One off gain helps Hexagon EBITDA soar in Q4
February 28, 2017 - Norway
In the fourth quarter of 2016, operating profit before depreciation (EBITDA) at Hexagon Composites soared to NOK 314.7 million as against NOK 40.9 million in the prior year’s fourth quarter. Operating profit (EBIT) in the fourth quarter was NOK 288.7 million compared to NOK 18.6 million and profit before tax totalled NOK 304.9 million versus NOK 14.7 million.
According to the company, the results include a one-off gain of NOK 348 million, with corresponding tax provision charges of NOK 122 million, recognised as a result of the Agility Fuel Solutions transaction executed at the start of the quarter.
“The results for the three months ended December 31, 2016 also include one-off costs and movement in accruals contained to the quarter of approximately NOK 46 million,” the company said. (AR)
According to the company, the results include a one-off gain of NOK 348 million, with corresponding tax provision charges of NOK 122 million, recognised as a result of the Agility Fuel Solutions transaction executed at the start of the quarter.
“The results for the three months ended December 31, 2016 also include one-off costs and movement in accruals contained to the quarter of approximately NOK 46 million,” the company said. (AR)