Hexagon Composites' operating results improved compared to the third quarter of the previous year driven by continued growth in the Low Pressure Cylinder market. Positive developments were partly offset by lower deliveries of fuel cylinders to the Heavy Duty Truck segment in North America. The Gas Distribution Products business continued to deliver solid results despite some delays in deliveries.
Operating income increased 3% in the third quarter to NOK 349.3 (339.3) million. Operating profit before depreciation (EBITDA) grew 33% to NOK 75.1 (56.4) million. Operating profit (EBIT) increased 36% to NOK 55.5 (40.7) million and profit before tax from continuing operations grew 70% to NOK 59.7 (35.1) million.
Solveig D Saether, Communication Manager, Hexagon Composites ASATelephone: +47 906 34 977 | firstname.lastname@example.org
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