In the second quarter 2016 Hexagon Composites generated NOK 315.6 (413.9) million in operating income and made an operating profit before depreciation (EBITDA) of NOK 37.0 (37.4) million. Operating profit (EBIT) was NOK 19.7 (23.2) million and profit/loss before tax came to NOK 18.4 (-11.7) million.
Operating results in the second quarter were impacted positively by a 20% growth in revenues within the Low-Pressure Cylinders segment versus the same period last year. However weak sales volumes within High-Pressure Cylinders continue to hamper overall profitability for the Group. The realized cost initiatives executed towards the end of 2015 are proving effective in countering the above volume reductions.
The first half year of 2016 provided an operating income of NOK 607.2 (815.5) million and had an operating profit before depreciation (EBITDA) of NOK 55.6 (90.2) million. The operating profit (EBIT) was NOK 22.9 (62.7) million and profit before tax was NOK 15.8 (41.6) million.
Other important events in the half-year reported previously
For more information:
Jon Erik Engeset, CEO, Hexagon Composites ASATelephone: +47 916 30 550 | email@example.com
David Bandele, CFO, Hexagon Composites ASATelephone: +47 920 91 483 | firstname.lastname@example.org
Solveig D Saether, Communication Manager, Hexagon Composites ASATelephone: +47 906 34 977 | email@example.com