The 2020 Mid-Year Economic Update_long

Hexcel 2014 Sales Up 10.6%

Fourth quarter sales were up 10.5 percent year-over-year.

Hexcel Corp. (NYSE: HXL), Stamford, CT, reported sales for 2014 of $1.8 billion, up 10.6 percent from 2013. Profit increased 11.4 percent to $209.4 million.

For the fourth quarter, sales were $471.8 million, 10.5 percent higher than the fourth quarter of 2013. Profit grew 12.3 percent to $52.9 million.

Total industrial sales were $64.8 million for the fourth quarter of 2014, up 19.1 percent from the fourth quarter of 2013. For the year, industrial sales were up 21.1 percent in constant currency, including the wind submarket which increased more than 25 percent from 2013. All Industrial markets rebounded well in 2014 after a weak 2013.

Commercial aerospace sales increased 8.4 percent for the quarter to $307.4 million. Revenues attributed to new aircraft programs increased more than 25 percent year-over-year and sales for Airbus and Boeing legacy aircraft rose modestly. For the full year, new program sales increased more than 35 percent, and Airbus and Boeing legacy aircraft increased 3 percent.

Fourth quarter space & defense sales of $99.6 million were 12.2 percent higher than the fourth quarter of 2013. Total sales for 2014 were at the same level as 2013.

"The company’s focus in 2015 will be driving manufacturing throughput, capacity expansion and superior execution to prepare for the substantial production ramp up that begins this year and accelerates significantly in 2016 and 2017,” said Nick Stanage, CEO & president.

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