First quarter of 2013 – Another strong quarter – our best earnings to date
- Sales amounted to 2,014 MSEK (2,142).
- Operating profit rose 10 per cent to 298 MSEK (272).
- Operating margin improved to 14.8 per cent (12.7).
- Profit after tax rose 19 per cent to 216 MSEK (181).
- Earnings per share increased 19 per cent to 6.28 SEK (5.26).
- Operating cash flow amounted to 240 MSEK (240).
- The US rubber compounding company Robbins, which was acquired in November 2012, has been successfully integrated.
President’s comments
“The first quarter of 2013 was once again a strong quarter for the HEXPOL Group. In terms of earnings, it was our best quarter to date. Our earnings per share improved strongly to 6.28 SEK (5.26), up 19 per cent. The operating margin improved further to 14.8 per cent (12.7) and our operating profit rose 10 per cent to 298 MSEK (272). Sales were negatively impacted by a weak European market, negative currency effects and fewer workdays. Sales during the first quarter of 2013 were although significantly stronger than during the fourth quarter of 2012. During the first quarter of 2013, we noted once again a price reduction for our principal raw materials. Operating cash flow remained strong and amounted to 240 MSEK (240). During the quarter, the US rubber compounding company Robbins was successfully integrated with significantly better earnings development than plan. Our balance sheet is strong and, with a net debt/equity multiple of 0.3 (0.5), we are well equipped for continued expansion.”
Georg Brunstam, President and CEO
For more information, please contact:
Georg Brunstam, President and CEO
Tel: +46 708 55 12 51
Karin Gunnarsson, Chief Financial Officer/Investor Relations Manager
Tel: +46 705 55 47 32
HEXPOL is a world-leading polymers group with strong global positions in advanced rubber compounds (Compounding), gaskets for plate heat exchangers (Gasket), and plastic and rubber materials for truck and castor wheel applications (Wheels). Customers are primarily OEM manufacturers of plate heat exchangers and trucks, systems suppliers to the global automotive and engineering industries, the energy sector and medical equipment manufacturers. The Group is organised in two business areas, HEXPOL Compounding and HEXPOL Engineered Products. The HEXPOL Group’s sales in 2012 amounted to 8,007 MSEK. The HEXPOL Group has approximately 3,400 employees in ten countries. Further information is available at www.hexpol.com.
This report may contain forward-looking statements. When used in this report, words such as “anticipate”, “believe”, “estimate”, “expect”, “intend”, “plan” and “project” are intended to identify forward-looking statements. They may involve risks and uncertainties, including product demand, market acceptance, the effect of economic conditions, the impact of competitive products and pricing, foreign currency exchange rates and other risks. These forward-looking statements reflect the views of HEXPOL’s management as of the date made with respect to future events and are subject to risks and uncertainties. All of these forward-looking statements are based on estimates and assumptions made by HEXPOL’s management and are believed to be reasonable, though are inherently uncertain and difficult to predict. Actual results or experience could differ materially from the forward-looking statements. HEXPOL disclaims any intention or obligation to update these forward-looking statements.
The report consists of information that HEXPOL AB (publ) is obliged to disclose in accordance with the Swedish Securities Market Act and/or the Financial Trading Instruments Act. The information was submitted for publication on 2 May 2013 at 12:00 p.m. CET.
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