Q3 2025 Hexagon Composites ASA Earnings Call Transcript
Key Points
- Hexagon Composites ASA (HXGCF) successfully raised NOK590 million to strengthen its balance sheet.
- The company launched a group-wide cost savings program, reducing personal costs by approximately NOK190 million.
- Hexagon Composites ASA formed a strategic partnership with Cummins and Clean Energy to launch Pioneer, an independent leasing company for alternative fuels.
- The refuse sector showed strong performance with continued year-over-year growth in Q3 2025.
- The acquisition of SES Composites is expected to strengthen Hexagon's position in the European transit bus segment.
- Hexagon Composites ASA faced a significant decline in volumes and profitability due to macroeconomic uncertainty and a cyclical downturn.
- Q3 2025 revenues were weak at NOK538 million, with an EBITDA of NOK54 million, impacted by severance costs and market uncertainty.
- The mobile pipeline segment experienced a significant decline in profitability, with revenues of NOK93 million and negative margins of 49%.
- The company is facing challenges in the truck and mobile pipeline segments due to changing trade policies and emissions regulations.
- Hexagon Composites ASA's market exposure is highly cyclical, leading to increased sensitivity to macroeconomic conditions and uncertainty in demand recovery.
Good morning, everyone, and welcome to Hexagon Composites Q3 presentation. My name is [Prith Katrine Havik], and I'll be moderating today's presentation. Joining me in the studio today is our CEO, Philipp Schramm; and CFO, David Bandella.
Today we'll take you through a company update, financials, and outlook before we wrap up with the Q&A session.
And with that, I'll hand the board over to Philipp.
Thank you. Good morning, everyone, and thank you for joining us for our Q3 presentation. Let's start with a high-level summary of the third quarter this year. The macroeconomic uncertainty continues to negatively weigh on our business and our core markets are in a cyclical downturn in combination with an unprecedented macro environment.
This has significantly affected our volumes and our profitability this quarter, and our Q3 results are weak. With group revenues, which came in with NOK538 million. And led to an EBITDA of NOK54 million. August contributed to the
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