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2nd February 2017, Stamford, CT

Hexcel sales top $2 billion

Commercial aerospace accounted for 71% of Hexcel’s total sales in 2016. © Hexcel The ramp-up of the A350 XWB and A320neo programmes by Airbus helped composites leader Hexcel push its sales to over $2 billion in 2016.

Commercial aerospace accounted for 71% of Hexcel’s total sales in 2016 and were 11.3% higher in constant currency than for 2015. New programme sales increased more than 40%.

Space and Defence sales, however, were 4.6% lower than 2015 with the decline primarily driven by lower rotorcraft sales. Rotorcraft now accounts for about 50% of the sales of this business area, with more than 85% coming from military sales as commercial rotorcraft sales have significantly declined in recent years.

Higher sales for the Industrial business, up 6.4%, were due to the Formax acquisition at the beginning of 2016, partially offset by weakness in the recreation and other industrial submarkets.

Hexcel’s operating income for 2016 was $360.1 million or 18% of sales, compared to $332.4 million or 17.9% of sales in 2015.

Full year sales were $2,004.3 million.

“Hexcel delivered a solid fourth quarter to end the year with record sales, operating income, net income and EPS,” said chairman, CEO and president Nick Stanage. “We are particularly pleased with our strong double-digit adjusted EPS growth as we generated $401 million of cash from operating activities in 2016, which funded our investments and capital expenditures for capacity expansion to support our organic growth.”

www.hexcel.com

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