Hexagon Composites - Earnings Release 2019

Hexagon Composites ASA: Results for the first quarter 2019

In the first quarter 2019 Hexagon Group generated NOK 821.8 (416.3) million in

revenues and recorded an operating profit before depreciation (EBITDA) of NOK

150.3 (66.5) million, driven by the strong performance of Agility Fuel

Solutions, consolidated for the first time in this quarter after its acquisition

on 4 January. The acquisition included a net gain on the transaction of NOK

69.4 million. Operating profit (EBIT) was NOK 92.2 (47.3) million and

profit/loss before tax came to NOK 66.1 (31.3) million.

Key developments

* Closed the Agility Fuel Solutions transaction on 4 January 2019

* Agility extended exclusive long-term agreement with New Flyer Industries

with total value of MUSD 75 (approx. MNOK 640)

* Awarded order for TITAN® transport modules from Certarus with a total value

of MUSD 8.1 (approx. MNOK 70)

* Completed a private placement raising MNOK 493 of new share capital

* Placed a new senior unsecured bond of NOK 1.1 billion to complete the long-

term financing of the Agility transaction

* Awarded contract from Audi to supply hydrogen tanks for development and

small FCEV serial production

Key developments after balance sheet date

* Agility launched high-performance battery packs and electric drivetrains,

which will be delivered to multiple truck OEM electric vehicle programs

* Awarded order for TITAN® transport modules from Certarus with total value of

MUSD 5.2 million (approx. MNOK 45)

For more information

Jon Erik Engeset, CEO, Hexagon Composites ASA

Telephone: +47 916 30 550 | [email protected]

David Bandele, CFO, Hexagon Composites ASA

Telephone: +47 920 91 483 | [email protected]

Hiva Ghiri, VP Investor Relations, Hexagon Composites ASA

Telephone: +47 958 66 790 | [email protected]

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.

For more information, please visit www.hexagongroup.com

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