OSLO, Norway, May 15, 2025 /PRNewswire/ -- Hexagon Composites (OSE: HEX.OL), world leader in composite cylinder technology and related systems for storage and transportation of clean gaseous energy reported revenues of NOK 912 million for first quarter 2025 (Q1'24: 945 million). The reported EBITDA was NOK 44 million (Q1'24: NOK 59 million), resulting in a 5% EBITDA margin (Q1'24: 6%).
"Despite headwinds, we have delivered a steady performance in the first quarter," says Philipp Schramm, CEO of Hexagon Composites. "We are especially pleased to see the improvement year over year in our fuel systems business, which was largely driven by momentum in the refuse sector."
Outlook
We are well positioned to navigate the current uncertainty, and there are many things that make us optimistic.
Natural gas is gaining momentum as the alternative fuel of choice for fleets. The route to 10x growth from North American natural gas heavy duty trucking by 2030 is achievable.
Despite the current macro-economic uncertainty and limited near-term visibility, we are confident in Hexagon's medium- and long-term profitable growth.
For further details, please see the attached first quarter 2025 report and presentation.
Presentation of the results today at 08:30 am CET
Philipp Schramm, CEO and David Bandele, CFO will present the results at 08:30 am today. The presentation will be held in the Auditorium at Hexagon's location in Oslo, Haakon VIIs gate 2, on the lower level.
The presentation will also be broadcast live via: https://channel.royalcast.com/landingpage/hegnarmedia/20250515_6/
For more information:
David Bandele, CFO, Hexagon Composites
Telephone +47 920 91 483 I david.bandele@hexagongroup.com
Berit-Cathrin Høyvik, Senior Director, Communications, Hexagon Composites
Telephone: +47 988 92 161 | berit-cathrin.hoyvik@hexagongroup.com
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 and industrial applications. Learn more at?www.hexagongroup.com and follow @HexagonASA on LinkedIn.
This information was brought to you by Cision http://news.cision.com
https://news.cision.com/hexagon-composites-asa/r/hexagon-composites-asa--first-quarter-2025,c4150758
The following files are available for download:
https://mb.cision.com/Main/22853/4150758/3450408.pdf | HEX Q1 2025 Report |
https://mb.cision.com/Public/22853/4150758/8ed34c06d1a72ec2.pdf | HEX Q1 2025 Presentation |
View original content:https://www.prnewswire.co.uk/news-releases/hexagon-composites-asa-first-quarter-2025-302456245.html
