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Hexagon Composites — Earnings Release 2021
May 11, 2021
3619_rns_2021-05-11_970957ea-b584-4efe-b012-bba640c4fa6c.html
Earnings Release
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Hexagon Purus ASA: Results for the first quarter 2021
Hexagon Purus ASA: Results for the first quarter 2021
In the first quarter of 2021, Hexagon Purus Group generated NOK 57 (48) million
in revenue and recorded operating profit before depreciation (EBITDA) of NOK -62
(-43) million. Revenue growth was driven by increased activity in hydrogen
distribution applications as well as aerospace with slightly lower revenue
contribution from heavy duty vehicle applications due to the completion of a
battery electric (BEV) truck demonstration program in Q1 2020.
Continued investments in personnel and infrastructure to support and accelerate
Hexagon Purus' future growth drive negative profitability.
Key developments
* Signed joint venture agreements with CIMC Enric in March 2021 to enter China
which is expected to be the world's largest zero emission hydrogen vehicle
and distribution market
* Signed a multi-year agreement (as part of a broader agreement together with
Hexagon Agility encompassing CNG solutions) to supply hydrogen distribution
modules to Certarus. Under the agreement, Hexagon Purus received an initial
order for SMARTSTORE® hydrogen distribution modules with an estimated value
of USD 3.2 million
* Hexagon Purus received multiple orders for several leading European gas
distributors for X-STORE 300 bar cylinders and for its new X-STORE 381 bar
version with a total estimated value of EUR 1.9 million. These cylinders
will be used for transportation of hydrogen for industrial and mobility
purposes
* New Flyer, North America's largest mass mobility solutions provider, placed
an order with Hexagon Purus for the supply of high-pressure hydrogen tanks
for their zero-emission Xcelsior CHARGE H2(TM) hydrogen fuel cell electric
transit buses. The contract value is approximately NOK 7.7 million and
deliveries commenced in Q1 2021
* Selected by Talgo S.A., a leading manufacturer of intercity, standard and
high-speed passenger trains, to deliver high pressure cylinders for its
first prototype hydrogen train. The cylinders are expected to be delivered
in the second half of 2021
* Selected to deliver a 700 bar hydrogen fuel storage system for a
demonstration project to develop a fuel cell powered construction machine
* Hexagon Purus signed a long-term agreement with Nikola Corporation, a global
leader in zero-emissions transportation and infrastructure solutions to
develop and supply its high-performance type 4 hydrogen cylinders. The scope
of the agreement is over a multi-year period with an estimated sales value
in excess of EUR 200 million
* Hexagon Purus signed a contract with Wystrach GmbH, a leading systems
provider for high pressure solutions,to supply Type 4, 300 bar pressure
vessels at a value of approximately EUR 2.5 million. The cylinders are
destined for industrial and mobility applications in France and Germany.
Presentation of the results:
Morten Holum (CEO) and Dilip Warrier (CFO) will present the results at 08:30
CEST.
Follow the presentation here: https://hexagonpurus.kg5.no/
A recording of the presentation will be published on www.hexagonpurus.com
(http://www.hexagonpurus.com) after the presentation.
For more information:
Salman Alam, Vice President, Corporate Development, Hexagon Purus
Telephone: +47 476 12 713| [email protected]
Dilip Warrier, CFO, Hexagon Purus
Telephone: +1 949-236-5528 | [email protected]
(mailto:|%[email protected])
About Hexagon Purus ASA:
Hexagon Purus, a Hexagon Composites company, enables zero emission mobility for
a cleaner energy future. Hexagon Purus is a world leading provider of hydrogen
type 4 high-pressure cylinders, complete vehicle systems and battery packs for
fuel cell electric and battery electric vehicles (FCEV and BEV) including hybrid
mobility applications on light, medium and heavy-duty vehicles, transit buses,
ground storage, distribution, maritime, rail, and aerospace applications.
For more information, please visit www.hexagonpurus.com
(http://www.hexagonpurus.com) and follow @HexagonPurus on LinkedIn and Twitter.