CORRECTION: Hexagon Composites ASA: Results for the first quarter 2017
(Thomson Reuters ONE) -
This is a correction of the announcement from 07:55 10.05.2017 CEST. Reason for
the correction: Financial attachment added to the release
In the first quarter 2017 Hexagon Composites generated NOK 346.2 (291.6) million
in operating income and made an operating profit before depreciation (EBITDA) of
NOK 35.1 (18.6) million. Operating profit (EBIT) was NOK 16.6 (3.2) million and
profit/loss before tax came to NOK 6.3 (-2.6) million.
The financial statements for the first quarter 2017 include the Group's fifty-
percent share of Agility Fuel Solutions results accounted for under the equity
method. In addition, the fully consolidated financial results of the acquired
xperion Energy & Environment ("xperion") and related group subsidiaries are
included. There are no restatements to previously reported figures as a result
of the transactions which occurred and were first reported in the fourth quarter
2016.
Overall, the quarter's Group results show a marked improvement in profitability
both versus the first quarter 2016 and the previous quarter. Operating results
in the first quarter were impacted positively by a 42% growth in revenues within
the Low-Pressure segment versus the same period last year. Sales volumes of
Mobile Pipeline(®) were solid for a second consecutive quarter, however
generated profit from this business unit was not enough to achieve profitability
overall within the High-Pressure segment.
Key developments
* Record high sales in the Low-Pressure segment
* Strong Mobile Pipeline(®) sales driven by large order deliveries to oil and
gas customer
* Received an order for gas container modules from EGAS in Pakistan with a
total estimated value of EUR 2.6 million (around NOK 21 million)
* Awarded a substantial order for cylinders from Air Products for hydrogen
transportation in Germany
* Finalized the joint venture agreement with Nel ASA and PowerCell Sweden AB
for integrated hydrogen projects initially focused on the maritime and
marine segments.
After balance sheet date
* Entered into long-term agreement with Certarus and received a TITAN® order
worth USD 20.6 million (around NOK 177 million).
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
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.
For more information: www.hexagon.no
This information is subject to the disclosure requirements pursuant to section
5 -12 of the Norwegian Securities Trading Act.
Attachment1:
http://hugin.info/132600/R/2103337/797857.pdf
HEX Q1 2017 report:
http://hugin.info/132600/R/2103337/797855.pdf
HEX Q1 2017 presentation:
http://hugin.info/132600/R/2103337/797856.pdf
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Hexagon Composites ASA via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 10.05.2017 - 09:49 Uhr
Sprache: Deutsch
News-ID 541432
Anzahl Zeichen: 4016
contact information:
Town:
Ã…lesund
Kategorie:
Business News
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"CORRECTION: Hexagon Composites ASA: Results for the first quarter 2017"
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