Hexagon Composites — Interim / Quarterly Report 2017

Feb 14, 2018

Agility Fuel Solutions Proforma P&L	2017	2016	2017	2016
As Reported by Agility USD m	Q4			Q4 Full Year Full Year*
	USD m	USD m	USD m USD m
Revenue	32,4	36,8	157,3	153,1
Operating expenses	‐31,7	‐33,5	‐142,6	‐144,8
Adjusted EBITDA	0,7	3,3	14,7	8,3
Adjusted EBITDA margin	2,2 %	9,0 %	9,3 %	5,4 %
Share based compensation Transaction & other non‐recurring expenses	‐0,5 ‐0,3	‐1,3 ‐0,3	‐4,9 ‐0,3	‐4,9 ‐10,8
Reported EBITDA	‐0,1	1,7	9,5	‐7,4
Depreciation and amortisation Interest expense	‐2,7 ‐0,1
Profit before tax	‐2,9
As Reported by Hexagon NOK m	NOK m
HEX 50% share of Agility Fuel Solutions Profit before tax before adjustments	‐11,6
GAAP and other accounting driven adjustments	‐0,5
Profit/(loss) from investments in associates and joint ventures before intangible amortisation	‐12,1
Intangible amortisation as recorded by Hexagon	‐3,4
Profit/(loss) from investments in associates and joint ventures	‐15,5

* ‐ Proforma comparative figures estimated on the basis that Agility Fuel Solutions combined results were effective throughout 2016