Polytec Holding AG (0GOX) Q4 2024 Earnings Call

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WEBVTT 00:00:00.723 -- 00:00:03.506 Good morning, ladies and gentlemen. 00:00:03.506 -- 00:00:06.667 Rather gentlemen, to be honest. 00:00:07.150 -- 00:00:11.955 Thank you for joining us for today's Investor and Analyst Conference call on Polytech 00:00:11.955 -- 00:00:14.798 Full Year Results 2024. 00:00:14.798 -- 00:00:21.584 With me is our CFO, Markus Mühlberg, who will take over after my introduction. 00:00:22.567 -- 00:00:28.432 2024 was a further year of navigating change and numerous headwinds. 00:00:28.432 -- 00:00:33.679 Ultimately, we turned the negative trend in result, significantly improved 00:00:33.679 -- 00:00:39.046 net debt, and remain with an optimistic expectation to proceed this trend 00:00:39.046 -- 00:00:41.646 in the running year. 00:00:42.630 -- 00:00:45.194 The market remained challenging. 00:00:45.194 -- 00:00:50.781 Vehicle production in Europe remains at a persistently low level at around 15 00:00:50.781 -- 00:00:56.045 to 16 million vehicles per year, well below the peak of just under 00:00:56.045 -- 00:01:01.331 21 million in 2027, and even 7% 00:01:01.331 -- 00:01:05.354 below 2023, this resulting 00:01:06.137 -- 00:01:12.082 in overcapacity and corresponding market pressure on the entire industry. 00:01:12.405 -- 00:01:17.432 Despite the difficult conditions, we succeeded in increasing total revenue and 00:01:17.432 -- 00:01:23.950 bridging the operating results back into positive territory after a year of losses, 00:01:23.950 -- 00:01:27.553 EBIT improved over €10 million. 00:01:28.638 -- 00:01:35.330 This is an important step in the right direction, still at a negative net result. 00:01:35.330 -- 00:01:40.379 Therefore, it's important, or more important than ever, to adopt our structures to 00:01:40.379 -- 00:01:45.905 the permanentl...