Hexagon Composites Asa · OSL:HEX
Hexagon Composites Asa — Hexagon Composites Ord — Q2 2026 Earnings Presentation
28 slides from Hexagon Composites Asa's earnings presentation, Aug 6, 2026
Slide 1: Q2 2026
Q2 2026 Philipp Schramm, CEO Eirik Løhre, CFO 6 August 2026
Slide 2: Disclaimer and important notice
Disclaimer and important notice This company presentation (the “Presentation”) has been prepared by Hexagon Composites ASA (“Hexagon” or the “Company”) . The Presentation has not been reviewed or registered with, or approved by, any public authority, stock exchange or regulated market place . The Co
Slide 3: Company update
Company update Q2 2026
Slide 4: Strengthening market position with disciplined execution and new opportunities
Key developments Strengthening market position with disciplined execution and new opportunities Improved profitability Executed a NOK 650m Awarded largest Secured exclusive – cost base reduction equity raise and Mobile Pipeline order global long - term program successfully amended bank to date, USD
Slide 5: Delivered improved profitability from steady revenues
Q2 2026 Delivered improved profitability from steady revenues Revenue EBITDA EBITDA margin NOK 627 million NOK 69 million 11% ▼7% ▲57m ▲9pp (NOK 674m) (NOK 12m) (2%) 5 Comparisons to prior year (Q2 2025); margin changes are presented in percentage points (pp).
Slide 6: Successfully completed cost base reduction program
Key developments Successfully completed cost base reduction program Delivered what we set out to achieve in 2025, and structurally improved our cost base and profitability ✓ 25% headcount reduction through 2025 ✓ NOK ~260m reduction in personnel and SG&A costs (NOK ~120m structural) 1 ✓ NOK ~60m cor
Slide 7: Executed an equity raise to strengthen financial flexibility
Key developments Executed an equity raise to strengthen financial flexibility NIBD (NOKm ) • Raised NOK 650 million, including proceeds from subsequent offering 1,262 576 Q1 2026 1 Q2 2026 • Amended bank facilities with extended maturity pro - forma 2 • Relaxation of leverage covenants through Q3 20
Slide 8: Largest Mobile Pipeline order to date received
Key developments Largest Mobile Pipeline order to date received, opening up service delivery to data center market • USD 100 million order secured from long - term customer Certarus • Additional option up to USD 25 million by 2028 • Data center power generation emerges as a meaningful new demand dri
Slide 9: Secured exclusive long-term agreement with IVECO BUS
Key developments Secured exclusive long - term agreement with IVECO BUS • Three - year exclusive agreement with IVECO BUS, the European leader in natural gas commercial vehicles • Covering fuel systems and Type 4 carbon fiber cylinders across IVECO’s global CNG bus range • Estimated full year 2026 r
Slide 10: Financials
10 Financials Q2 2026 HEXAGON
Slide 11: Group consolidated
Q2 2026 results Group consolidated Revenue (NOKm ) Financial highlights • Revenue of NOK 627m for the quarter, and NOK 1,296m for the first half of 2026 o Steady top line q/q, adjusted for FX o Strong quarter by Fuel Systems, driven by transit volumes, aerospace 1 and selected truck customers o Mute
Slide 12: Fuel Systems
Q2 2026 results Fuel Systems Revenue (NOKm ) Financial highlights • Revenues of NOK 450m for the quarter, and NOK 866m for the first half of 2026 o Strong seasonal performance; the best quarter since Q4 2024, adjusted for FX effects 1 o Transit bus remains solid, including higher volumes from Kassel
Slide 13: Mobile Pipeline
Q2 2026 results Mobile Pipeline Revenue (NOKm ) Financial highlights • Revenues of NOK 101m for the quarter, and NOK 285m for the first half of 2026 o Very soft quarter in North America, partly due to timing effects o Europe delivered improved revenues from new RNG - driven projects in the UK and Ir
Slide 14: Aftermarket
Q2 2026 results Aftermarket Revenue (NOKm ) Financial highlights • Revenues of NOK 98m for the quarter, and NOK 187m for the first half of 2026 o Parts & Services revenue remaining relatively stable helped by conquest growth from smaller fleets while larger fleets continue to extend service interval
Slide 15: Cash flow development
Q2 2026 results Cash flow development EBITDA to change in cash (NOKm ) WC breakdown NOK Inventory: - 140m Acc. Receivable: +60m Acc. Payable: +98m Prepayments: +11m Other WC/ accruals : +29m 1 15 1) Not including proceeds from subsequent offering completed in July, NOK 102m
Slide 16: Balance sheet
Q2 2026 results Balance sheet Assets (NOKm ) Equity and Liabilities (NOKm ) NIBD NOK 678m (NOK 576m incl . repair offering ) Available liquidity NOK 694m (NOK 796m incl . repair offering ) Equity ratio 57% (58% incl . repair offering ) Net working capital NOK 1,062m 16
Slide 17: Outlook
Outlook
Slide 18: Market dynamics shifting, with improving underlying trends
Updated 2026 outlook Market dynamics shifting, with improving underlying trends Challenges Drivers & Opportunities − Short - term demand slowdown in the • Improving order intake supported by new Middle East Certarus order Mobile Pipeline − Competition from low - cost players in • Tightening supply -
Slide 19: Raising full year guidance
Updated 2026 outlook Raising full year guidance • Based on current visibility, revenue is expected to be moderately above 2025 levels • Commercial pipeline and order book has improved EBITDA around NOK 300m significantly, however risk related to execution timing for the year expected, • Some near -
Slide 20: Confirmed demand for Mobile Pipeline solutions to power data centers
Mobile Pipeline Confirmed demand for Mobile Pipeline solutions to power data centers • Data centers (gas - to- power) now represent a new high growth end market for Mobile Pipeline • High commercial interest and activity • New TITAN 510 technology innovation enabling Mobile Pipeline to support highe
Slide 21: CNG payback improving alongside market recovery
Truck North America CNG payback improving alongside market recovery U.S. Class 8 t ruck market US retail fuel prices Attractive payback cycle rebounding development, 2015 - 2026 for CNG trucks Sales volume p.a. 6 Units (1,000) 5 USD / DGE 4 1 332 331 316 339 355 3 1- 5 years payback 309 307 319 270
Slide 22: Well positioned to deliver on key priorities and capture long-term growth
Summary Well positioned to deliver on key priorities and capture long - term growth Improved financials Clear growth drivers Technology leader with with retained capacity across existing and unmatched customer to scale adjacent markets base and capacity 22
Slide 23: Q&A
Q&A 23
Slide 24: Appendix
an nA ANA ) Appendix 24
Slide 25: Hexagon Composites – global leading provider of alternative fuel solutions
Hexagon Composites – global leading provider of alternative fuel solutions for commercial fleets and gas transportation Corporate HQ ~850 employees Ålesund, Norway NOK 3 bn 2025 revenues 60+ years of heritage European facilities Kassel, Germany Burscheid, Germany 1 ~50 - 90 % 1 market share US facil
Slide 26: Business segments
Business segments Fuel Systems Mobile Pipeline Aftermarket Alternative fuel systems for Gas distribution modules Service, parts, testing and commercial vehicles essential for energy supply chains inspection 1 26 1) In cludes Hexagon Agility FleetCare and Hexagon Digital Wave
Slide 27: Investor relations information
Investor relations information Exchange Market cap Investor base Shareholders Ticker symbol: HEX ₁ NOK ~4 .1bn ~ 35% ISIN: NO0003067902 Market capitalization International Exchange: Oslo Børs ownership Financial calendar 2026 Equity analyst coverage Investor relations contact ABG Pareto Eirik Løhre
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