First quarter 2014 – Volume increases in all regions and further improved
· Sales rose 6 per cent to 2,131 MSEK (2,014).
· Operating profit increased 22 per cent to 364 MSEK (298).
· The operating margin improved to 17.1 per cent (14.8).
· Profit after tax rose 21 per cent to 262 MSEK (216).
· Earnings per share increased 21 per cent to 7.61 SEK (6.28).
· Operating cash flow was strong and increased to 287 MSEK (240).
“The first quarter of 2014 was a strong quarter for the HEXPOL Group. Our volume
development was positive and volumes improved in all geographic regions compared
with the year-earlier period. Especially gratifying is that volumes in Europe
increased, albeit from a low level. Sales increased by 6 per cent, despite a
negative impact from lower prices for our principal raw materials which,
however, has stabilised during the last two quarters. Our earnings per share
improved to 7.61 SEK (6.28), up 21 per cent. The operating margin improved to
17.1 per cent (14.8) and our operating profit rose 22 per cent to 364 MSEK
(298). Return on capital employed increased to 30.8 per cent (24.5). Operating
cash flow was once again strong, increasing to 287 MSEK (240). Our balance sheet
is strong and, with a net debt of 133 MSEK (1,013), we are well-equipped for
Georg Brunstam, President and CEO
For more information, please contact:
Georg Brunstam, President and CEO
Tel: +46 708 55 12 51
Karin Gunnarsson, Chief Financial Officer, Investor Relations Manager
Tel: +46 705 55 47 32
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 3,400 employees in ten countries. Further
information is available at www.hexpol.com.
This report may contain forward-looking statements. When used in this report,
words such as “anticipate”, “believe”, “estimate”, “expect”, “plan” and
“project” are intended to identify forward-looking statements. Such statements
could encompass risks and uncertainties pertaining to product demand, market
acceptance, effects of economic conditions, impact of competitive products and
pricing, foreign currency exchange rates and other risks. These forward-looking
statements reflect the views of HEXPOL’s management as of the date made with
respect to future events but are subject to risks and uncertainties. While all
of these forward-looking statements are based on estimates and assumptions made
by HEXPOL’s management and are believed to be reasonable, they are inherently
uncertain and difficult to predict. Actual results and experience could differ
materially from the forward-looking statements. HEXPOL disclaims any intention
or obligation to update these forward-looking statements.
This report consists of such information that HEXPOL AB 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 7 May
2014, at 12:00 p.m. CET.
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