Polytec crisis continues

Automotive supplier makes a loss of 14 million euros

The Polytec Group - here CEO Markus Huemer - continues to face many challenges.(Bild: Krone KREATIV/Harald Dostal, Polytec)

The Polytec Group is not emerging from the crisis. After the plastics processor operating from Hörsching (Upper Austria) posted a loss after tax of EUR 2.2 million in 2021, the automotive supplier's loss last year was even higher: EUR 14.1 million.

"Unsatisfactory" - this is how Polytec summarized the 2023 financial year in a press release. Although the plastics processor's turnover climbed to 636 million euros, almost 35 million euros higher than in 2022, the result was worse. The loss after taxes ultimately amounted to 14.1 million euros.

In terms of prices, we are currently seeing declines in materials and energy, but prices for equipment remain high.

Markus Huemer, Vorstandschef Polytec Group

Additional costs due to extra shifts and increased headcount
Why is the increase in turnover not reflected in the result? The company, managed by Markus Huemer, explains that although measures to improve operational efficiency are having a positive effect, additional costs due to extra shifts and an increased headcount are also having an impact.

There was also a short-term reduction in call-off volumes in the third quarter. "The market has become more difficult to predict in terms of its medium and long-term development," says Peter Bernscher, Deputy CEO at Polytec.

Despite all the challenges, the outlook for the future is positive: The automotive supplier expects sales to increase, mainly due to the ramp-up of new products. High incoming orders from recent years are also encouraging.