Thank you very much. Hello, everybody. Good morning. Welcome to our Q3 financial report. As in the recent quarters, also Q3 was again challenging, as everybody is aware, the industry is still not settling. Car registrations in Europe are minus 10% compared to 2021. Noticeable for our powertrain business, which represents approximately 20% of our sales, the combustion engine car sales are 20% down compared to last year. The total expected production volume in Europe for the full year of 2022 is expected to be 24% below pre-crisis 2019 level. Still, we see sudden reductions of call-offs from our customers so that even the very near future is not predictable in sales. Volatility causes inefficiencies and production interruptions. We face further increases in material costs and energy prices, which have outrageous economic impact.
However, material prices tend to stabilize now. Selectively, we also see first reductions on specific materials. All these challenges still meet chances. Yes, the major management attention needed to deal with cost increases and volatility to secure our positive EBIT line year to date. We managed that we can largely pass on the increased prices of raw material and energy, which we understand as a confirmation of our market position and a cooperation with our customers. Still, cash hunting is one major issue to get paid what is agreed, running after tooling payments and everything, so cash hunting is still a major issue. In addition, the volume shortfall and the cost for volatility remains our major burden. However, it is expected that we will reach a positive EBIT on the full year, even so Q2 and Q3 were slightly negative.
We are all aware that unforeseeable sudden impact of several external factors can have significant impact on production volumes of cars which we cannot predict at the moment. On the other hand, we see a very promising order pipeline, and we see a confirmation of our proven solution and strategy which have already resulted in major new orders, for example, in electric power storage or electric charging infrastructure. Bottom line, the key figures for Q1 to Q3 from 2021, Group sales amounted to EUR 430 million compared to EUR 415 million. Again, the remark, the sales volume itself is not representative for the volume as there is a mid-two -digit million EUR value arising out of material price push forwards.
Totally, the EBITDA amounted to EUR 25 million compared to EUR 28 million in the previous year. EBIT to slightly positive EUR 240 thousand compared to EUR 7 million the preceding period. Earnings after tax to -EUR 1.9 million compared to EUR 3.6 million the previous year. Earnings per share -0.09 EUR, and an equity ratio still stable at 43% compared to 42% the previous year. Net debt slightly increased to EUR 92 million, mainly driven by the stock and, as I mentioned,
Working capital.
Working capital in total, yes, compared to EUR 80 million, and we have employed 3,588 employees compared to 3,440. The outlook for 2022, we still expect a positive EBIT for 2022. However, in view of the considerable current uncertainties at present, a well-founded quantitative estimation of the sales and result expectations for 2022 financial year is barely possible. As in the preceding quarters, customers are unable to provide reliable planning volumes. In addition, short-term call-off cancellations continue to result in disproportionate production costs and simultaneous reductions in sales revenues. Therefore, the achievement of a positive operating result is subject to various uncertainties as described in the risk report. Negotiations with customers regarding price increases and compensations, particularly for raw materials and energy, are currently in progress. However, to date, these discussions have only been partially concluded.
As previously, the POLYTEC Group management continues to react flexibly and promptly to the ongoing changes in the economic environment and is liaising closely with the group's customers and suppliers in order to jointly overcome the present challenges. This was, as usual, in very brief, the overview of the Q3 results. Thanks for listening.