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Year-end report 2013

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Fourth quarter of 2013 – strong end of the year

  • Sales rose 9 per cent to 1,923 MSEK (1,764).
  • Operating profit increased 40 per cent to 321 MSEK (230).
  • The operating margin improved to 16.7 per cent (13.0).
  • Profit after tax rose 37 per cent to 254 MSEK (186).
  • Earnings per share increased 37 per cent to 7.38 SEK (5.41).
  • Operating cash flow was strong and increased to 398 MSEK (323).

Full-year 2013 – Continued strong earnings development, our best year so far

  • Sales amounted to 8,036 MSEK (8,007).
  • Operating profit increased 17 per cent to 1,255 MSEK (1,069).
  • The operating margin improved to 15.6 per cent (13.4).
  • Profit after tax rose 24 per cent to 930 MSEK (753).
  • Earnings per share increased 24 per cent to 27.02 SEK (21.88).
  • Operating cash flow was strong and increased to 1,418 MSEK (1,209).
  • The US rubber compounding company Robbins, which was acquired in November 2012, has been successfully integrated.
  • The Board of Directors proposes a dividend of 9.00 SEK per share (6.00).

President’s comments

“The fourth quarter of 2013 was once again a strong quarter for the HEXPOL Group. Our earnings per share improved significantly to 7.38 SEK (5.41), up 37 per cent. The operating margin improved to 16.7 per cent (13.0) and our operating profit rose 40 per cent to 321 MSEK (230). Sales were 9 per cent higher, despite a negative impact from lower prices for our principal raw materials which, however, stabilised during the quarter. Our volume development was positive and volumes grew in all geographic regions compared with the year-earlier period. Operating cash flow remained strong, increasing to 398 MSEK (323).

2013 was the best year so far for the HEXPOL Group. Our earnings per share increased 24 per cent to 27.02 SEK (21.88). We increased our volumes and improved our market positions. During the year, the US rubber compounding company Robbins that was acquired in November 2012, has been successfully integrated with a better earnings development than plan. Our balance sheet is strong and, with a net debt/equity multiple of 0.1 (0.4), 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, global systems suppliers to the automotive and engineering industries, the energy sector and the medical technology industry. The Group is organised in two business areas, HEXPOL Compounding and HEXPOL Engineered Products. The HEXPOL Group’s sales in 2013 amounted to 8,036 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 to the media for publication on February 6, 2014 at 08:00 p.m. CET. 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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