Hexagon Composites ASA: Fourth quarter 2024

13 Feb 2025 07:00 CET

13 February 2025: Hexagon Composites (OSE: HEX.OL), world leader in composite
cylinder technology and related systems for storage and transportation of clean
gaseous energy reported revenues of NOK 1 533 million for fourth quarter 2024
(Q4'23: 1 272 million). The reported EBITDA was NOK 257 million (Q4'23: NOK 99
million), resulting in a 17% EBITDA margin (Q4'23: 8%).

"Hexagon Group delivered all-time high revenues and a second consecutive record
-high EBITDA quarter of NOK 257 million in Q4, thanks to robust volumes driving
our profitability," says Philipp Schramm, CEO of Hexagon Composites. "Despite an
overall downturn in freight markets and a slow start to 2024, our team has
executed an impressive second half performance to exit 2024 on record levels."

For 2024, full year revenues were NOK 4 877 (4 526) million, mainly driven by
record high activity in the Mobile Pipeline and Fuel Systems businesses. The
full year EBITDA totaled NOK 637 (366) million.

Outlook

Entering 2025, we see a continued soft North American freight market in the
first half. With the anticipated freight market rebound, and the increased
availability of North American X15N natural gas truck platforms in Q3, we expect
a strong second half of 2025.

In the years ahead, global emissions reductions targets and the economic
competitiveness of natural gas (RNG/CNG) are expected to drive higher volumes
for our Mobile Pipeline and fuel systems businesses. With an expected
accelerated 10x growth of natural gas trucking in North America by 2030.

With our proven track record, market-leading products, state-of-the-art
production facilities and team of industry experts, Hexagon Group is in pole
position to capture growth from 2025 and beyond.

For further details, please see the attached fourth quarter 2024 report and
presentation.

Presentation of the results today at 08:30 am CET
Philipp Schramm, CEO and David Bandele, CFO will present the results at 08:30 am
today. The presentation 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:
https://channel.royalcast.com/hegnarmedia/#!/hegnarmedia/20250213_8

For more information:
David Bandele, CFO, Hexagon Composites
Telephone +47 920 91 483 I david.bandele@hexagongroup.com

Berit-Cathrin Høyvik, Senior Director, Communications, Hexagon Composites
Telephone: +47 988 92 161 | berit-cathrin.hoyvik@hexagongroup.com

About Hexagon Composites ASA
Hexagon delivers safe and innovative solutions for a cleaner energy future. Our
solutions enable storage, transportation, and conversion to clean energy in a
wide range of mobility and industrial applications. Learn more
at?www.hexagongroup.com and follow @HexagonASA on LinkedIn.

More information:
Access the news on Oslo Bors NewsWeb site

638491_HEX_Q4_Report.pdf
638491_HEX_Q4_2024_Presentation.pdf