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Hexagon Composites ASA : Results for Q4 2011

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Hexagon Composites ASA's sales for the 4th quarter of 2011 amounted to NOK 231.8 (235.0) million, while EBITDA was NOK 11.9 (23.7) million. Operating profit (EBIT) amounted to NOK -7.3 (2.1) million. Profit before tax for the quarter was NOK -4.6 (-5.6) million.

The results for fourth quarter are reduced compared to same period last year, however an improvement compared to previous quarter.

Significant events in the Group since the previous interim report:

  • The Group has also decided to bolster its LPG and CNG cylinder operations in Norway by separating the product area CNG passenger cars from Ragasco AS and merging it with Raufoss Fuel Systems AS. 

  • Devold AMT has decided to move the remaining production of composite reinforcements in Langevåg in Norway to the company's factory in Lithuania.  

The Group's sales for 2011 amounted to NOK 991.8 (846.0) million. Operating profit before depreciation (EBITDA) was NOK 108.1 (111.2) million. Operating profit (EBIT) amounted to NOK 35.4 (36.2) million. Profit before tax was NOK 28.4 (27.3) million.

For more information:
Erik Espeset, Group President, Hexagon Composites ASA
Telephone: +47 90 52 00 33 | E-mail: erik.espeset@hexagon.no

Tor O. Husø, CFO, Økonomidirektør, Hexagon Composites ASA
Telephone: +47 95 81 97 74 | E-mail: tor.huso@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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