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Hexagon Composites — Interim / Quarterly Report 2021
Aug 12, 2021
3619_rns_2021-08-12_2d340072-5e72-4509-a26b-5fa9e261843c.html
Interim / Quarterly Report
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Hexagon Composites ASA: Second quarter and half year results 2021
Hexagon Composites ASA: Second quarter and half year results 2021
Hexagon had an active quarter with strong demand and multiple important
?contract awards. Capacity expansion plans underway based on positive outlook.
Highlights in Q2 2021
* Hexagon Agility received orders from major global logistics customer with an
estimated total value of USD 23.7 million (approx. NOK 211 million).
* Hexagon Agility received an order from Estes Express Lines for compressed
natural gas (CNG)/renewable natural gas (RNG) fuel systems with a value of
USD 8 million (approx. NOK 71 million)
* Empresa Municipal de Transporte (EMT) in Madrid announced a tender award of
520 compressed renewable natural gas (RNG) buses. Solaris, Mercedes Benz and
Scania, all customers of Hexagon Agility, will supply the buses to EMT
* Hexagon Agility received order from REV LNG for Mobile Pipeline® modules to
deliver Renewable Natural Gas with an estimated total value of USD 7.8
million (approx. NOK 69 million)
* Hexagon Agility received order from Xpress Natural Gas (XNG) for Mobile
Pipeline® modules to meet growing demand for clean natural gas with an
estimated total value of USD 8 million (approx. NOK 71 million)
* Hexagon Digital Wave signed a contract with a US-based Type 3 composite
cylinder manufacturer to supply Ultrasonic Examination (UE) equipment for
cylinders intended for the aerospace industry
* Hexagon Purus signed a global supply agreement with Air Liquide for supply
of Type 4 hydrogen cylinders used for transport of hydrogen for industry and
mobility
* Hexagon Purus enters partnership with Velocity Vehicle Group supplying 100
zero emission electric medium duty commercial vehicles in California
* Hexagon Purus accelerated its efforts in the zero-emission maritime segment
with the launch of a dedicated maritime business
In the second quarter of 2021, Hexagon (excl.Purus) generated NOK 726 (691)
million in revenues and recorded an operating profit before depreciation
(EBITDA) of NOK 71 (38) million. The top-line growth was 17% before negative
year-over-year foreign currency translation effects of NOK -80 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.
The Hexagon (excl. Purus) results are robust in light of global supply chain
challenges mainly related to the pandemic. These resulted in delayed sales of
NOK 72 million within Hexagon Agility as well as somewhat higher prices of
inbound raw materials and transport costs, mainly affecting Hexagon Ragasco.
In the second quarter of 2021, Hexagon Group, including Hexagon Purus, generated
NOK 788 (683) million in revenues and recorded an operating profit before
depreciation (EBITDA) of NOK 3(19) million.
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 via
https://hexagongroup.kg5.no/. A recording of the presentation will be made
available on www.hexagongroup.com (http://www.hexagongroup.com) after the
presentation.
For more information:
Hiva Ghiri, VP Investor Relations, Hexagon Composites
Telephone: +47 958 66 790 | [email protected]
(mailto:[email protected])
Karen Romer, SVP Communications, Hexagon Composites
Telephone: +47 950 74 950 | [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
This information is subject to the disclosure requirements pursuant to Section
5-12 the Norwegian Securities Trading Act