INTERIM REPORT Q1 2009

| Source: Hexagon Composites ASA Hexagon Composites ASA

Hexagon Composites has achieved its best ever quarterly result in the first quarter 2009. Operating profit was 21.0 MNOK and profit before tax was 34.1 MNOK. Turnover growth was 36% in relation to the first quarter of 2008.
 
Important events in the Hexagon Composites Group since the previous interim report:
  • Ragasco achieved its best ever quarterly result.
  • Ragasco entered an agreement with the Daimler Group for the supply of gas tanks for a new Mercedes Benz gas driven vehicle.
  • Hydrogen filling stations opened in Oslo and Drammen complete with world-leading gas storage technology from Lincoln Composites and Raufoss Fuel Systems.
For the first quarter Hexagon Composites ASA reported a turnover of 228.0 MNOK (168.0) and an operating profit before depreciation/amortisation, EBITDA, of 34.7 MNOK (19.5) and an operating profit, EBIT, of 21.0 MNOK (9.4).
 
Ragasco delivered an operating profit of 18.9 MNOK (9.7) in the first quarter. In the high-pressure container business unit (Lincoln/Raufoss) an operating profit of 2.7 MNOK (-0.7) was realised. Within this business unit both Lincoln Composites and Raufoss Fuel Systems reported a positive operating profit. The composite reinforcement business unit (Devold AMT) reported an operating profit of 3.0 MNOK (3.0).

Attachments

INTERIM REPORT Q1 2009 PRESENTATION Q1 2009