In the third quarter 2016 Hexagon Composites generated NOK 266.2 (256.9) million in operating income and made an operating profit before depreciation (EBITDA) of NOK 4.6 (-31.0) million. Operating profit (EBIT) was NOK -12.4 (-43.8) million and profit/loss before tax came to NOK -18.4 (-56.0) million.
Operating results in the third quarter were impacted positively by a 52% growth in revenues within the Low-Pressure segment versus the same period last year. However weak sales volumes of Mobile Pipeline ® hamper overall profitability for the Group. The realized cost initiatives executed towards the end of 2015 have a positive year-over-year impact on results.
After balance sheet date
For more information:
Jon Erik Engeset, CEO, Hexagon Composites ASA
Telephone: +47 916 30 550 | email@example.com
David Bandele, CFO, Hexagon Composites ASA
Telephone: +47 920 91 483 | firstname.lastname@example.org
Solveig D Saether, Communication Manager, Hexagon Composites ASA
Telephone: +47 906 34 977 | email@example.com
About Hexagon Composites ASA
Hexagon Composites ASA is a publicly listed company with its headquarters in Aalesund, Norway. The Group is a leading global supplier of composite pressure cylinders and systems for storage and transportation of various gases.