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Hexagon Composites ASA : Results for the first quarter 2014

Hexagon Composites ASA achieved operating income in the first quarter of 2014
of NOK 410.5 million (305.9) and had an operating profit before depreciation
(EBITDA) of NOK 85.1 million (47.9). The operating profit (EBIT) was NOK 67.1
million (34.2), and the profit before tax for continuing operations was NOK
57.5 million (34.5). The results are presented after the sale of the
composites reinforcement business Hexagon Devold in January 2014.

Important events since the previous report:

* Record EBITDA of NOK 85.1 million
* Hexagon Lincoln Inc entered into a joint venture agreement with Agility
Fuel Systems
* High production efficiency
* Sale of Hexagon Devold completed
* Hexagon Ragasco post end of first quarter received two new large orders
from Qatar and Iraq to supply LPG cylinders
* Dividend of NOK 0.33 per share was paid on 5thMay

For more information:

Jon Erik Engeset, CEO, Hexagon Composites ASA
Telephone: +47 916 30 550 | jon.erik.engeset@hexagon.no

David Bandele, CFO, Hexagon Composites ASA
Telephone: +47 920 91 483 | david.bandele@hexagon.no

Solveig D Saether, Communication Manager, Hexagon Composites ASA
Telephone: +47 906 34 977 | solveig.saether@hexagon.no

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

HEX Q1 2014 Report
HEX Q1 2014 Presentation


This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Hexagon Composites ASA via Globenewswire


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