Hexagon Composites ASA : Interim report third quarter 2011

Oct 27, 2011

In the first nine months of the year Hexagon Composites ASA achieved a turnover of MNOK 760.0 million (610.9) and an operating profit before depreciation (EBITDA) of MNOK 96.3 (87.6). Operating profit (EBIT) was 42.7 MNOK (34.1) and profit before tax was 33.0 MNOK (32.8).

The results for third quarter in isolation, is significantly reduced compared to the same period last year and the previous quarter, and is mainly affected by reduced sales in all business units.

Key events in the group since the last interim report:

* Devold AMT achieved a positive EBIT for the first time since first quarter 2009
* Ragasco implemented redundancies and lay-offs as a result of the company's adjustment of capacity

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, 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.