In the first quarter 2015 Hexagon Composites generated NOK 401.6 (410.5) million in operating income and made an operating profit before depreciation (EBITDA) of NOK 52.9 (85.1) million. Operating profit (EBIT) was NOK 39.5 (67.1) million and profit before tax came to NOK 53.3 (57.5) million.
Operating results declined in the first quarter, versus first quarter 2014, impacted by lower sales volumes for Mobile PipelineTM solutions and Low-Pressure Cylinders, together with higher costs related to the strengthening of engineering, innovation and administration resources. Results were also impacted by weak demand for light-duty vehicles. These effects were partly offset by strong sales volumes in the heavy-duty truck and transit bus markets in North America which reached record levels during the quarter, despite continued low oil prices. Lower depreciation and finance related costs had a positive impact of results for the quarter.
For more information:Solveig D Saether, Communication Manager, Hexagon Composites ASATelephone: +47 906 34 977 | email@example.com