The Third Quarter 2009 is yet another record quarter for the Hexagon Group, delivering its best ever quarterly operating profit (EBIT) of 25.9 MNOK.
The Group had a third quarter turnover of 225.7 MNOK (194.0), an operating profit before depreciation (EBITDA) of 39.5 MNOK (24.8). Profit before tax for the third quarter was 34.9 MNOK (7.0).
Hexagon Composites has delivered its best ever 9 month period. The Group produced a turnover of 683.2 MNOK (556.6) over the year's first 9 months which is an increase of 23% in relation to the same period last year. Operating profit before depreciation (EBITDA) was 113.0 MNOK (67.8). Operating profit (EBIT) was 71.0 MNOK (36.7). This is 93% better than the corresponding period in 2008. Profit before tax amounted to 85.6 MNOK (14.6).
Important events in the Hexagon Composites Group since the previous interim report:
- Ragasco set yet another production record for LPG/propane containers.
- Lincoln Composites started production at their new facility for TUFFSHELL® gas containers.
- Devold AMT achieved significantly improved results from a similar turnover level to the previous quarter.
- The shares in Comrod Communication ASA have been sold
Ragasco delivered an operating profit of 24.8 MNOK (8.2) in the third quarter. In the high-pressure container business unit (Lincoln/Raufoss) an operating profit of 2.8 MNOK (1.7) was realised. Both Lincoln Composites and Raufoss Fuel Systems reported a positive operating profit. The composite reinforcement business unit (Devold AMT) reported an operating profit of -1.0 MNOK (5.6)
