ERJ staff report (LMH)
Stockholm – Rubber compounding company Hexpol said 2012 was its “best year so far” with strong growth and improved margins of 13.4 percent, up from 12.4 percent in 2011.
Sales in 2012 rose 11 percent to SEK 8 billion (Euro 94 6 million), while operating profit grew by 19 percent to SEK 1.07 billion.
“Our earnings for 2012 were the best so far for the Hexpol group,” commented president Georg Brunstam. He attributed some of the company's success to Hexpol's acquisition of Müller Kunststoffe, which led to the creation of "a leading European TPE (thermoplastic elastomer) compounding operation.”
He added that Swedish company strengthened its position in the US through the acquisition of US rubber compounding group Robbins, which has annual sales of approximately $100 million (Euro 72 million).
In the fourth quarter, operating profit increased to SEK 230 million, from SEK 220 million year-on-year. However, sales were down from SEK 1.8 billion in the fourth quarter of 2011 to SEK 1.7 billion in Q4 2012. Brunstam attributed this fall in sales to currency effects and “inventory adjustments made by customers at the end of the year.”
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Press release from Hexpol