Interim report Q1 2011 Hexagon Composites

Hexagon Composites ASA had a first quarter turnover of MNOK 280.5 (141.3) and a operating profit before depreciation (EBITDA) on MNOK 42.9 (1.8).
Operating profit (EBIT) was MNOK 23.0 (-11.1). Profit before tax ended on 19.1 MNOK (-7.0) in first quarter 2011.

Key events in the group since the last interim report:

• Account receivables related to a major delivery from Ragasco received
• Lincoln Composites with strategic breakthrough with TITAN(TM) in Asia
• Ragasco secured important contract with large European car manufacturer for delivery of composite containers
• Positive development for Devold AMT

  
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