Hexpol issues results for "best year so far"

Malmo, Sweden – Swedish polymer group Hexpol has reported "its best year so far" in terms of finances, issuing its fourth quarter and annual financial results for its fiscal year to 31 Dec 2014.

In its annual report, issued 6 Feb, Hexpol's sales rose 11 percent year-on-year to SEK8,919 million (€942 million) while operating profit was 16 percent higher at SEK1,456 million.

For the fourth quarter, Hexpol said sales rose by 21 percent to SEK 2,331 million (€246 million) and its operating profit by 19 percent to SEK382 million.

The profit excluded the November 2014 acquisition, integration and restructuring costs of Vigar Rubber Compounding, which the company estimated at around SEK 38 million.

Furthermore, in December 2014, Hexpol acquired Portage Precision Polymers rubber compounder with two manufacturing facilities in Ohio (Ravenna and Mogadore), US.

“The fourth quarter of 2014 was again a strong quarter for the Hexpol Group,” said the group CEO and president Georg Brunstam.

Commenting on Hexpol's acquisition activities Brunstam said: “During the second half year, we made four acquisitions within our focus area polymer compounding.

"The acquisitions strengthens our market positions and gives us competences within new end user segments and materials.”