Hexagon Composites reports that it generated NOK 371.4 (496.9) million in operating income and made an operating profit before depreciation (EBITDA) of NOK 40.9 (88.5) million, compared to NOK496.9 million and NOK88.5 million in the same period of 2014.
Operating profit (EBIT) was NOK 18.6 (71.4) million and profit/loss before tax came to NOK 14.7 (63.5) million.
‘Hexagon Composites' financial performance improved from the third quarter,’ the company said in a press release. ‘Operating results in the fourth quarter were however lower than our levels achieved in the same period last year, impacted by lower sales volumes for Mobile Pipeline solutions and comparatively lower sales volumes of Low-Pressure Cylinders. The heavy-duty truck and transit bus market in North America remained robust. The program of cost initiatives announced in the previous quarter were all executed within the quarter. The positive effects to profit of these initiatives while partly realized in this quarter, will be fully realized in 2016.’
This story uses material from Hexagon Composites, with editorial changes made by Materials Today. The views expressed in this article do not necessarily represent those of Elsevier.