Hexagon Composites ASA: Results for the third quarter 2017
(Thomson Reuters ONE) -
In the third quarter 2017 Hexagon Composites generated NOK 352.8 (266.2) million
in operating income and made an operating profit before depreciation and
amortization (EBITDA) of NOK 51.2 (4.6) million. Operating profit (EBIT) was NOK
33.8 (-12.4) million and profit before tax came to NOK 21.8 (-18.4) million.
Overall, Group operating profit has markedly improved versus the third quarter
2016, and the previous quarter. Operating results in the third quarter were
impacted positively by a 32% growth in revenues versus the same period last
year. Both the Low-Pressure and High-Pressure segments contributed significantly
to year-over-year growth in profitability, with the latter recording operating
profits in the quarter for the first time in 2017.
The financial statements include the Group's fifty-percent share of Agility Fuel
Solutions ("Agility") results accounted for under the equity method. In
addition, the fully consolidated financial results of the acquired Hexagon
xperion (renamed from xperion Energy & Environment) and related group
subsidiaries are included. There are no restatements to previously reported
figures as a result of these transactions which occurred, and were first
reported, in the fourth quarter 2016. The underlying improvement is stronger
than the reported numbers indicate.
Key developments
* Received and commenced work on a major development award for hydrogen
cylinders for two new fuel cell electric vehicle (FCEV) models
* Hexagon Ragasco received a major LPG order from Iraq with a total value of
approximately NOK 120 million
* Expanded into the hydrogen heavy-duty truck market with deliveries to Toyota
and ASKO
* Launched Hyon AS, a joint venture between Hexagon, Nel ASA and PowerCell
Sweden AB
Key developments after balance sheet date
* Received a new USD 11 million order for TITAN® modules for the North
American industrial sector
* Launched efficient requalification testing program for its Mobile Pipeline®
cylinders minimizing customers' downtime during regulatory requalification.
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 delivers safe and innovative solutions for a cleaner energy
future. We are adapting our leading composite pressure vessel technology for a
wide range of mobility and storage applications. The energy transition towards a
low-carbon society is constantly opening up exciting growth opportunities for
us.
For more information, please visit www.hexagon.no
Follow us on Twitter: (at)HexagonASA
This information is subject to the disclosure requirements pursuant to section
5 -12 of the Norwegian Securities Trading Act.
HEX Q3 2017 presentation:
http://hugin.info/132600/R/2146257/822966.pdf
HEX Q3 2017 report:
http://hugin.info/132600/R/2146257/822951.pdf
HEX Q3 2017 press release:
http://hugin.info/132600/R/2146257/822967.pdf
Attachment1_Q32017:
http://hugin.info/132600/R/2146257/822952.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: 01.11.2017 - 07:50 Uhr
Sprache: Deutsch
News-ID 566073
Anzahl Zeichen: 4145
contact information:
Town:
Ã…lesund
Kategorie:
Business News
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