Hexagon Composites ASA
HEX
ISIN NO0003067902 / Valor 565936
Hexagon Composites ASA
UMushroom community rating:
About company
Hexagon Composites ASA is a global company headquartered in Norway with a strong global footprint, including 23 international locations in key clean energy markets. The company is organized into four business areas: Hexagon Agility, Hexagon Ragasco, Hexagon Digital Wave, and Hexagon Purus, each leading in their respective segments and driving the energy transition with a range of clean energy solutions.
Summarized from source with an LLMView SourceSector: IndustrialsLatest Results (07.08.2024):
Revenue Growth
Hexagon Composites ASA reported revenues of NOK 5.2 billion for the full year 2023, a significant increase from NOK 4.3 billion in the previous year. For the fourth quarter of 2023, the company delivered revenues of NOK 1,437 million, up from NOK 1,276 million in the same period of 2022.
EBITDA Performance
The company's EBITDA for the full year 2023 totaled NOK 480 million, compared to NOK 348 million in 2022. In the fourth quarter of 2023, Hexagon Composites ASA achieved an EBITDA of NOK 126 million, an improvement from NOK 105 million in the fourth quarter of 2022.
Impairment Charge
In the fourth quarter of 2023, Hexagon Composites ASA recorded a one-off, non-cash impairment charge of NOK 702 million related to its equity investment in Hexagon Purus. This impairment was driven by the negative share price development of Hexagon Purus in the second half of 2023.
Profit After Tax
For the full year 2023, Hexagon Composites ASA reported a profit after tax of NOK 1,136 million. This was primarily due to improved operational performance and a NOK 2,351 million gain from the deconsolidation of Hexagon Purus in June 2023.
Outlook
Looking forward, Hexagon Composites ASA anticipates continued strong growth in the Renewable Natural Gas-driven Mobile Pipeline business. The upcoming launch of Cummins’ new 15-liter natural gas engine is expected to significantly expand the market for natural gas fuel systems in North America. Additionally, the company expects renewed growth in the LPG cylinder business and further strong growth in the high-pressure cylinder testing and requalification business.
Summarized from source with an LLMView SourceKey figures
Performance
Volatility
803 M
Market cap (USD)
835,423
Daily traded volume (Shares)
43.85 / 42.4
1 day high/low (USD)
52 weeks high/low (USD)
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EPS (USD)
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Ratings & reviews
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