Hexagon Composites - Earnings Release 2014

Hexagon Composites ASA - results for third quarter 2014

Operating income increased 3% in the third quarter to NOK 349.3 (339.3) million.

Operating profit before depreciation (EBITDA) grew 33% to NOK 75.1 (56.4)

million. Operating profit (EBIT) increased 36% to NOK 55.5 (40.7) million and

profit before tax from continuing operations grew 70% to NOK 59.7 (35.1)

million.

Hexagon Composites' operating results improved compared to the third quarter of

the previous year driven by continued growth in the Low Pressure Cylinder

market. Positive developments were partly offset by lower deliveries of fuel

cylinders to the Heavy Duty Truck segment in North America. The Gas Distribution

Products business continued to deliver solid results despite some delays in

deliveries.

Key developments:

* Continued strong Group margins according to targets

* Very good utilization rates in the Low Pressure Cylinders segment

* Strong Gas Distribution Products order book and increasing order intake from

Heavy Duty segment

* After the end of the quarter, Hexagon Lincoln acquired MasterWorks securing

key technology and enhanced engineering capacity within the High Pressure

Cylinder segment.

For more information:

Jon Erik Engeset, CEO, Hexagon Composites ASA

Telephone: +47 916 30 550 | [email protected]

David Bandele, CFO, Hexagon Composites ASA

Telephone: +47 920 91 483 | [email protected]

Solveig D Saether, Communication Manager, Hexagon Composites ASA

Telephone: +47 906 34 977 | [email protected]

This information is subject of the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.

[HUG#1866907]

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