Quarterly Report • May 4, 2015
Quarterly Report
Open in ViewerOpens in native device viewer
Published on May 4, 2015
"The first quarter of 2015 was a strong quarter for the HEXPOL Group – our best so far. The Group sales increased significantly, +38 per cent, and our operating profit also increased significantly, +36 per cent, while the operating cash flow remained strong, 480 MSEK. We had strong sales growth primarily thanks to our (in 2014 and 2015) acquired units, positive currency effects and improved volumes in Europe and Asia and stable volumes in NAFTA. Simultaneously, sales have been affected by lower prices for our principal raw materials, which have been lower than the previous quarter and the year-earlier period. We have continued to improve our market positions and the integration of the acquired units proceeded according to plan. Our financial position remains very strong and with a net debt of 232 MSEK, we are well equipped for continued expansion. At the beginning of the year, the acquisition of RheTech Thermoplastic Compounding, a leading provider of thermoplastic compounds, was finalized and the business has developed according to plan."
Georg Brunstam, President and CEO
| Key Figures | Jan-Mar | Full Year | Apr 14- | |
|---|---|---|---|---|
| MSEK | 2015 | 2014 | 2014 | Mar 15 |
| Sales | 2 951 | 2 131 | 8 919 | 9 739 |
| Operating profit | 495 | 364 | 1 456 | 1 587 |
| Operating margin, % | 16,8 | 17,1 | 16,3 | 16,3 |
| Profit before tax | 490 | 358 | 1 436 | 1 568 |
| Profit after tax | 352 | 262 | 1 048 | 1 138 |
| Earnings per share, SEK | 10,23 | 7,61 | 30,45 | 33,07 |
| Equity/assets ratio, % | 62,7 | 61,3 | 69,3 | |
| Return on capital employed | 28,5 | 27,9 | ||
| Operating cash flow | 480 | 287 | 1 676 | 1 869 |
HEXPOL is a world-leading polymers group with strong global positions in advanced polymer 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, global systems suppliers to the automotive and engineering industries, the energy sector and the medical equipment manufacturers. The Group is organised in two business areas, HEXPOL Compounding and HEXPOL Engineered Products. The HEXPOL Group's sales in 2014 amounted to 8,919 MSEK. The HEXPOL Group has approximately 3,900 employees in eleven countries. Further information is available at www.hexpol.com.
The HEXPOL Group's sales rose 38 per cent to 2,951 MSEK (2,131) during the first quarter. Sales growth was strong primarily thanks to our (in 2014 and 2015) acquired units, positive currency effects and improved volumes in Europe and Asia and stable volumes in NAFTA. Currency effects had a positive impact of 436 MSEK on sales, primarily thanks to a strengthening of the USD.
Sales growth (adjusted for currency effects) amounted to 18 per cent. Organic growth (adjusted for currency effects and acquisitions) was negative 2 per cent. Sales have been affected by lower prices for our principal raw materials, which have been lower than the previous quarter and the year-earlier period.
The volume development was positive in all geographical regions, compared with the year-earlier period. Adjusted for acquisitions, volume growth was positive in Europe and Asia and stable in NAFTA.
Operating profit rose 36 per cent to 495 MSEK (364), corresponding to an operating margin of 16.8 per cent (17.1). The operating profit improved mainly thanks to increased volumes and continued efficiency enhancements in the operations and positive exchange rate effects. Exchange-rate fluctuations had a positive impact of 85 MSEK on operating profit for the quarter.
At the beginning of the year, the acquisition of RheTech Thermoplastic Compounding, a leading provider within Thermoplastic Compounding, with four facilities in US (including manufacturing and laboratories) located in Whitmore Lake, Michigan (RheTech), Fowlerville, Michigan (RheTech), Sandusky, Ohio (RheTech Colors) and in Blacksburg, South Carolina (RheTech Engineered Plastics), was finalized.
The integration of units acquired 2014/2015 (Kardoes, Vigar Rubber Compounding, Portage Precision Polymers and RheTech Thermoplastic Compounding) proceeded according to plan.
*Excluding acquisition, integration and restructuring costs (Vigar)
The HEXPOL Compounding business area's sales increased 40 per cent during the quarter to 2,744 MSEK (1,954). Sales growth was strong primarily thanks to our (in 2014 and 2015) acquired units, positive currency effects and improved volumes in Europe and Asia and stable volumes in NAFTA. Sales have been affected by lower prices for our principal raw materials, which have been lower than the previous quarter and the year-earlier period.
Operating profit for the HEXPOL Compounding business area increased 40 per cent to 473 MSEK (337). The operating margin amounted to 17.2 per cent (17.2). The operating profit improved mainly thanks to increased volumes and continued efficiency enhancements in the operations as well as positive exchange rate effects.
The HEXPOL Engineered Products business area's sales for the quarter increased 17 per cent to 207 MSEK (177). Operating profit amounted to 22 MSEK (27), which corresponded to an operating margin of 10.6 per cent (15.3). During the first quarter 2014, insurance compensation of 6 MSEK was recognised for rebuilding the in April 2013 fire damaged production line at HEXPOL Wheel's facility in Laxå, Sweden.
The HEXPOL Group's sales in NAFTA (including Kardoes, Portage Precision Polymers and RheTech Thermoplastic Compounding) increased by 49 per cent compared with the year-earlier period. The HEXPOL Group's sales in Europe (including Vigar Rubber Compounding) increased 22 per cent, compared to the corresponding quarter previous year. In Asia, the HEXPOL Group's sales were 17 per cent higher than in the year-earlier period.
The Group's operating cash flow rose to 480 MSEK (287). The Group's net financial items amounted to an expense of 5 MSEK (expense: 6).
Profit before tax rose to 490 MSEK (358) and profit after tax increased to 352 MSEK (262). Earnings per share increased 34 per cent to 10.23 SEK (7.61).
The return on average capital employed (April 2014 – March 2015) amounted to 27.9 per cent (full year 2014 28.5). The return on shareholders' equity (April 2014 – March 2015) amounted to 23.5 per cent (full year 2014 24.2).
The equity/assets ratio increased to 62.7 per cent (61.3). The Group's total assets amounted to 9,261 MSEK (6,322). Net debt amounted to 232 MSEK (133).
The Group has the following three credit agreements with Nordic banks:
The operating cash flow rose to 480 MSEK (287). Cash flow from operating activities increased to 437 MSEK (262).
The Group's investments amounted to 25 MSEK (29). Investments are mainly attributable to maintenance investments (primarily in USA) and capacity investments (primarily within HEXPOL TPE Compounding). Depreciation and amortisation amounted to 53 MSEK (35).
The Group's tax expenses amounted to 138 MSEK (96), corresponding to a tax rate of 28.2 per cent (26.8).
The number of employees at the end of the quarter was 3,883 (3,432). The increase in number of employees relates mainly to acquired units.
In January 2015 the business of RheTech LLC and RheTech Colors, was acquired from the founders' families. RheTech Thermoplastic Compounding is a leading provider of thermoplastic compounds. RheTech Thermoplastic Compounding has four facilities in the US (including manufacturing and laboratories) located in Whitmore Lake, Michigan (RheTech), Fowlerville, Michigan (RheTech), Sandusky, Ohio (RheTech Colors) and in Blacksburg, South Carolina (RheTech Engineered Plastics). RheTech Thermoplastic Compounding had a turnover of 117 MUSD in 2013 with an EBITDA margin well below the HEXPOL Group. RheTech Thermoplastic Compounding has around 210 employees. The acquisition price amounts to approximately 112 MUSD on a cash and debt free basis. The operations were consolidated from the acquisition date. Group ownership is 100 per cent. The acquired surplus value amounts preliminary to 70 MUSD and relates primarily to intangible assets.
The HEXPOL Compounding business area is one of the world's leading suppliers in the development and manufacturing of advanced, high-quality polymer compounds. Customers are manufacturers of polymer products and components who impose rigorous demands on performance and global delivery capacity. The market is global and the largest end-customer segments are the automotive and engineering industries, followed by the construction sector. Other key segments are medical technology, cable and water treatment, energy, oil and gas industry, general industry and consumer.
| Jan-Mar | Full Year | Apr 14- | ||
|---|---|---|---|---|
| MSEK | 2015 | 2014 | 2014 | Mar 15 |
| Sales | 2 744 | 1 954 | 8 198 | 8 988 |
| Operating profit | 473 | 337 | 1 364 | 1 500 |
| Operating margin, % | 17,2 | 17,2 | 16,6 | 16,7 |
HEXPOL Compounding's sales (including the acquired business of Kardoes, Vigar Rubber Compounding, Portage Precision Polymers and RheTech Thermoplastic Compounding) increased 40 per cent to 2,744 MSEK (1,954), during the first quarter. Sales growth was strong primarily due to acquired units, positive currency effects and improved volumes in Europe and Asia and stable volumes in NAFTA. Sales have been affected by lower prices for our principal raw materials, which have been lower than the previous quarter and the year-earlier period.
Operating profit increased 40 per cent to 473 MSEK (337), which corresponded to an operating margin of 17.2 per cent (17.2). The operating profit improved mainly thanks to increased volumes, continued efficiency enhancements in the operations and positive exchange rate effects.
Sales in NAFTA increased compared with the year-earlier period. Excluding acquisitions the volumes were positive to automotive-related customers while volumes to certain segments such as mining, exporting industry, oil and gas sector were weaker. The planned integration of the operations of Kardoes, acquired during the third quarter 2014, has been successfully implemented. Also the planned integration of the operations of Portage Precision Polymers, acquired in December 2014, has been successfully implemented. The plant in Ravenna, Ohio, US, was not part of the transaction and the transfer of the business to other HEXPOL facilities, has been carried out. At the beginning of the year, the acquisition of RheTech Thermoplastic Compounding was finalized and the business develops according to plan.
Sales in Europe increased compared with the year-earlier period. Excluding acquisitions the volumes developed positively, primarily to automotive-related customers. The integration of Vigar Rubber Compounding, acquired in the fourth quarter 2014, develops according to plan and the negotiations of the planned closing of the manufacturing facility in Viersen, Germany, are in progress.
Sales in Asia increased compared with the year-earlier period primarily to automotive-related customers in China were the customer project portfolio continued to be strong.
The HEXPOL TPE Compounding product area had a stable development during the quarter.
*Excluding acquisition, integration and restructuring costs (Vigar)
The HEXPOL Engineered Products business area is one of the world's leading suppliers of advanced products, such as gaskets for plate heat exchangers (Gaskets) and wheels for the forklift industry (Wheels). The market for gaskets and wheels is global. Gasket customers include manufacturers of plate heat exchangers and wheel customers are manufacturers of forklifts and castor wheels.
| Jan-Mar | Full Year | Apr 14- | ||
|---|---|---|---|---|
| MSEK | 2015 | 2014 | 2014 | Mar 15 |
| Sales | 207 | 177 | 721 | 751 |
| Operating profit | 22 | 27 | 92 | 87 |
| Operating margin, % | 10,6 | 15,3 | 12,8 | 11,6 |
The HEXPOL Engineered Products business area's first quarter sales increased 17 per cent to 207 MSEK (177). Operating profit amounted to 22 MSEK (27), corresponding to an operating margin of 10.6 per cent (15.3). During the first quarter 2014, operating profit was positively affected by insurance compensation of 6 MSEK for rebuilding the fire damaged (in April 2013) production line at HEXPOL Wheel's facility in Laxå Sweden.
The sales development for the HEXPOL Gaskets product area was positive on all geographical regions however sales remained weak to project-related operations. As before, the market was characterised by general price pressure.
Further more, sales for HEXPOL Wheels product area developed positively on all geographical regions. The HEXPOL Wheels business in US had a continued positive development.
The Parent Company's profit after tax amounted to 43 MSEK (13), which includes dividends from subsidiaries. Shareholders' equity amounted to 3,252 MSEK (3,252).
The Group's and Parent Company's business risks, risk management and management of financial risks are described in detail in the 2014 Annual Report. No significant events occurred during the year that affected or changed these descriptions of the Group's or the Parent Company's risks and their management.
The consolidated financial statements in this interim report have been prepared in compliance with International Financial Reporting Standards (IFRS), as adopted by the EU. The Parent Company's financial statements have been prepared in compliance with the Annual Accounts Act and the Swedish Financial Reporting Board's recommendation RFR 2, Reporting for Legal Entities. This interim report has been prepared in accordance with IAS 34 Interim Financial Reporting. The accounting and measurement policies, as well as the assessment bases, applied in the 2014 Annual Report have also been applied in this interim report. No new or revised IFRSs that entered into force in 2015 have had any significant impact on the Group.
HEXPOL AB (publ), with Corporate Registration Number 556108-9631, is the Parent Company of the HEXPOL Group. HEXPOL's Class B shares are listed on the Stockholm Large Cap segment of the Nasdaq OMX Nordic exchange. HEXPOL had 8,572 shareholders on March 31, 2015. The largest shareholder is Melker Schörling AB with 26 per cent of the capital and 47 per cent of the voting rights. The 20 largest shareholders own 60 per cent of the capital and 71 per cent of the voting rights.
The Annual General Meeting is held on May 4, 2015 at 3:00 p.m. CET in Malmö (Börshuset, Skeppsbron 2), Sweden. The Annual Report for 2014 is available on HEXPOL's website and at the head office.
The Board of Directors proposes that the Annual General Meeting on May 4 approve a dividend of 12.00 SEK (9.00) per share, an increase by 33 per cent.
With the purpose to facilitate the trade in the company's shares at Nasdaq Stockholm, the Board of Directors proposes the Annual General Meeting to resolve on a share split (Sw: Uppdelning av aktier) 10:1 so that each existing share is divided into ten shares of the same series and that section 4 "Aktier" is changed in accordance with the proposed wording. The proposal involves that section 4 of the articles of association is changed in respect of the number of shares in the company so that the minimum number of shares permitted is two hundred million and the maximum number of shares permitted is eight hundred million, and with respect to the proportion of shares of series B in proportion to the total number of shares. After the share split is completed, the number of shares in the company will amount to 344,201,280 of which 14,765,620 shares of series A and 329,435,660 shares of series B.
The appointed committee, consisting of Mikael Ekdahl (Melker Schörling AB), Åsa Nisell (Swedbank Robur Fonder), Henrik Didner (Didner & Gerge Fonder) and Anders Algotsson (AFA Försäkring), has the following nominees for election to the Board: re-election of the Board members Melker Schörling, Alf Göransson, Jan-Anders Månsson, Malin Persson, Ulrik Svensson, Märta Schörling and Georg Brunstam.
This report will be presented via a telephone conference on May 4 at 1:00 p.m CET. The presentation, as well as information concerning participation, is available at www.hexpol.com.
HEXPOL AB will publish financial information on the following dates:
| | Annual General Meeting 2015 | May 4, 2015 |
|---|---|---|
| | Half-year report January-June 2015 | July 20, 2015 |
| | Interim report January-September 2015 | October 23, 2015 |
Financial information is also available in Swedish and English on HEXPOL AB's website – www.hexpol.com.
The interim report January-March 2015 has not been audited by HEXPOL AB's auditors.
Malmö, Sweden May 4, 2015 HEXPOL AB (publ)
Georg Brunstam, President and CEO
| Address: | Skeppsbron 3 |
|---|---|
| SE-211 20 Malmö, Sweden | |
| Corporate Registered Number | 556108–9631 |
| Tel: | +46 40-25 46 60 |
| Fax: | +46 40-25 46 89 |
| Website: | 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 May 4, 2015, at 12:00 p.m. CET. This report has been prepared both in Swedish and English. In case of any divergence in the content of the two versions, the Swedish version shall have precedence.
| Jan-Mar | Full Year | Apr 14- | ||
|---|---|---|---|---|
| MSEK | 2015 | 2014 | 2014 | Mar 15 |
| Sales | 2 951 | 2 131 | 8 919 | 9 739 |
| Cost of goods sold | -2 305 | -1 665 | -6 984 | -7 624 |
| Gross profit | 646 | 466 | 1 935 | 2 115 |
| Selling and administrative cost, etc. | -151 | -102 | -479 | -528 |
| Operating profit | 495 | 364 | 1 456 | 1 587 |
| Financial income and expenses | - 5 |
- 6 |
-20 | -19 |
| Profit before tax | 490 | 358 | 1 436 | 1 568 |
| Tax | -138 | -96 | -388 | -430 |
| Profit after tax | 352 | 262 | 1 048 | 1 138 |
| - of w hich, attributable to Parent Company shareholders |
352 | 262 | 1 048 | 1 138 |
| Earnings per share, SEK | 10,23 | 7,61 | 30,45 | 33,07 |
| Shareholders' equity per share, SEK | 168,65 | 112,64 | 146,69 | |
| Average number of shares, 000s | 34 420 | 34 420 | 34 420 | 34 420 |
| Depreciation, amortisation and impairment | -53 | -35 | -166 | -184 |
| Jan-Mar | Full Year | Apr 14- | |
|---|---|---|---|
| 2015 | 2014 | 2014 | Mar 15 |
| 352 | 262 | 1 048 | 1 138 |
| 0 | 0 | 0 | 0 |
| 0 | 0 | 0 | 0 |
| 0 | 0 | 0 | 0 |
| -86 | 0 | -143 | -229 |
| 19 | 0 | 32 | 51 |
| 471 | - 2 |
805 | 1 278 |
| 756 | 260 | 1 742 | 2 238 |
| 756 | 260 | 1 742 | 2 238 |
| Mar 31 | Dec 31 | ||
|---|---|---|---|
| MSEK | 2015 | 2014 | 2014 |
| Intangible fixed assets | 4 220 | 2 729 | 3 364 |
| Tangible fixed assets | 1 677 | 1 174 | 1 427 |
| Financial fixed assets | 1 | 1 | 1 |
| Deferred tax asset | 59 | 32 | 40 |
| Total fixed assets | 5 957 | 3 936 | 4 832 |
| Inventories | 759 | 475 | 580 |
| Accounts receivable | 1 424 | 963 | 945 |
| Other receivables | 119 | 114 | 76 |
| Prepaid expenses and accrued income | 37 | 31 | 25 |
| Cash and cash equivalents | 965 | 803 | 826 |
| Total current assets | 3 304 | 2 386 | 2 452 |
| Total assets | 9 261 | 6 322 | 7 284 |
| Equity attributable to Parent Company's shareholders | 5 805 | 3 877 | 5 049 |
| Total shareholders' equity | 5 805 | 3 877 | 5 049 |
| Interest-bearing liabilities | 406 | 903 | 219 |
| Provision for deferred tax | 277 | 190 | 240 |
| Provision for pensions | 20 | 17 | 20 |
| Total non-current liabilities | 703 | 1 110 | 479 |
| Interest-bearing liabilities | 791 | 33 | 348 |
| Accounts payable | 1 375 | 928 | 1 017 |
| Other liabilities | 203 | 136 | 60 |
| Accrued expenses, prepaid income, provisions | 384 | 238 | 331 |
| Total current liabilities | 2 753 | 1 335 | 1 756 |
| Total shareholders' equity and liabilities | 9 261 | 6 322 | 7 284 |
| Mar 31 2015 | Mar 31 2014 | Dec 31 2014 | ||||
|---|---|---|---|---|---|---|
| Attributable | Attributable | Attributable | ||||
| to Parent to Parent |
to Parent | |||||
| Company | Company | Company | ||||
| MSEK | shareholders | Total equity | shareholders | Total equity | shareholders | Total equity |
| Opening equity | 5 049 | 5 049 | 3 617 | 3 617 | 3 617 | 3 617 |
| Comprehensive income | 756 | 756 | 260 | 260 | 1 742 | 1 742 |
| Dividend | - | - | - | - | -310 | -310 |
| Closing Equity | 5 805 | 5 805 | 3 877 | 3 877 | 5 049 | 5 049 |
| Total number of Class A shares |
Total number of Class B shares |
Total number of shares |
|
|---|---|---|---|
| Number of shares at January 1 | 1 476 562 | 32 943 566 | 34 420 128 |
| Number of shares at the end of the period | 1 476 562 | 32 943 566 | 34 420 128 |
| Jan-Mar | Full Year | Apr 14- | ||
|---|---|---|---|---|
| MSEK | 2015 | 2014 | 2014 | Mar 15 |
| Cash flow from operating activities before changes in w orking capital |
480 | 345 | 1 260 | 1 395 |
| Changes in w orking capital |
-43 | -83 | 172 | 212 |
| Cash flow from operating activities | 437 | 262 | 1 432 | 1 607 |
| Acquisitions | -919 | - | -413 | -1 332 |
| Cash flow from other investing activities |
-25 | -29 | -118 | -114 |
| Dividend | - | - | -310 | -310 |
| Cash flow from other financing activities |
573 | -25 | -467 | 131 |
| Change in cash and cash equivalents | 66 | 208 | 124 | -18 |
| Cash and cash equivalents at January 1 | 826 | 597 | 597 | 803 |
| Exchange-rate differences in cash and cash equivalents | 73 | - 2 |
105 | 180 |
| Cash and cash equivalents at the end of the period | 965 | 803 | 826 | 965 |
| Jan-Mar | Full Year | Apr 14- | ||
|---|---|---|---|---|
| MSEK | 2015 | 2014 | 2014 | Mar 15 |
| Operating profit | 495 | 364 | 1 456 | 1 587 |
| Depreciation/amortisation | 53 | 35 | 166 | 184 |
| Change in w orking capital |
-43 | -83 | 172 | 212 |
| Sales of fixed assets | 0 | 0 | 11 | 11 |
| Investments | -25 | -29 | -129 | -125 |
| Operating Cash flow | 480 | 287 | 1 676 | 1 869 |
| Jan-Mar | Full Year | Apr 14- | ||
|---|---|---|---|---|
| 2015 | 2014 | 2014 | Mar 15 | |
| Profit margin before tax, % | 16,6 | 16,8 | 16,1 | 16,1 |
| Return on shareholders' equity, % | 24,2 | 23,5 | ||
| Interest-coverage ratio, multiple | 82,7 | 72,6 | 72,8 | 75,7 |
| Net cash, MSEK | -232 | -133 | 259 | |
| Net debt ratio, multiple | 0,0 | 0,0 | 0,0 | |
| Cash flow per share, SEK |
12,70 | 7,61 | 41,60 | 46,69 |
| Cash flow per share before change in w orking capital, SEK |
13,95 | 10,02 | 36,61 | 40,54 |
| Mar 31 | Dec 31 | ||
|---|---|---|---|
| MSEK | 2015 | 2014 | 2014 |
| Other current receivables | |||
| Currency derivates | 1 | 0 | 0 |
| Other current liabilities | |||
| Currency derivates | 0 | 0 | 0 |
Derivatives consist of currency forward contracts and are used primarily for hedging purposes and are measured at the level 2. Fair value for other financial assets and liabilities are consistent in all material respects with the accounting value in the balance sheet.
| 2015 | 2014 | Full- | Apr 14- | 2013 | Full Full |
|||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| MSEK | Q1 | Q1 | Q2 | Q3 | Q4 Year | Mar 15 | Q1 | Q2 | Q3 | Q4 | Year | |
| HEXPOL Compounding | 2 744 1 954 1 971 2 125 2 148 8 198 | 8 988 1 831 1 889 1 876 1 749 7 345 | ||||||||||
| HEXPOL Engineered Products | 207 | 177 | 174 | 187 | 183 | 721 | 751 | 183 | 171 | 163 | 174 | 691 |
| Group total | 2 951 2 131 2 145 2 312 2 331 8 919 | 9 739 2 014 2 060 2 039 1 923 8 036 |
| 2015 | 2014 | Full- | Apr 14- | 2013 | Full Full |
|||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| MSEK | Q1 | Q1 | Q2 | Q3 | Q4 | Year | Mar 15 | Q1 | Q2 | Q3 | Q4 | Year |
| Europe | 850 | 699 | 677 | 684 | 671 2 731 | 2 882 | 655 | 642 | 617 | 609 2 523 | ||
| NAFTA | 1 963 1 314 1 343 1 496 1 524 5 677 | 6 326 1 261 1 309 1 310 1 203 5 083 | ||||||||||
| Asia | 138 | 118 | 125 | 132 | 136 | 511 | 531 | 98 | 109 | 112 | 111 | 430 |
| Group total | 2 951 2 131 2 145 2 312 2 331 8 919 | 9 739 2 014 2 060 2 039 1 923 8 036 |
| 2015 | 2014 | Full- | Apr 14- | 2013 | Full Full |
|||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| MSEK | Q1 | Q1 | Q2 | Q3 | Q4 | Year | Mar 15 | Q1 | Q2 | Q3 | Q4 | Year |
| HEXPOL Compounding | 473 | 337 | 338 | 364 | 325 1 364 | 1 500 | 282 | 296 | 305 | 294 1 177 | ||
| HEXPOL Engineered Products | 22 | 27 | 22 | 24 | 19 | 92 | 87 | 16 | 16 | 19 | 27 | 78 |
| Group total | 495 | 364 | 360 | 388 | 344 1 456 | 1 587 | 298 | 312 | 324 | 321 1 255 |
| 2015 | 2014 | Full- | Apr 14- | 2013 | Full- Full |
|||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| % | Q1 | Q1 | Q2 | Q3 | Q4 | Year | Mar 15 | Q1 | Q2 | Q3 | Q4 | Year |
| HEXPOL Compounding | 17,2 | 17,2 | 17,1 | 17,1 | 15,1 | 16,6 | 16,7 | 15,4 | 15,7 | 16,3 | 16,8 | 16,0 |
| HEXPOL Engineered Products | 10,6 | 15,3 | 12,6 | 12,8 | 10,4 | 12,8 | 11,6 | 8,7 | 9,4 | 11,7 | 15,5 | 11,3 |
| Group total | 16,8 | 17,1 | 16,8 | 16,8 | 14,8 | 16,3 | 16,3 | 14,8 | 15,1 | 15,9 | 16,7 | 15,6 |
| Jan-Mar | Full Year | ||
|---|---|---|---|
| MSEK | 2015 | 2014 | 2014 |
| Sales | 11 | 9 | 35 |
| Administrative costs, etc. | -15 | -15 | -59 |
| Operating loss | -4 | -6 | -24 |
| Financial income and expenses | 47 | 18 | 303 |
| Profit/loss after net financial items | 43 | 12 | 279 |
| Appropriations | - | - | 0 |
| Profit/loss before tax | 43 | 12 | 279 |
| Tax | 0 | 1 | 1 |
| Profit/loss after tax | 43 | 13 | 280 |
| Mar 31 | |||||
|---|---|---|---|---|---|
| MSEK | 2015 | 2014 | 2014 | ||
| Total fixed assets | 5 054 | 4 921 | 4 990 | ||
| Total current assets | 2 485 | 1 257 | 1 361 | ||
| Total assets | 7 539 | 6 178 | 6 351 | ||
| Total shareholders' equity | 3 252 | 3 252 | 3 209 | ||
| Total non-current liabilities | 405 | 914 | 219 | ||
| Total current liabilities | 3 882 | 2 012 | 2 923 | ||
| Total shareholders' equity and liabilities | 7 539 | 6 178 | 6 351 |
| Capital employed | Total assets less non-interest-bearing liabilities. |
|---|---|
| Cash flow | Cash flow from operating activities after changes in working capital. |
| Cash flow per share | Cash flow from operating activities after changes in working capital divided by the average number of shares. |
| Earnings per share | Profit after tax, attributable to Parent Company shareholders, divided by the average number of shares. |
| EBIT | Operating profit after depreciation, amortisation and impairment. |
| EBITDA | Operating profit before depreciation, amortisation and impairment. |
| Equity/assets ratio | Shareholders' equity as a percentage of total assets. |
| Interest-coverage ratio | Profit before tax plus interest expenses divided by interest expenses. |
| Net investments | Purchases less sales of intangible and tangible fixed assets, excluding those included in acquisitions and divestments of subsidiaries. |
| Net debt/equity ratio | Interest-bearing liabilities less cash and cash equivalents divided by shareholders' equity. |
| Net debt | Interest-bearing liabilities less cash and cash equivalents. |
| Operating cash flow | Operating profit excluding items affecting comparability less depreciation/amortisation and net investments, and after changes in working capital. |
| Operating margin | Operating profit as a percentage of sales for the period. |
| Profit margin before tax | Profit before tax as a percentage of sales for the period. |
| Return on capital employed | Profit before tax plus interest expenses as a percentage of average capital employed. |
| Return on equity | Net profit attributable to Parent Company shareholders as a percentage of average shareholders' equity, excluding minority interests. |
| Shareholders' equity per share | Shareholders' equity attributable to Parent Company shareholders divided by the number of shares at the end of the period. |
Building tools?
Free accounts include 100 API calls/year for testing.
Have a question? We'll get back to you promptly.