Swedish polymer group Hexpol AB on Friday reported a drop in third-quarter sales and profit, pointing to a decrease in volumes in North America.
The company said sales for the quarter ending Sept. 30 fell to 4.69 billion Swedish kronor from 4.98 billion kronor a year earlier.
Earnings before interest and taxes, or EBIT, declined to 688 million kronor from 800 million kronor, with the operating margin narrowing to 14.7% from 16.1%.
"During the quarter we saw stable volumes within the Group where the volumes in Europe grew slightly while those in North America decreased," said President and CEO Klas Dahlberg.
The results continue a trend from the second quarter, when Hexpol attributed weak North American demand to uncertainty surrounding potential trade tariffs.
Hexpol also noted a negative impact from a stronger Swedish krona, which it said reduced quarterly sales by 312 million kronor and EBIT by 53 million kronor.
The company said sales within its Engineered Products business area were stable, while operating cash flow for the quarter was 740 million kronor.
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Swedish polymer group Hexpol on Tuesday announced a new strategy focused on acquisitions in the thermoplastics market to drive growth through 2030, setting new long-term financial targets.
Hexpol AB on Friday reported lower second-quarter sales and profit, blaming the decline on weak demand in North America stemming from uncertainty over potential trade tariffs.