STOCKHOLM, Sweden--(BUSINESS WIRE)--Regulatory News:
Third quarter 2014 – Continued strong volume development – best result so far
-- Sales rose 13 per cent to 2,312 MSEK (2,039).
-- Operating profit increased 20 per cent to 388 MSEK (324).
-- Operating margin improved to 16.8 per cent (15.9).
-- Profit after tax rose 21 per cent to 280 MSEK (232).
-- Earnings per share increased 21 per cent to 8.13 SEK (6.74).
-- Operating cash flow increased to 460 MSEK (395).
-- On August 1 the business of Kardoes Rubber Co., a well-known Rubber Compounder in the US market, was acquired.
-- An agreement was signed October 8 to acquire the business of VIGAR Rubber Compounding, a well-known Rubber Compounder in the Spanish and German market.
Jan-Sep 2014 – Strong volume increases in all geographical regions
-- Sales rose 8 per cent to 6,588 MSEK (6,113).
-- Operating profit increased 19 per cent to 1,112 MSEK (934).
-- Operating margin improved to 16.9 per cent (15.3).
-- Profit after tax rose 18 per cent to 800 MSEK (676).
-- Earnings per share increased 18 per cent to 23.24 SEK (19.64).
-- Operating cash flow rose to 1,159 MSEK (1,020).
“The third quarter of 2014 was again a strong quarter for the HEXPOL Group, our best so far. The volume development was again positive in all geographic regions and gratifying is that volumes in Europe continued to improve. Group sales improved 13 per cent and operating profit improved by 20 per cent. Our earnings per share improved to 8.13 SEK (6.74), and the operating cash flow continued to be strong. The acquisition of Kardoes Rubber Co. was finalized during the quarter. The acquisition is a good complement to HEXPOL Compounding in US and broadens and strengthens our presence with rubber compounds in end user markets such as industrial materials handling and agriculture equipment.
January-September 2014 was a period with strong volume increases in all geographic regions and with strong earnings development. Our earnings per share rose 18 per cent to 23.24 SEK (19.64). Our balance sheet is strong and, with a net debt of 36 MSEK (666), we are well equipped for continued expansion.
An agreement was signed October 8 to acquire the business of VIGAR Rubber Compounding with manufacturing facilities in Rubi, Spain and in Viersen, Germany. The acquisition is a very good complement to HEXPOL Compounding in Europe and broadens and strengthens our presence with Rubber Compounds in the Spanish and German market.“
Georg Brunstam, President and CEO
HEXPOL is a world-leading polymers group with strong global positions in advanced rubber compounds (Compounding), gaskets for plate heat exchangers (Gasket), and plastic and rubber materials for truck and castor wheel applications (Wheels). Customers are primarily OEM manufacturers of plate heat exchangers and trucks, systems suppliers to the global automotive and engineering industries, the energy sector and medical equipment manufacturers. The Group is organised in two business areas, HEXPOL Compounding and HEXPOL Engineered Products. The HEXPOL Group’s sales in 2013 amounted to 8,036 MSEK. The HEXPOL Group has approximately 3,500 employees in ten countries. Further information is available at www.hexpol.com.
This report consists of such information that HEXPOL AB (publ) is obliged to disclose in accordance with the Swedish Securities Market Act and/or the Financial Instruments Trading Act. The information was submitted for publication on October 24, 2014, at 12:00 p.m. CET.
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