Hexagon Composites reports that it generated NOK 266.2 million in operating income in Q3 2016, compared to NOK 256.9 million for the same period of 2015.
Operating profit before depreciation (EBITDA) was NOK 4.6 million, up from NOK -31.0 million. According to the company, operating results in the third quarter were impacted positively by a 52% growth in revenues within the low-pressure segment versus the same period last year. However, weak sales volumes of Mobile Pipeline hampered overall profitability for the group. ‘The realized cost initiatives executed towards the end of 2015 have a positive year-over-year impact on results,’ Hexagon said in a press release.
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.