In the first quarter of 2020, Hexagon Group generated NOK 825 (822) million in revenues and recorded an operating profit before depreciation (EBITDA) of NOK 37 (150) million. This was driven by solid performances in Hexagon Ragasco LPG, Agility Fuel Solutions and Hexagon Mobile Pipeline. This performance helped to absorb the impacts of the planned production stop of a major customer of Hexagon Purus’ CNG Light-Duty Vehicles business, as well as initial COVID-19 impacts to the Group.
In the first quarter of 2019, EBITDA included the initial net gain on the Agility transaction of NOK 69 million.
The financial impacts of COVID-19 in the first quarter were limited and mostly contained to light duty vehicles and transit bus demand in Europe following temporary manufacturing shutdowns of several leading OEM companies.
The results will be presented at 08:30 CET by CEO, Jon Erik Engeset and CFO, David Bandele.
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For more information:
David Bandele, CFO, Hexagon CompositesTelephone: +47 920 91 483 | firstname.lastname@example.org
Karen Romer, SVP Communications, Hexagon CompositesTelephone: +47 950 74 950 | email@example.com