February 12, 2020
In the fourth quarter of 2019 Hexagon Group generated NOK 942.0 (426.8) million in revenues and recorded an operating profit before depreciation (EBITDA) of NOK 99.1 (55.2) million. This was driven by strong performances in Agility Fuel Solutions and Hexagon Purus’ CNG Light-Duty Vehicles business as well as Hexagon Ragasco. In the fourth quarter of 2019 depreciation and amortization increased to NOK 62.6 (35.9) million, primarily related to the inclusion of both tangible and intangible amortization from the Agility acquisition.
In the fourth quarter of 2018, EBITDA included a positive impact of NOK 18.4 million from a reversal of an earn-out obligation related to the xperion acquisition in 2016.
Reported Hexagon Group revenues for the year 2019 increased by 130% to NOK 3,416.2 million compared with 1,486.5 million in 2018 and reported EBITDA was NOK 360.7 (234.5) million. This was primarily driven by strong performances in Agility Fuel Solutions, which has been consolidated entirely after the acquisition on 4 January 2019, and Hexagon Purus’ CNG Light-Duty Vehicles business. The acquisition of Agility entailed a total profit impact for the full year of NOK 44.2 million. EBITDA for the year 2018 included a positive impact of NOK 108.5 million related to a reversal of an earn-out obligation related to the xperion acquisition.
For more information
Jon Erik Engeset, CEO, Hexagon Composites ASATelephone: +47 916 30 550 | email@example.com
David Bandele, CFO, Hexagon Composites ASATelephone: +47 920 91 483 | firstname.lastname@example.org
Hiva Ghiri, VP Investor Relations, Hexagon Composites ASATelephone: +47 958 66 790 | email@example.com
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
Follow us on Twitter: @HexagonASA
This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act