Plastics processor
High interest rates on loans: Polytec remains in the red
Turnover in the second half of 2023 fell short of expectations, but a turnaround now seems to have begun. Polytec was pleased to report a turnover of 172.3 million euros in the first quarter of 2024. However, the plastics processor has not yet been able to leave the loss zone.
At the end of April, Polytec presented its figures for 2023, which showed a loss after tax of 14.1 million euros. And what does the start to the new financial year look like? The plastics processor from Hörsching (Upper Austria) reports a "very clear turnaround into positive territory" when looking at the operating result before interest and taxes.
However, the financial result (minus 2.6 million euros) and earnings after tax (minus 1.4 million euros) are still negative. The high interest rates for loans and liabilities are leaving their mark here. Interest rate cuts, as promised by the European Central Bank, should bring relief in the coming months.
Measures taken to increase efficiency
The management's outlook for the future is absolutely positive, even if uncertainties make forecasting difficult, as the company emphasizes. Measures to increase operational efficiency, which have been implemented in two plants in particular, are already showing improvements.
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