Half Year 2019 Polytec Holding AG Earnings Call Transcript
Good afternoon, ladies and gentlemen, and Welcome to POLYTEC results call on H1 2019.
In the first half of the current business year, consolidated sales of POLYTEC GROUP declined by 2.5% to stand at EUR 320.6 million. This was due to a decline of the passenger car segment, which is the main segment of 10.6%. How was this founded, we first had a discontinuation of engine concepts by a number of our main premium clients in the wake of the new exhaust, standard WLTP.
Second, we saw the diesel car-related sales of our group declined by around 70%. This is a strong decline in the wake of the lower numbers, which were created already last year. And third, we also had low car production volumes due to the sluggish economy. These 3 factors, mainly led to the 10.6% decrease at the passenger car area.
However, the commercial vehicles improved by 7.9%, very nicely and also non-auto market, market area improved on rather low numbers, to be honest, of the previous year by 23.2%, very strong increase.
If we go forward to the
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