Hexagon Purus delivered robust year-over-year revenue growth in Q3 2022 coupled with continued strong commercial momentum in hydrogen distribution applications.
Q3 2022 highlights:
In the third quarter of 2022, Hexagon Purus Group (“the Company”) generated NOK 222 (103) million in revenue and recorded operating profit before depreciation (EBITDA) of NOK -92 (-80) million. Revenue growth of 115 % was driven by the acquisition of Wystrach which contributed NOK 143 million in sales.
Continued investments in personnel and infrastructure to support and accelerate Hexagon Purus’ future growth drive negative profitability. Additionally, the Group has been subject to inflationary pressure in the cost of its key inputs which is being addressed through offsetting pricing actions as well as cost reduction efforts.
Key developments after balance sheet date:
Presentation of the results:
Hexagon Purus will present the Q3 2022 results at 08:30 CET and the presentation will be broadcasted live via https://hexagonpurus.kg5.no/.
The presentation will be held in English and be virtual. Recording of the presentation will be made available on www.hexagonpurus.com.
For more information:
Mathias Meidell, IR Director, Hexagon Purus ASA
Telephone: +47 909 82 242 | mathias.meidell@hexagonpurus.com
Dilip Warrier, CFO, Hexagon Purus ASA
Telephone: +1 949-236-5528 | dilip.warrier@hexagonpurus.com
About Hexagon Purus ASA
Hexagon Purus, a Hexagon Composites company, enables zero emission mobility for a cleaner energy future. The company is a world leading provider of hydrogen Type 4 high-pressure cylinders and systems, battery systems and vehicle integration solutions for fuel cell electric and battery electric vehicles. Hexagon Purus' products are used in a variety of applications including light, medium and heavy-duty vehicles, buses, ground storage, distribution, refueling, maritime, rail and aerospace.
Learn more at www.hexagonpurus.com and follow @HexagonPurus on Twitter and LinkedIn.
This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act
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