Hexagon Composites ASA: First quarter 2025
Hexagon Composites ASA: First quarter 2025 |
| [15-May-2025] |
OSLO, Norway, May 15, 2025 /PRNewswire/ -- Hexagon Composites (OSE: HEX.OL), world leader in composite cylinder technology and related systems for storage and transportation of clean gaseous energy reported revenues of NOK 912 million for first quarter 2025 (Q1'24: 945 million). The reported EBITDA was NOK 44 million (Q1'24: NOK 59 million), resulting in a 5% EBITDA margin (Q1'24: 6%). "Despite headwinds, we have delivered a steady performance in the first quarter," says Philipp Schramm, CEO of Hexagon Composites. "We are especially pleased to see the improvement year over year in our fuel systems business, which was largely driven by momentum in the refuse sector." Outlook We are well positioned to navigate the current uncertainty, and there are many things that make us optimistic. Natural gas is gaining momentum as the alternative fuel of choice for fleets. The route to 10x growth from North American natural gas heavy duty trucking by 2030 is achievable. Despite the current macro-economic uncertainty and limited near-term visibility, we are confident in Hexagon's medium- and long-term profitable growth. For further details, please see the attached first quarter 2025 report and presentation. The presentation will also be broadcast live via: https://channel.royalcast.com/landingpage/hegnarmedia/20250515_6/ For more information:
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Company Codes: Bloomberg:HEX@NO, ISIN:NO0003067902, Oslo:HEX, RICS:HEX.OL |
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