Hexagon has reported a 10% hike in its operating net sales and 13% hike in operating earnings for the Q3 2018.
Adjusted quarterly operating earnings grew to 232 million euros ($263.41 million) in the three months ended September 30, up from 205 million euros a year earlier.
Organic sales for the group rose 8 percent, versus the 9 percent growth achieved in the second quarter and higher than the mean forecast for a 6.6 percent increase.
The growth has boosted mainly due to a strong demand in China and western Europe.
Organic sales for the group rose 8 percent, versus the 9 percent growth achieved in the second quarter and higher than the mean forecast for a 7 percent increase.
“We continue to report strong results, recording 8 percent organic growth and further expanded the operating margin to 24.5 percent in the third quarter. Organic growth in the Manufacturing Intelligence division accelerated to 12 percent, driven by solid demand from the electronics and aerospace industry, continued strength in China and good growth in the software portfolio, said Ola Rollen, President and CEO, Hexagon AB
He further added that “The Geosystems division delivered another impressive quarter, with 11 percent organic growth stemming from strength in infrastructure and construction, the content programme and new product introductions. The underlying recovery in power and energy continued, with the PPM division recording 6 percent organic growth, supported by new perpetual license orders in construction and lifecycle management solutions. The public safety segment, Safety & Infrastructure, experienced another challenging quarter, mainly due to weak demand in US defense. Actions have been taken to ensure improvement in 2019”.
Western Europe and China together account for more than half of Hexagon’s sales.
Its North America business weighed on overall growth with a 4 percent organic rise.
