Hexagon Composites ASA
OSE:HEX

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Hexagon Composites ASA
OSE:HEX
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Price: 7.49 NOK -3.23% Market Closed
Market Cap: 1.9B NOK

Hexagon Composites ASA
Investor Relations

Hexagon Composites ASA engages in developing and commercializing competitive, innovative products and solutions. The company is headquartered in Alesund, More Og Romsdal and currently employs 1,505 full-time employees. The firm enables the safe delivery of clean energy in gaseous form to homes and industries and decarbonizes transportation on land and at sea. Hexagon is organized into four business areas: Hexagon Agility, Hexagon Ragasco, Hexagon Digital Wave and Hexagon Purus. Hexagon Agility is a global provider of clean fuel solutions for commercial vehicles and gas transportation solutions. Hexagon Ragasco is the manufacturer of composite liquefied petroleum gas (LPG) cylinders for leisure, household and industrial applications. Hexagon Digital Wave is engaged in cylinder testing and monitoring technologies, offering solutions that reduce down-time and inspection costs while improving inspection accuracy. Hexagon Purus is offers solutions within key technologies needed for zero emission mobility.

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Last Earnings Call
Fiscal Period
Q3 2025
Call Date
Nov 6, 2025
AI Summary
Q3 2025

Weak Q3 Results: Hexagon reported Q3 revenue of NOK 538 million and an EBITDA loss of NOK 54 million, citing macroeconomic uncertainty and a cyclical downturn in core markets.

Equity Raise & Liquidity: The company raised NOK 590 million in equity and launched a cost savings program to strengthen its balance sheet and secure liquidity.

Cost Cutting Measures: Personnel costs were reduced by approximately NOK 190 million on an annualized basis, with further cost and cash savings initiatives ongoing.

Market Headwinds: Truck and Mobile Pipeline segments were hit hardest by market uncertainty, tariffs, and regulatory changes, while Refuse and Transit remained more resilient.

Strategic Moves: New partnerships (e.g., with Cummins and Clean Energy for Pioneer), a demo truck program, and the acquisition of SES Composites aim to drive future growth and market adoption.

Outlook: Management expects Q4 to improve over Q3, but visibility into 2026 remains limited. The company remains confident in long-term growth and CNG adoption.

Key Financials
Revenue
NOK 538 million
EBITDA
negative NOK 54 million
Equity Raised
NOK 590 million
Personnel Cost Reduction
NOK 190 million annualized
Headcount Reduction
20%
Fuel Systems Segment Revenue
NOK 372 million
Mobile Pipeline Segment Revenue
NOK 93 million
Mobile Pipeline EBITDA Margin
negative 49%
Aftermarket Segment Revenue
NOK 97 million
Aftermarket EBITDA Margin
8%
CapEx
NOK 43 million (Q3)
Working Capital Reduction Target
NOK 150–200 million (by H1 2026)
Total Facility (Bank Financing)
NOK 2 billion (reduced from NOK 2.2 billion)
Minimum Liquidity Requirement
NOK 200 million
Earnings Call Recording
Other Earnings Calls

Management

Mr. Jon Erik Engeset
Chief Executive Officer
No Bio Available
Mr. David Bandele A.C.A.
Chief Financial Officer
No Bio Available
Mr. Hans Peter Havdal M.Sc.
Group Chief Operating Officer
No Bio Available
Ms. Karen Romer
Senior Vice President of Communications
No Bio Available
Mr. Skjalg Sylte Stavheim
President of Hexagon Ragasco
No Bio Available
Mr. Rick Rashilla
Senior Vice President of Sustainability
No Bio Available
Mr. Morten Holum
CEO & President of Hexagon Purus
No Bio Available
Mr. George Siedlecki
Acting President Digital Wave
No Bio Available
Mr. Gunnar Engkrog
Head of Group Accounting
No Bio Available
Ms. Ingrid Aarsnes
Vice President of Investor Relations & ESG
No Bio Available

Contacts

Address
MORE OG ROMSDAL
Alesund
Korsegata 4B
Contacts
+4770304450.0
hexagongroup.com