Polytec Holding AG

M&A Activity • Oct 22, 2008

keywords: Mergers - Acquisitions - Takeovers/Company Information/POLYTEC

euro adhoc: Polytec Holding AG / Mergers - Acquisitions - Takeovers / POLYTEC HOLDING AG announces the successful closing of the acquisition of PEGUFORM GROUP.

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22.10.2008

POLYTEC GROUP acquires 100% of the shares of PEGUFORM GROUP from Cerberus Capital Management L.P. for a purchase price of 218.5 mill. EUR. The purchase price comprises of a payment for 100% of the shares and the assumption of shareholder loans from Cerberus.

For POLYTEC GROUP, the acquisition of PEGUFORM GROUP is not only a major step forward to a global positioning of the group, but also the significance to important customers increased and the market position with respects to core products improved. As a result of the acquisition, POLYTEC GROUP advances to the TOP 100 suppliers of the automotive industry worldwide (approx. position 60) with combined annual sales of 2.2 bn EUR. As of October 1, 2008 the results of PEGUFORM GROUP will be first-time consolidated and to that effect contribute to POLYTEC GROUP results 2008 with 3 months.

EARNINGS DEVELOPMENT OF PEGUFORM GROUP

In 2007 PEGUFORM GROUP achieved sales of 1.4 bn EUR and an EBITDA of 122.4 mill. EUR. In the first half 2008 PEGUFORM GROUP achieved sales of 784.1 mill. EUR and an EBITDA of 51.4 mill. EUR.

PROFORMA CONSOLIDATED FIGURES AS OF JUNE 30, 2008

~
H1 2008	POYLTEC		PEGUFORM COMBINED GROUP*
Sales EBITDA EBITDA Margin	412.9 36.7 8.9%	784.1 51.4 6.6%	1,197.0 88.1 7.4%
as of June 30, 2008 Equity Net financial debt Balance sheet total	POYLTEC 168.6 24.6 446.5	279.1 126.7 768.2	PEGUFORM COMBINED GROUP* 174.0 369.9 1,102.0
Equity ratio Gearing ~	38% 15%	36% 73%	16% 213%

* Combined figures according to IFRS / proforma and unaudited - Balance sheet figures as of June 30, 2008 include a purchase price of 218,5 mill. EUR. A detailed Purchase Price Allocation (PPA) is in progress and not displayed in the chart.

OUTLOOK 2008

The outlook, given in the course of the half year financial results of POLYTEC GROUP, is, despite a difficult market environment, still valid. It is the companies target to achieve Group sales of 800 mill EUR and an EBITDA margin of 8% for the business year 2008.

As a result of the first-time consolidation of PEGUFORM GROUP as of October 1, 2008 the sales guidance for the current business year has to be increased significantly. PEGUFORM GROUP will contribute to sales with approx. 300 mill.

EUR and therefore sales of POLYTEC GROUP will be at least 1.1 bn EUR by the end of the business year. The acquisition of PEGUFORM GROUP will also have a positive contribution, both as a result of its operating performance and also because of the implications of an acquisition below book value of equity, to net income and furthermore to Earnings Per Share (EPS).

Further inquiry note: Manuel TAVERNE POLYTEC GROUP Investor Relations Tel.+43(0)7221/701-292 manuel.taverne@polytec-group.com

emitter:	Polytec Holding AG
	Linzer Straße 50
	A-4063 Hörsching
phone:	+43 (0) 7221 / 701-0
FAX:	+43 (0) 7221 / 701-0
mail:	investor.relations@polytec-group.com
WWW:	www.polytec-group.com
sector:	Industrial Components
ISIN:	AT0000A00XX9
indexes:
stockmarkets:
language:	English

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