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Hexagon Composites ASA : Non-recurring items impact Q4 profits

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Aalesund, January 31st 2014 - In January 2014, Hexagon Composites were presented with certain warranty claims pertaining to deliveries in 2012 and early 2013. Following preliminary investigations, we have decided to increase our warranty provisions by NOK 10 million in Q4 2013 for possible replacement costs. Additionally, we have seen a need to make inventory adjustments of NOK 11 million following our year-end inventory processes. 

These non-recurring items will have a negative effect on the Q4 result. The sales volumes and underlying profit margins remain satisfactory in the quarter. The Q4 result will be published on February 13th.

For more information:
Jon Erik Engeset, CEO, Hexagon Composites ASA
Telephone: +47 916 30 550 | jon.erik.engeset@hexagon.no

David Bandele, CFO, Hexagon Composites ASA
Telephone: +47 920 91 483 | david.bandele@hexagon.no

Solveig D Saether, Communication Manager, Hexagon Composites ASA
Telephone: +47 906 34 977 | E-mail: solveig.saether@hexagon.no

  

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

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