Hexagon AB Reports Steady Growth in First Quarter 2024

Hexagon AB Reports Steady Growth in First Quarter 2024

(IN BRIEF) Hexagon AB announces its first-quarter 2024 financial results, demonstrating a 3% organic revenue growth and a 1% increase in net sales compared to the previous year. The company achieved an adjusted gross margin of 66.5% and a 1% increase in adjusted operating earnings (EBIT1), with an operating margin of 29.0%. Earnings per share, both excluding and including adjustments, slightly decreased compared to the previous year. Operating cash flow before non-recurring items significantly increased, reaching 219.4 MEUR, with a cash conversion rate of 88%. Recurring revenue also saw a notable increase of 6% to 520.3 MEUR. Hexagon AB, a global leader in digital reality solutions, continues to leverage sensor, software, and autonomous technologies to drive efficiency, productivity, and safety across various sectors, aiming for a scalable and sustainable future.

(PRESS RELEASE) STOCKHOLM, 26-Apr-2024 — /EuropaWire/ —

First quarter 2024

• 3 per cent organic revenue growth (using fixed exchange rates and a comparable group structure)
• Net sales increased by 1 per cent to 1,299.9 MEUR (1,286.6)
• Net sales including the reduction of acquired deferred revenue amounted to 1,299.9 MEUR (1,285.1)
• Adjusted gross margin of 66.5 per cent (66.5)
• Adjusted operating earnings (EBIT1) increased by 1 per cent to 376.5 MEUR (371.2)
• Adjusted operating margin amounted to 29.0 per cent (28.9)
• Earnings per share, excluding adjustments, amounted to 10.1 Euro cent (10.4)
• Earnings per share, including adjustments, amounted to 8.9 Euro cent (9.1)
• Operating cash flow before non-recurring items increased to 219.4 MEUR (141.5)
• Cash conversion amounted to 88 per cent (66)
• Recurring revenue increased by 6 per cent to 520.3 MEUR (491.5)

This is information that Hexagon AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 08:00 CET on 26 April 2024.

Hexagon is the global leader in digital reality solutions, combining sensor, software and autonomous technologies. We are putting data to work to boost efficiency, productivity, quality and safety across industrial, manufacturing, infrastructure, public sector, and mobility applications.

Our technologies are shaping production and people related ecosystems to become increasingly connected and autonomous – ensuring a scalable, sustainable future.

Hexagon (Nasdaq Stockholm: HEXA B) has approximately 24,500 employees in 50 countries and net sales of approximately 5.4bn EUR. Learn more at hexagon.com and follow us @HexagonAB.

Media Contacts:

Tom Hull
Head of Investor Relations, Hexagon AB
+44 7442 678 437
ir@hexagon.com

Anton Heikenström
Investor Relations Manager, Hexagon AB
+46 8 601 26 26
ir@hexagon.com

SOURCE: Hexagon AB