Hexagon Composites ASA: Annual Report 2019

Wed 03, 2020 - Stock Exchange Release

The Board of Directors of Hexagon Composites ASA (OSE:HEX) has approved the Annual Report for 2019 and the Final Accounts for 2019.

Reported Hexagon Group revenues for the year 2019 increased by 130% to NOK 3,416.1 million compared with 1,486.5 million in 2018 and reported EBITDA was NOK 359.7 (234.5) million. The underlying organic revenue growth was 19%. This was primarily driven by strong performances in Agility Fuel Solutions, which has been consolidated after the acquisition on 4 January 2019, and Hexagon Purus’ CNG Light-Duty Vehicles business. The acquisition of Agility entailed a one-off EBITDA impact for the full year of NOK 44.2 million. This incorporated a net accounting gain of NOK 69.4 million less other transaction related charges of NOK 25.2 million.

The COVID-19 pandemic outbreak has not had any significant impact on the Hexagon business units so far, but this might change if the pandemic crises escalates.

The Board does not propose a dividend for 2019.

To learn more, please visit Hexagon's annual report 2019 at: www.hexagongroup.com

The General Meeting is scheduled for Wednesday 22 April 2020 in accordance with the financial calendar. Notice of General Meeting and the agenda with attachments will be published through Oslo Stock Exchange and Hexagon’s website.

For more information:
David Bandele, CFO, Hexagon Composites ASA
Telephone: +47 920 91 483 | [email protected]

Hiva Ghiri, Vice President Investor Relations, Hexagon Composites ASA
Telephone: +47 958 66 790 | [email protected]

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.

Learn more at www.hexagongroup.com and follow @HexagonASA on Twitter and LinkedIn

This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act