By region, Hexpol's full-year sales decreased in Europe by 4 percent year-on-year, increased "slightly" in the Americas but rose sharply in Asia, posting a 7-percent increase.
Sales were bolstered by positive currency effects of $106 million, as well as a 3-percent contribution of acquisitions.
Meanwhile, Hexpol saw falling raw material prices during the year, which it said "flattened out" in the second half of the year.
Hexpol's Compounding business sales came in at $1.98 billion, down slightly from $2 billion the year before.
Adjusted for currency effects and acquisitions, segment sales fell to $1.89 billion, the group pointed out.
Hexpol noted that sales to automotive-related customers were showing "an improvement but still vary from market to market."
Deliveries to the building and construction market, however, were "significantly lower in virtually all markets," due to lower activity levels.
The compounding business also noted lower sales to consumer-related end customer segments, reflecting generally lower demand.
At the Hexpol Engineered Products business, sales grew 4 percent year-on-year from $138 million in 2022 to $141 million in 2023.
Operations in Asia and the Americas developed positively during the period, Hexpol said.
Looking ahead, Hexpol acting CEO and Chief Financial Officer Peter Rosen said:
"Uncertainty remains high in terms of development of inflation, interest rates, Russia's invasion of Ukraine as well as the unrest in the Middle East," said Peter Rosen, acting CEO and chief financial officer, when looking ahead.
Hexpol's customer focus and its geographical closeness to customers, however, will enable it to "deal with disruptions and further strengthen the market position," he added.
