In the third quarter 2018 Hexagon Composites generated revenues of NOK 276.7 million compared with NOK 352.8 million in the corresponding period last year, which was positively impacted by the sale of certain assets to related party Agility. The operating profit before depreciation and amortization (EBITDA) was NOK 39.2 (51.2) million while operating profit (EBIT) was NOK 19.4 (33.8) million and profit before tax came to NOK 25.9 (21.8) million. EBITDA for the quarter included a positive impact of NOK 50 million triggered by a reduction of the earn-out obligation related to the 2016 xperion acquisition.
This adjustment was related to, and offset the negative impact from, the introduction of the Worldwide Harmonized Light Vehicles Test Procedures (WLTP).
The Hydrogen business segment reported EBITDA of NOK -14.8 million.
Key developments after balance sheet date