Hexagon Purus ASA's Preliminary Financial Results for 2024
Hexagon Purus ASA, a leader in the zero emission mobility sector, has announced preliminary unaudited financial estimates for the fourth quarter and entire year of 2024. The company expects to release its complete financial results on 11 February 2025, but here are some key insights into their performance as of now.
Revenue Insights for Q4 and Full-Year 2024
The preliminary figures indicate a Q4 2024 revenue of approximately NOK 396 million, contributing to an anticipated full-year revenue of about NOK 1,876 million. This marks a commendable growth of roughly 42% when compared to the previous year. However, it’s important to note that this growth is slightly below the company’s expectations of at least 50%. The minor shortfall can largely be attributed to delays in the completion of certain customer deliveries, which are now expected to be fulfilled in the following year. Additionally, some customer orders have been postponed from 2024 to 2025.
Understanding EBITDA for the Year
Hexagon Purus forecasts a negative EBITDA of around NOK -104 million for Q4 2024 and an annual EBITDA of NOK -348 million for the entire year. This results in an EBITDA margin of approximately -19% for FY 2024, a notable improvement from the -34% margin reported in FY 2023. This recovery signals the company’s resilience and potential to improve its financial health moving forward.
Looking Ahead: Financial Outlook
The preliminary financial results, while encouraging, are subject to change as they are based on estimates as of this date. Investors and stakeholders are eagerly awaiting the official numbers, which will provide deeper insights into Hexagon Purus’s financial performance and future outlook.
Commitment to Zero Emission Mobility
Hexagon Purus remains dedicated to driving forward zero emission mobility solutions. The company is recognized globally for its development of hydrogen Type 4 high-pressure cylinders and systems, as well as advanced battery systems, catering to a myriad of applications in the vehicle sector. The technology and products created by Hexagon Purus are employed in various fields including light, medium, and heavy-duty vehicles, buses, rail transport, and even aerospace.
Investor Relations Contact
For those seeking additional financial details or wishing to get in touch, Mathias Meidell serves as the Investor Relations Director for Hexagon Purus. You can reach out to him via phone at +47 909 82 242 or via email at mathias.meidell@hexagonpurus.com.
Frequently Asked Questions
What were Hexagon Purus ASA's revenue expectations for 2024?
The company expected at least 50% revenue growth for FY 2024.
What was the reported EBITDA margin for FY 2024?
The EBITDA margin for FY 2024 was approximately -19%, an improvement from -34% in FY 2023.
When will full financial results be published?
Full financial results for Q4 2024 and preliminary full-year 2024 will be published on 11 February 2025.
Who can I contact for more information about Hexagon Purus ASA?
Mathias Meidell, the Investor Relations Director, can be contacted for more information.
What sectors does Hexagon Purus operate in?
Hexagon Purus operates in sectors like transportation, aerospace, and energy solutions focusing on zero-emission technologies.
