The President and CEO of Hexpol, Mikael Fryklund, has commented the data of 2019:
“The sales increased 6 per cent during the fourth quarter, while operating profit, excl. non-recurring items, was at the same level as previous year. The sales increased, thanks to the acquisitions, during the year. However, we saw organically a negative sales development in the quarter driven by a continued softening in demand. We are very pleased with the acquisition of Preferred Compounding and together we will be able to continue to develop our compounding business in America. Following the integration at Preferred Compounding has a restructuring project been initiated in order to optimize the operations and extract cost synergies, among other things two production units in US were closed during the quarter. During the full year 2019, the sales increased 13 per cent while earnings per share, excl. non-recurring items increased slightly compared to the previous year. Operating cash flow was strong and increased by 29 per cent. Our financial position remains strong and we are well equipped for further expansion.”
You can check out the complete details visiting the Hexpol website.