Hexagon Composites ASA: Invitation to Fourth Quarter 2024 Results

Hexagon Composites ASA, a world leader in composite cylinder technology and related systems for storage and transportation of clean gaseous energy, has announced its invitation to the fourth quarter 2024 results presentation. The event is scheduled for February 13, 2025, at 08:30 am CET, and will be held in the Auditorium at Hexagon's location in Oslo, Haakon VIIs gate 2, on the lower level. The presentation will also be broadcast live via .

The company's recent financial performance has been impressive, with record-high EBITDA of NOK 184 million in Q3 2024, a 15% EBITDA margin (Q3 2023: 10%). This significant improvement in EBITDA was driven by operational efficiency improvements and increased heavy-duty truck activity in Hexagon Agility's fuel systems business. The company's revenue for Q3 2024 was NOK 1,250 million, a 9% increase compared to the same period in 2023 (Q3'23: 1,148 million).

Hexagon Composites' strong financial performance can be attributed to several key drivers, including increased demand for clean energy solutions, expanding order book and new customers, capacity expansion, successful acquisitions and divestments, and operational efficiency improvements. These factors are sustainable in the long term, as they are driven by global trends such as the increasing demand for clean energy, the economic competitiveness of renewable natural gas (RNG) and compressed natural gas (CNG), and customers' decarbonization targets.

Investors and stakeholders can expect the company to provide an update on its financial performance, strategic initiatives, and growth prospects during the fourth quarter 2024 results presentation. The presentation will be led by Philipp Schramm, CEO, and David Bandele, CFO, who will discuss the company's recent achievements and future outlook.

Hexagon Composites' valuation is higher compared to its peers in the industrial sector, with an adjusted EV/EBIT multiple of 20x for 2024e and 17x for 2025e. However, the company's higher valuation is justified by its strong fundamentals, growth prospects, and focus on alternative fuels and high-pressure industrial gases. The company's recent rise in share price has weakened the risk/reward ratio, but its fundamentals and growth prospects remain strong.

In conclusion, Hexagon Composites ASA's invitation to the fourth quarter 2024 results presentation offers investors and stakeholders an opportunity to gain insights into the company's recent financial performance, strategic initiatives, and growth prospects. The company's strong fundamentals, sustainable growth drivers, and commitment to clean energy solutions position it well for continued success in the decarbonization and sustainability trends.