Hexagon Composites reports Q2 2016 operating income of NOK 315.6 million, compared to NOK 413.9 million in the same period of 2015. Operating profit before depreciation (EBITDA) was NOK 37.0 million, down from NOK 37.4 million. Operating profit (EBIT) was NOK 19.7 million, compared to NOK 23.2 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, Hexagon said. However weak sales volumes within high-pressure cylinders continued to hamper overall profitability for the group.
For the first half year of 2016 provided an operating income of NOK 607.2 million, down from NOK 815.5 million in the same period of 2015. Operating profit before depreciation (EBITDA) was NOK 55.6 million compared to NOK 90.2 million. Operating profit (EBIT) was NOK 22.9 million (NOK 62.7 million).
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.