Hexagon Composites ASA: Results for the third quarter 2015
(Thomson Reuters ONE) -
In the third quarter 2015 Hexagon Composites generated NOK 256.9 (349.3) million
in operating income and made an operating loss before depreciation (EBITDA) of
NOK -31.0 (75.1) million. Operating loss (EBIT) was NOK -43.8 (55.5) million and
profit/loss before tax came to NOK -56.0 (59.7) million.
Operating results declined compared with the third quarter of 2014, impacted by
significantly lower sales volumes for Mobile Pipeline(TM) solutions and
seasonally low sales volumes of Low-Pressure Cylinders. The heavy-duty truck
market in North America remains robust and the transit bus markets in North
America and Europe continue to display healthy growth.
Key developments:
* EBITDA loss for the quarter driven by low Mobile Pipeline(TM) and impact of
seasonal Low-Pressure Cylinders sales
* Awarded extended MAN Truck & Bus supplier nomination for global transit bus
market
* Released 16-inch all-carbon cylinder for transit bus and refuse truck market
* Secured new long-term Low-Pressure Cylinders distribution agreement with
Gasco in Saudi Arabia
* Restructuring of European Light-Duty Vehicles business unit according to
plan
* Initiated a further program of cost saving initiatives to enhance weak
short-term profitability
* Continued positive overall impacts of USD currency developments compared to
same period last year.
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
www.hexagon.no/investors
About Hexagon Composites ASA
Hexagon Composites ASA is a leading global supplier of composite pressure
cylinders for gas applications. Based in Ålesund, Norway, the Group generated
NOK 1 651 million in operating income in 2014. Production is carried out in
modern, automated plants in Norway and the US.
This information is subject to the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.
HEX Q3 2015 Report:
http://hugin.info/132600/R/1962273/715657.pdf
HEX Q3 2015 Presentation:
http://hugin.info/132600/R/1962273/715658.pdf
This announcement is distributed by GlobeNewswire on behalf of
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(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Hexagon Composites ASA via GlobeNewswire
[HUG#1962273]
Unternehmensinformation / Kurzprofil:
Datum: 29.10.2015 - 08:30 Uhr
Sprache: Deutsch
News-ID 430369
Anzahl Zeichen: 3193
contact information:
Town:
Ã…lesund
Kategorie:
Business News
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