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Uncertain economic conditions in marine and oil & gas affected Hempel’s customers in 2016, and this in turn affected Hempel’s overall performance. Turnover reached 1,424 mill. € (-4.5 %).

Operating profit amounted to 130 mill. €, down from 158. mill. € in 2015. Net profit for[ds_preview] the year 2016 was 47 mill. € (2015: 108 mill. €).

Hempel continued to deliver a solid profit margin, with an EBITDA margin of 13.2 %, equal to 188 mill. € (2015: 220 mill. €), which was very much driven by the operational initiatives in Hempel’s Journey to Excellence strategy. At the same time, Hempel’s cash flow and working capital in 2016 was its best in more than ten years.

The increasingly uncertain macro-economic conditions in many industries – such as marine and oil & gas – affected Hempel’s customers in 2016, and this in turn affected Hempel’s overall performance. Turnover reached EUR 1,424 million, which corresponds to negative organic growth of 4.5 %.

Hempel Group President and CEO Henrik Andersen joined Hempel in 2016. He comments: »Our strategy plan has been fully endorsed by the new Executive Management Board and Board of Directors. Our goal remains to grow faster than the market and maintain profitability in line with peers by improving customer focus. To achieve this, we are strengthening the foundation of Hempel to accelerate growth in the coming years.«

Hemepel key figures 2016
Source: Hempel