Hexagon Annual Report 2017

9 2017 AT A GLANCE BOARD OF DIRECTORS’ REPORT FINANCIAL STATEMENTS IMPORTANT EVENTS IN 2017 POSITIONING FOR SIGNIFICANT LONG-TERM OPPORTUNITIES In 2017 Hexagon Composites prioritized the integration of the new business combination as a result of strategic moves in 2016. Going forward, the Group will focus on the significant long-term opportunities, particularly within hydrogen and biogas. ACQUISITION OF XPERION Successful integration of Hexagon xperion (renamed from xperion Energy & Environment) into the Group’s business units OPERATING INCOME • Record LPG performance – 30% revenue growth • Mobile Pipelines recovery in volumes • Exceptional Hydrogen growth • Positive macro sentiment for Light-Duty Vehicles PARTNERSHIPS Launched Hyon AS, a joint venture with NEL ASA and PowerCell Sweden AB, with an immediate focus on hydrogen related solutions within marine and maritime applications PROFITABILITY • EBIT margins for Low-Pressure LPG were above 19% • Underlying profitability in all business units • Agility recorded 78% growth in adjusted EBITDA FINANCE • Double-digit Group EBITDA margin • Strong balance sheet with 59% equity ratio • Net interest-bearing debt held to within 10% of total assets 1,429 MNOK 99 EBIT MNOK