Hexagon Composites ASA Releases Results for Q1 2018

Overall, Group operating profit has markedly improved versus the first quarter 2017.

May 9, 2018

Hexagon Composites ASA

In the first quarter 2018 Hexagon Composites generated NOK 416.3 (346.2) million in operating income and made an operating profit before depreciation (EBITDA) of NOK 66.5 (35.1) million. Operating profit (EBIT) was NOK 47.3 (16.6) million and profit before tax came to NOK 31.3 (6.3) million.

Overall, Group operating profit has markedly improved versus the first quarter 2017. Operating results in the first quarter were impacted positively by strong sales volumes within Hexagon Mobile Pipelines and Hexagon Ragasco LPG. The EBITDA for the first quarter is the highest since the fourth quarter 2014 (excluding the exceptional gains recorded in fourth quarter 2016).

Key developments

Joined the Hydrogen Council http://hydrogencouncil.com/
Expanded into the maritime industry with the first delivery of CNG TITAN® tanks for fuel storage onboard a LNG gas supply vessel
Executed the re-organization of the new reporting structure

After balance sheet date

Paid a dividend for 2017 of NOK 0.30 per share
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