Business
Hexagon Purus ASA: Results for the first quarter 2025
Key developments in Q1 2025 and after balance sheet date: Quarterly revenue of NOK 230 million in the first quarter of 2025, 44% lower compared to same quarter last year; EBITDA of NOK -242 million in the first quarter of 2025, compared to NOK -97 million in the same period last year. EBITDA in the quarter was negatively affected by approximately NOK 65 million of restructuring costs and other non-recurring items;Received first orders from Egyptian company MCV for delivery of hydrogen fuel stora
About this update from Hexagon Purus Asa
[{"type":"image","alt":"Hexagon Purus ASA","displaySize":"","headline":null,"caption":"Hexagon Purus ASA","className":"","disableSlideshowImg":false,"size":{"original":{"width":300,"height":170,"url":"https://media.zenfs.com/en/globenewswire.com/ef359785bcea09d9dce7383ad71d7a3c"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/c2iCga.E4rVEe8y9JHtzpA--/YXBwaWQ9aGlnaGxhbmRlcjt3PTQyMDtoPTIzODtjZj13ZWJw/https://media.zenfs.com/en/globenewswire.com/ef359785bcea09d9dce7383ad71d7a3c","width":300,"height":170}},"lazy":false},{"type":"text","content":"Key developments in Q1 2025 and after balance sheet date:","length":62,"tagName":"p"},{"type":"text","content":"Quarterly revenue of NOK 230 million in the first quarter of 2025, 44% lower compared to same quarter last year;","length":112,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"EBITDA of NOK -242 million in the first quarter of 2025, compared to NOK -97 million in the same period last year. EBITDA in the quarter was negatively affected by approximately NOK 65 million of restructuring costs and other non-recurring items;","length":246,"tagName":"p"}]},{"val":[{"type":"text","content":"Received first orders from Egyptian company MCV for delivery of hydrogen fuel storage systems for FCEV buses targeted for the European public transportation market;","length":164,"tagName":"p"}]},{"val":[{"type":"text","content":"Signed multi-year agreement with Stadler for delivery of hydrogen fuel storage systems for hydrogen rail applications in California;","length":132,"tagName":"p"}]},{"val":[{"type":"text","content":"CIMC-Hexagon, the Company’s joint venture in China, produced its first commercial hydrogen cylinders in its facility in Shijiazhuang intended for the European market;","length":166,"tagName":"p"}]},{"val":[{"type":"text","content":"Exited the quarter with order backlog consisting of firm purchase orders of NOK 792 million.","length":92,"tagName":"p"}]}],"tagName":"ul","bulletedList":true,"length":800,"olType":false},{"type":"text","content":"“The start of 2025 has been challenging for Hexagon Purus, for the renewables sector and for zero-emission mobility. We entered the quarter with an uncertain demand outlook and a market sentiment that had weakened significantly following the US presidential election. The subsequent announcement of a shift in policy from the new US administ...