DRAFT Hexpol “equipped” for more expansions, posts strong Q3

Malmo, Sweden – Hexpol AB has posted a 12% increase in third-quarter operating profit to SEK527 million (€51.1 million) on sales 17% higher at SEK3,443 million.

The sales gains reflected higher volumes and prices – linked to increasing raw material costs –  but also included a SEK313 million contribution from currency movements.

Currency factors added SEK49 million to operating profit in the third quarter which also included transaction costs of SEK9 million.

The third quarter brought Hexpol’s sales for the first nine months up 10% to SEK10,213 million and operating profit up 7% to SEK1,628 million. 

“The period January-September was strong,” said president and CEO Mikael Fryklund. “Our financial position remains strong and we are well equipped for further expansion.”

Frylund added that recent acquisitions Kirkhill Rubber and Mesgo Group would enhance Hexpol’s position within advanced elastomers and broaden its geographical presence, including in the US.