Hexagon has released Interim Report for January 1 – September 30, 2020 (third quarter).
Key highlights
– Net sales decreased by -2 per cent to 939.9 MEUR (956.3). Using fixed exchange rates
and a comparable group structure (organic growth), net sales was unchanged by 0 per cent
– Operating earnings (EBIT1) increased by 6 per cent to 250.1 MEUR (235.8)
– Earnings before taxes, excluding non-recurring items, amounted to 242.2 MEUR (229.3)
– Net earnings, excluding non-recurring items, amounted to 198.6 MEUR (188.0)
– Earnings per share, excluding non-recurring items, amounted to 0.53 EUR (0.51)
– Operating cash flow increased to 191.2 MEUR (167.5)
– The Board of Directors proposes a dividend of 0.62 EUR (0.59) per share for the fiscal year 2019
“We are pleased with the results, having delivered our best third-quarter earnings and profitability ever despite the significant currency headwind. We’ve been able to navigate a challenging environment with great resilience – adapting the cost structure by implementing short-term and long-term cost savings measures and at the same time expanding our gross margin through a richer product mix. We saw a robust sequential improvement in sales growth, supported by a broad-based recovery in China and a solid development in our geospatial segments. What we call the “two-speed world” has never been as evident as it is today, where our newer automation applications in construction, mining, public safety and agriculture are growing, while certain sectors such as traditional automotive, aerospace and oil and gas are still facing a tough demand situation. The increased focus on a low carbon economy is also apparent, where we see our applications within renewable energy, electric vehicles and rail gaining traction. The Board of Directors has decided to propose a dividend of 0.62 EUR per share for the fiscal year 2019, and an extraordinary general meeting will be held on 1 December. Our strong cash flow and financial position enables us to continue investing in the future, increasing shareholder value and delivering revolutionary solutions that drive efficiency, productivity and quality for our customers.“ – Ola Rollén, President and CEO, Hexagon AB
More details here.
