Hexagon Composites reported that it generated NOK 291.6 million in operating income in Q1, compared to NOK 401.6 million in the same period of 2015.
Operating profit before depreciation (EBITDA) was NOK 18.6 million compared to NOK 52.9 million.
‘Operating results in the first quarter were impacted positively by a 17% growth in revenues within the Low-Pressure Cylinders segment versus the same period last year,’ the company said. ‘However, weak sales volumes for Mobile Pipeline solutions has hampered overall profitability for the Group, within the High-Pressure Cylinders segment. The cost initiatives executed in 2015 are being realized in 2016.’
This story is reprinted from material from Hexagon, with editorial changes made by Materials Today. The views expressed in this article do not necessarily represent those of Elsevier.