February 16, 2021
In the fourth quarter of 2020, Hexagon Purus’ (“the Company”) e-mobility business generated NOK 33 (73) million in revenues and recorded an operating profit before depreciation (EBITDA) of NOK -52 (-38) million. Revenues included deliveries to and/or milestone payments from five heavy-duty OEM/tier 1 customers and two aerospace customers. Approximately NOK 10 million of revenue expected in the fourth quarter of 2020 was pushed into the first quarter of 2021, mainly due to temporary supply chain delays.
Reported Hexagon Purus e-mobility revenue for the year 2020 decreased by 15% to NOK 180 million compared with NOK 211 million and reported EBITDA was NOK -141 (-143) million. The decrease in revenue for the quarter and year was primarily due to the completion of a heavy-duty BEV truck demonstration program started in 2019, partially offset by contribution from new heavy duty OEM projects and a new aerospace program. Continued investments in personnel and infrastructure to support and accelerate Hexagon Purus’ development drive negative profitability.
Key developments in the quarter
Presentation of the results
Morten Holum (CEO) and Dilip Warrier (CFO) will present the results at 08:30 CET and the presentation will be broadcasted live. The presentation will be held in English.
Link to webcast: https://hexagonpurus.kg5.no/.
A recording of the presentation will be made available on www.hexagonpurus.com after the presentation.
Salman Alam, Vice President Corporate Development, Hexagon PurusTelephone: +476 12 713 | firstname.lastname@example.org
Dilip Warrier, CFO, Hexagon PurusTelephone: +1 (949) 236-5528 | email@example.com
About Hexagon PurusHexagon Purus, a Hexagon Composites company, is a world leading provider of hydrogen type 4 high-pressure cylinders, battery packs and vehicle systems integration for fuel cell electric and battery electric vehicles. Hexagon Purus enables zero emission solutions for light, medium and heavy-duty vehicles, buses, ground storage, distribution, maritime, rail, aerospace and backup power solutions.
For more information, please visit www.hexagonpurus.com
This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act