Hexagon generated record high revenues in the fourth quarter of 2021.
Key developments in the quarter:
In the fourth quarter of 2021, Hexagon (excluding Purus) generated NOK 1 013 (793) million in revenues and recorded an operating profit before depreciation (EBITDA) of NOK 112 (124) million. Overall demand remains high with significant order backlog into 2022. The top-line growth, driven by both Hexagon Agility and Hexagon Ragasco, was 34% before negative year-over-year foreign currency translation effects of NOK -37 million. These impacts, mainly driven by US and German based operations, apply also to the cost base of those operations and are therefore less significant at EBITDA level.
For the year 2021, Hexagon (excluding Purus) generated NOK 3 277 (3 055) million in revenues and recorded an operating profit before depreciation (EBITDA) of NOK 381 (328) million. The top-line growth, coming from all segments, was 15% before negative year-over-year foreign currency translation effects of approximately NOK -200 million.
“As global supply chains are still trying to recover from the effects of the pandemic, these results are not just a testament to the demand for our technology, but also the foresight, skill and discipline our team has to navigate supply constraints”, says Jon Erik Engeset, CEO Hexagon Group.
Presentation of the results:
Jon Erik Engeset (CEO) and David Bandele (CFO) will present the results at 08:30 CET. The presentation will be held in the Auditorium at Hexagon's location in Oslo, Haakon VIIs gate 2, on the lower level. As Covid-19 restrictions are lifted in Norway, we welcome those that want to attend the presentation in person.
The presentation will also be broadcasted live via: https://channel.royalcast.com/landingpage/hegnarmedia/20220217_16/
A recording of the presentation will be made available on www.hexagongroup.com
For more information:
Hiva Ghiri, VP Investor Relations, Hexagon Composites
Telephone: +47 958 66 790 | hiva.ghiri@hexagongroup.com
Karen Romer, SVP Communications, Hexagon Composites
Telephone: +47 950 74 950 | karen.romer@hexagongroup.com
About Hexagon Composites ASA
Hexagon delivers safe and innovative solutions for a cleaner energy future. Our solutions enable storage, transportation, and conversion to clean energy in a wide range of mobility, industrial and consumer applications. Learn more at www.hexagongroup.com and follow @HexagonASA on Twitter and LinkedIn
This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act
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