Q2 2025 Hexagon Purus ASA Earnings Call Transcript
Key Points
- Strong order intake in recent months across the product portfolio, improving demand visibility for the second half of 2025.
- Expanded relationship with Hino to supply Class 6 and 7 battery-electric trucks for the North American market.
- Cost reduction program expanded by NOK150 million to a total of NOK350 million to lower the breakeven point.
- Significant increase in volume expected in the second half of the year, supported by a stronger order backlog.
- Aerospace business shows positive revenue impact with increasing launch activity in the US market.
- Q2 2025 revenue was 63% lower than the same period last year, driven by lower deliveries of hydrogen distribution modules.
- EBITDA was negative NOK161 million in Q2, impacted by lower revenue and nonrecurring items.
- Hydrogen distribution revenue was only 6% of total revenue in Q2, with weak demand in the first half of 2025.
- Significant reduction in hydrogen infrastructure revenue, down 95% year over year.
- Cash outflow in the first half of the year was significant, driven by lower revenue and restructuring costs.
Hi, and welcome to Hexagon Purus Q2 2025 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'm 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 the Q&A session, so please feel free to enter your questions via the function on your screen.
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 joining our webcast today on what turns out to be a beautiful summer day here in Oslo.
So let's look at the key developments in the second quarter. Number one, the second quarter was weak, 44% lower than
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