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HEXPOL Interim report January - September 2020

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JULY - SEPTEMBER 2020

  • Sales amounted to 3,328 MSEK (4,244).
  • Operating profit, excl. non-recurring items, increased to 593 MSEK (583).
  • Operating margin, excl. non-recurring items, increased to 17.8 percent (13.7).
  • Profit after tax increased to 426 MSEK (355).
  • Earnings per share increased by 20 percent to 1.24 SEK (1.03). Earnings per share, excl. non-recurring items, decreased by 2 percent to 1.24 SEK (1.27).
  • Operating cash flow amounted to 773 MSEK (812).
  • Non-recurring items, before tax, amounted to 0 MSEK (100).
  • Significant event after the end of the period: The Board of Directors proposes a dividend of 2.30 SEK per share (2.25) for 2019.

JANUARY - SEPTEMBER 2020

  • Sales amounted to 10,022 MSEK (11,734).
  • Operating profit, excl. non-recurring items, amounted to 1,389 MSEK (1,720).
  • Operating margin, excl. non-recurring items, amounted to 13.9 percent (14.7).
  • Profit after tax amounted to 953 MSEK (1,206).
  • Earnings per share amounted to 2.77 SEK (3.50). Earnings per share, excl. non-recurring items, decreased by 21 percent to 2.94 SEK (3.74).
  • Operating cash flow amounted to 1,525 MSEK (1,875).
  • Non-recurring items, before tax, amounted to 76 MSEK (100).

The third quarter 2020 showed sales of 3,328 MSEK, an increase by 32 percent compared to the previous quarter positively affected by demand that has begun to recover. At the same time, the sales decreased by 22 percent compared to the corresponding quarter previous year. The lower sales were affected by Covid-19 and which impacted the countries we are in and the customers we supply with our products as well as lower sales prices. We also continued to reduce our costs during the third quarter compared to previous quarters. That means we delivered a very strong adjusted EBIT of 593 MSEK (583), which corresponds to a margin of 17.8 percent (13.7). At the same time, we generated a good operating cash flow of 773 MSEK (812).

HEXPOL’s experienced and decentralized organization continues to show its strength in situations like this with major and varied challenges. Every unit acts fast and adapts to the conditions that apply locally, both to be able to support our customers but also to secure our financial position. The uncertainty going forward remains high, due to the Covid-19 pandemic. However, we believe that our strong customer focus in combination with our geographical closeness to our customer gives us opportunities to further build our market position.

For more information, please contact:

Peter Rosén, Acting CEO & CFO
Tel: +46 (0)40 25 46 60

HEXPOL is a world-leading polymers group with strong global positions in advanced polymer compounds (Compounding), gaskets for plate heat exchangers (Gaskets), and plastic and rubber materials for truck and castor wheel applications (Wheels). Customers are primarily systems suppliers to the global automotive and engineering industry, construction industry, the energy, oil and gas sector, medical equipment manufacturers and OEM manufacturers of plate heat exchangers and forklifts. The Group is organised in two business areas, HEXPOL Compounding and HEXPOL Engineered Products. The HEXPOL Group’s sales in 2019 amounted to 15,508 MSEK. The HEXPOL Group has approximately 4,600 employees in fourteen countries. Further information is available at www.hexpol.com.

This press release consists of such information that HEXPOL AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 12:00 p.m. CET on 23 October, 2020. This report has been prepared both in Swedish and English. In case of any divergence in the content of the two versions, the Swedish version shall have precedence.

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