Hexagon delivers safe and innovative solutions for a cleaner energy future. Telephone: +47 950 74 950 | Hexagon Composites ASA Telephone: +47 950 38 364 | Romer, SVP Communications, Hexagon Composites ASA Ingrid Aarsnes, VP Investor Relations & ESG, Hexagon Composites ASA The presentation will also be broadcast live via: If you would like to attend the presentation, please pre-register by emailing alternatively register upon arrival. The presentation will be held in the Auditorium at Hexagon's location in Oslo, Haakon VIIs gate 2, on the lower level. Jon Erik Engeset (CEO) and David Bandele (CFO) will present the results at 08:30 am today in Oslo. Presentation of the results today at 08:30 am CEST Government policies and regulations in relevant geographies are expected to drive significant growth.įor further details, please see the attached first quarter 2023 report and presentation. The fundamental market drivers are strong for all Hexagon’s business segments and demand across most segments is healthy. Profit improvement initiatives are expected to yield effect in the coming quarters,” says CEO Jon Erik Engeset. “Hexagon Ragasco, Hexagon Purus and Hexagon Digital Wave delivered a strong quarter, while Hexagon Agility’s profit margins were unsatisfactory. Hexagon Group (including Hexagon Purus) generated NOK 1 261 (1 016) million in revenues and recorded an operating profit before depreciation (EBITDA) of NOK -29 (-9) million in the first quarter of 2023.
Following the capital raise Hexagon Composites ASA holds 68.4% of the shares in Hexagon Purus and Hexagon Purus remains fully consolidated in the Hexagon Group accounts. In March, Hexagon Purus raised gross NOK 500 in new equity and NOK 800 in a convertible bond. In the first quarter of 2023, Hexagon Purus revenues grew 53% year-over-year to NOK 244 (159) million with an EBITDA of NOK -112 (-93) million. Operating profit before depreciation (EBITDA) totaled NOK 83 (84) million for the quarter. : Hexagon (excluding Hexagon Purus) reported revenues of NOK 1 130 (913) million, representing 24% growth compared to the same quarter last year driven by higher volumes, improved pricing as well as favorable FX translation effects.
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