Hexagon Purus ASA
OSE:HPUR
Hexagon Purus ASA
Hexagon Purus ASA manufactures high pressure vessels and systems. The company is headquartered in Alesund, More Og Romsdal and currently employs 415 full-time employees. The company went IPO on 2020-12-14. The firm operates worldwide.
Hexagon Purus ASA manufactures high pressure vessels and systems. The company is headquartered in Alesund, More Og Romsdal and currently employs 415 full-time employees. The company went IPO on 2020-12-14. The firm operates worldwide.
Q4 Revenue Growth: Q4 2025 revenue rose to NOK 468 million, up 18% year-over-year and 85% from Q3, driven by higher volumes in transit bus, hydrogen distribution, and aerospace.
Full-Year Decline: 2025 full-year revenue dropped by 39% to NOK 1.144 billion, mainly due to softness in hydrogen infrastructure compared to a strong 2024.
Cost & Portfolio Actions: Management took major cost-cutting steps, including a 30% workforce reduction and scaling back the BVI segment; annualized cost savings targeted at NOK 350 million versus 2024.
Aerospace Divestment: The aerospace business was sold to SpaceX to boost liquidity and focus on core operations; order backlog of NOK 728 million still includes aerospace orders.
Improved Liquidity: Positive operating cash flow of NOK 14 million in Q4 for the first time in about three years; cash at year-end was NOK 322 million.
Order Backlog: Entering 2026 with NOK 728 million backlog (92% for 2026 delivery), but management notes that intake is still below breakeven needs.
Outlook: Demand visibility remains limited and the market is uncertain, but cost structure is leaner and several liquidity-improving actions have been taken. Management remains focused on filling the order book and maintaining liquidity.
