Q3 2024 Hexagon Purus ASA Earnings Call Transcript
Key Points
- Hexagon Purus ASA (HPURF) reported a record quarterly revenue of NOK544 million, marking a 43% year-over-year increase.
- The company successfully raised NOK1 billion in equity, providing financial runway until achieving positive EBITDA and cash flow.
- Hexagon Purus ASA (HPURF) signed multiyear agreements with major bus OEMs, Gillig and New Flyer, strengthening its market position in North America.
- The hydrogen mobility and infrastructure segment reported positive EBITDA for the second consecutive quarter, indicating improved profitability.
- The company has completed its capacity expansion program, allowing for significant growth without major new capital investments.
- The EBITDA margin remains negative at minus 9%, despite improvements, indicating ongoing profitability challenges.
- The order backlog is lower compared to the previous year, raising concerns about future revenue visibility.
- There is uncertainty surrounding the impact of Donald Trump's election on renewable energy policies, which could affect the company's market environment.
- The battery and vehicle integration segment is still in a ramp-up phase, with limited revenue generation and high costs.
- Working capital has been a significant cash drain due to inventory buildup and prepayments, impacting cash flow.
Hi, and welcome to Hexagon Purus Q3 2024 presentation. My name is Mathias Meidell, and I am the IR Director of Hexagon Purus. I will be moderating from the studio in Oslo and from the studio. I am also joined by Group CEO Morten Holum; and group CFO Salman Alam.
The agenda for today includes as usual the highlights from the quarter, a company update, the financials and the outlook. We will end the presentation with a Q&A session. So please feel free to enter your question via the function on your screen.
And so with that, I will pass the word over to you, Morten who will take us through the highlights of the quarter.
Thank you, Mathias and good morning, everyone. Thanks for tuning into our webcast this morning. The key figures have been out for a while since they were made public as part of the equity raise we did at the end of October. So it should be no surprise that we continue our
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