dispensed with providing a forecast for the year as a whole (see Plasteurope.com of 28.04.2022) and, according to a spokesperson, a forecast for the entire 2022 financial year would still not be issued because of the uncertainties dominating the market at present, especially regarding gas supplies.