AI assistant
Hexagon Composites — Earnings Release 2021
May 12, 2021
3619_rns_2021-05-12_b4a057c0-5ce2-48df-bac8-a55265ff7332.html
Earnings Release
Open in viewerOpens in your device viewer
Hexagon Composites ASA: Results for the first quarter 2021
Hexagon Composites ASA: Results for the first quarter 2021
In the first quarter of 2021, Hexagon (excl. Purus) generated NOK 690 (802)
million in revenues and recorded an operating profit before depreciation
(EBITDA) of NOK 87 (82) million. The US Truck and European Transit bus business
had a strong start to the year while it was a light quarter in Mobile Pipeline.
Headwinds from the global semi-conductor shortage impacted the Light-Duty sector
negatively. Hexagon Ragasco had a strong start with sales volumes primarily to
European markets, while Hexagon Digital Wave started the year with modest sales
volumes. However, development of a pipeline for digital products/services,
strengthened the positioning of the Hexagon Digital Wave business.
Key developments in the quarter
* Hexagon Purus selected for hydrogen fuel cell project for construction
equipment
* Hexagon Agility received orders from major global logistics customer with an
estimated total value of USD 19 million (approx. NOK 165 million).
* Hexagon Agility received orders from UPS for CNG trucks with a value of USD
8 million (approx. NOK 68 million)
* Hexagon Purus signed Joint Venture agreements with CIMC Enric for China and
South East Asia
* Hexagon Agility and Hexagon Purus signed long-term agreement with Certarus
for CNG, RNG and hydrogen solutions for a total value of up to USD 85
million (approx. NOK 718 million)
* Hexagon Purus' received hydrogen cylinder orders for leading gas
distributors in new markets in Europe
* Hexagon and Mitsui expanded and extended their strategic alliance
* Hexagon Digital Wave selected by the Antarctic Fire Department for continued
service life testing of SCBA cylinders
Key developments after balance sheet date
* Hexagon Purus selected by Nikola Corporation to supply hydrogen cylinders
for serial production with an estimated sales value in excess of EUR 200
million
* Hexagon Agility received additional orders from major global logistics
customer for RNG/CNG trucks with a combined value of USD 25 million (approx.
NOK 199 million)
* Hexagon Ragasco received first order in 2021 from key customer in South-Asia
* Hexagon Purus to deliver high performance cylinders to Wystrach for
industrial and mobility applications
Presentation of the results
Jon Erik Engeset (CEO) and David Bandele (CFO) will present the results at
08:30 CEST and the presentation will be broadcasted live. The presentation will
be held in English.
Link to webcast: https://hexagongroup.kg5.no/
A recording of the presentation will be made available on www.hexagongroup.com.
Contacts:
Karen Romer, SVP Communications, Hexagon Composites
Telephone: +47 950 74 950 | [email protected]
(mailto:[email protected])
Hiva Ghiri, VP Investor Relations, Hexagon Composites
Telephone: +47 958 66 790 | [email protected]
(mailto:[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. 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.