Thanks to positive currency effects and acquisitions, Hexpol (Malmö, Sweden; www.hexpol.com) was able to keep sales reasonably stable in 2023. According to the elastomer specialist, sales fell by just 0.9% to SEK 22.05 bn (EUR 1.945 bn) in 2023. EBIT increased by 8.7% to SEK 3.58 bn and net profit by 1.7% to SEK 2.52 bn. 

At a geographical level, sales in Europe declined, while they rose slightly in Asia and North America. The latter is not particularly surprising, as the acquisitions involved two compounding companies in the US – namely McCann Plastics and Star Thermoplastic. 

In terms of customer sectors, construction was exceptionally weak in all markets, and sales of consumer goods also continued to suffer from end markets’ reluctance to buy. In contrast, sales to customers in the automotive industry showed a certain revival, although the trend varied greatly from market to market.

Related: Hexpol increases turnover, profit; European business under pressure

In the final quarter of the year, Hexpol’s business development came under somewhat greater pressure due to the weak economy. Sales fell by 11% to SEK 487 bn within a year, and neither EBIT (down by 10% to SEK 755 mn) nor net profit (down by 19% to SEK 507 mn) came close to the previous year’s figures.