Hexpol second-quarter sales up 41%

MALMO, Sweden—Hexpol A.B. has reported a 41-percent year-on-year increase in second-quarter sales, to $552 million (SEK 5.654 billion) and earnings (EBIT) up 15 percent to $82 million.

The results for the three months to June 30 left second-half sales 39 percent higher at $1.06 billion and EBIT up 13 percent to $157 million.

Hexpol continued to handle raw material shortages, transport problems and higher raw materials and energy costs, President and CEO Georg Brunstam said of the second quarter showing.

"Once again, we delivered a very strong quarter," said Brunstam, noting "good sales in all markets and all product areas."

The Americas region, he said, showed "particularly strong development while sales to automotive-related customers remained pending.

Hexpol's second quarter figures equated to a margin 3.4 points lower than a year ago, at 14.8 percent. The first-half EBIT-margin came in at 14.9 percent, compared to the prior year's 18.3 percent.

"Included in the positive sales development are effects from acquisitions, positive currency effects and increased sales prices," noted Hexpol's July 15 results statement.

Leader Brunstam went on to reiterate previously made comments about Hexpol's preparedness for recovery in vehicle production as well as the group's continued focus on potential acquisitions.