Hexagon Composites ASA: Results for first quarter 2015
(Thomson Reuters ONE) -
In the first quarter 2015 Hexagon Composites generated NOK 401.6 (410.5) million
in operating income and made an operating profit before depreciation (EBITDA) of
NOK 52.9 (85.1) million. Operating profit (EBIT) was NOK 39.5 (67.1) million and
profit before tax came to NOK 53.3 (57.5) million.
Operating results declined in the first quarter, versus first quarter 2014,
impacted by lower sales volumes for Mobile Pipeline(TM) solutions and Low-
Pressure Cylinders, together with higher costs related to the strengthening of
engineering, innovation and administration resources. Results were also impacted
by weak demand for light-duty vehicles. These effects were partly offset by
strong sales volumes in the heavy-duty truck and transit bus markets in North
America which reached record levels during the quarter, despite continued low
oil prices. Lower depreciation and finance related costs had a positive impact
of results for the quarter.
Key developments:
* Profitable quarter for the Group but relatively weaker margins
* Record delivery performance for Heavy-duty operations
* Somewhat soft Mobile Pipeline(TM )(Gas Distribution Products) sales due to
order postponements
* Reasonable capacity utilization in the Low-Pressure Cylinders segment, but
down from first quarter 2014
* Positive overall impacts of USD currency developments.
For more information:
Jon Erik Engeset, CEO, Hexagon Composites ASA
Telephone: +47 916 30 550 | jon.erik.engeset(at)hexagon.no
David Bandele, CFO, Hexagon Composites ASA
Telephone: +47 920 91 483 | david.bandele(at)hexagon.no
Solveig D Saether, Communication Manager, Hexagon Composites ASA
Telephone: +47 906 34 977 | solveig.saether(at)hexagon.no
This information is subject to the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.
HEX Q1 2015 report:
http://hugin.info/132600/R/1919571/687335.pdf
HEX Q1 2015 presentation:
http://hugin.info/132600/R/1919571/687336.pdf
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originality of the information contained therein.
Source: Hexagon Composites ASA via GlobeNewswire
[HUG#1919571]
Unternehmensinformation / Kurzprofil:
Datum: 07.05.2015 - 08:30 Uhr
Sprache: Deutsch
News-ID 391664
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