Hexagon Composites ASA : Interim results for Q3 2013

Oct 31, 2013

Hexagon Composites ASA achieved a turnover of NOK 391.4 (234.1) million and an operating profit before depreciation (EBITDA) of NOK 60.7 (11.8) million in the third quarter of 2013. Operating profit (EBIT) was NOK 42.0 (-1.7) million and profit before tax was NOK 34.9 (-9.0) million. All business areas showed a positive operating profit for the period.

Highlights from the quarter:

* Cummins-Westport started ordinary sales of its new 11.9 litre gas-powered engine. The engine has been very well received in the market and has led to strong growth in demand for Hexagon Composites' gas tanks for heavy duty vehicles in North America
* Most of the end customers in North America are reported to be choosing CNG rather than LNG systems. Hexagon Composites is the market leader in CNG tanks
* Continued high activity in the segment for CNG transportation and storage systems (TITAN(TM) and SMARTSTORE(TM)).
* Good quarter for bus systems in Europe
* Higher than anticipated demand for LPG containers in Europe and satisfactory growth outside Europe
* Succesful Factory Acceptance Test in Rugasco (RUS)
* Renewed growth in the North American windmill market

For more information:

Jon Erik Engeset, CEO, Hexagon Composites ASA
Telephone: +47 916 30 550 | E-mail: jon.erik.engeset@hexagon.no

Tor O. Husø, CFO, Hexagon Composites ASA
Telephone: +47 95 81 97 74 | E-mail: tor.huso@hexagon.no

Solveig D Saether, Communication Manager, Hexagon Composites ASA
Telephone: +47 906 34 977 | E-mail: solveig.saether@hexagon.no

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.