Slide 1: Q2 2025 report
a) HEXAGON Q2 2025 report 25 July 2025
Slide 2: Opening comments
Opening comments Anders Svensson 2
Slide 3: Day 5 at Hexagon
Day 5 at Hexagon Initial reflections & immediate priorities − Hexagon is renowned for its innovation and its strong Hexagon has track record of delivery guided and New image − A leader in several very attractive markets with driven convincing long-term dynamics progress in − The potential separation
Slide 4: Q2 2025 performance summary
Q2 2025 performance summary Norbert Hanke 4
Slide 5: Highlights of the quarter
Highlights of the quarter Mitigating uncertain markets to deliver strong financial results Q2 2025 − Return to organic growth as divisions mitigated Category Achievement impacts of ongoing macro uncertainty Organic growth 3% − Operating margins diluted by a significant Adj. gross margin negative cur
Slide 6: Direct tariff impacts
Direct tariff impacts Mitigated the majority of the direct impact in Q2 − ~2 MEUR headwind to EBIT1 in Q2, primarily as a result of Manufacturing Intelligence shipping from backlog − Business quickly implemented a number of actions to insulate from the direct impact of tariffs − Price increases − Re
Slide 7: Q2 2025 divisional performance review
Q2 2025 divisional performance review Ben Maslen 7
Slide 8: Divisional performance
Divisional performance Return to growth in an uncertain macro environment Safety, Manufacturing Asset Lifecycle Autonomous Q2 2025, MEUR Geosystems Infrastructure, Hexagon Intelligence Intelligence Solutions & Geospatial Revenue 487.5 206.3 389.6 167.2 118.3 1,370.7* Organic Growth 3% (0%) 6% (9%) -
Slide 9: Manufacturing Intelligence
Manufacturing Intelligence Revenue by industry (FY 2024) 3% 3% 9% General manufacturing Q2 2025, MEUR (Q2 2024) Business update 34% Automotive Aerospace & defense Category Achievement − Strength in general manufacturing, 19% Electronics aerospace & defence and Energy & power Revenue 487.5 electronic
Slide 10: Asset Lifecycle Intelligence
Asset Lifecycle Intelligence Revenue by industry (FY 2024) 23% Oil & gas 25% Q2 2025, MEUR (Q2 2024) Business update Chemicals 5% Heavy construction Category Achievement − Uncertainty in some market Energy & power segments Mining Revenue 206.3 − Broad geographic growth, some 10% Other (203.1) weakne
Slide 11: Geosystems
Geosystems Revenue by industry (FY 2024) 12% 6% Heavy construction 28% Q2 2025, MEUR (Q2 2024) Business update Buildings 8% Surveying Category Achievement − Mid-single-digit growth in software Mining and recurring revenues, growth in Mapping Revenue 389.6 new products 18% Other (405.5) − Sensor & ro
Slide 12: Autonomous Solutions
Autonomous Solutions Revenue by industry (FY 2024) 6% 7% Mining Q2 2025, MEUR (Q2 2024) Business update Agriculture 17% Aerospace & defense Category Achievement − Good growth in aerospace & 53% Marine defence, agriculture declined but Other Revenue 167.2 signs of stablisation (141.2) − Delayed custo
Slide 13: Safety, Infrastructure & Geospatial
Safety, Infrastructure & Geospatial Revenue by industry (FY 2024) 5% 5% Public safety 10% Q2 2025, MEUR (Q2 2024) Business update Aerospace & defense Utilities Category Achievement − Public safety saw strong double- 12% 49% Transportation digit growth, offset by delays in US Consumer goods Revenue 1
Slide 14: Acquisition
Acquisition Aero Photo Europe Investigation (APEI) Announced 12 June 2025 − French company specialising in aerial mapping − A fleet of private aircraft dedicated to aerial data acquisition, primarily within France, wider Europe and Africa − Enhances Hexagon’s ability to support growing demand for ac
Slide 15: Divestment
Divestment Non-core assets in Safety, Infrastructure & Geospatial Announced 2 July 2025 − Sale of certain non-core business assets within the Safety, Infrastructure & Geospatial (SIG) division − Includes IT services, geospatial data production services and supply of ruggedised hardware supporting th
Slide 16: Hexagon LIVE Global 2025
Hexagon LIVE Global 2025 ~3k 20k+ External attendees Livestream views Major announcements AEON Octave 16 | hexagon.com
Slide 17: Aeon
Aeon Future of A humanoid built for industry Robotics 2035 Get the report Get the report Launched by Designed to meet the Combines agility, Initial responses Hexagon’s Robotics needs of industrial awareness, and have been very division at Hexagon customers versatility positive LIVE Global − Use case
Slide 18: MAESTRO
MAESTRO Engineered for speed, precision and performance, MAESTRO meets the evolving demands of manufacturing and delivers quality remastered. Faster inspection Designed and engineered from the ground up to deliver precision while closing productivity gaps and eliminating bottlenecks Intuitive operat
Slide 19: Q2 2025 financial update
Q2 2025 financial update David Mills 19
Slide 20: Income statement
Income statement Operating margins impacted currency impacts Adjusted income statement MEUR Q2 2025 Q2 2024 Change % Sales bridge Net sales 1,370.7 1,353.4 3* 2024, MEUR 1,353.4 COGS -452.1 -442.4 -2 Structure, %* 2% Gross earnings 918.6 911.0 1 Gross margin 67.0% 67.3% -0.3 Currency, % -4% Operatin
Slide 21: Gross margin
Gross margin Continued strong gross margin progression Rolling 12-months gross margin Gross margin by quarter Resilient GM% development 70% 67.3% - R12M gross margin 67.1% 67.2% 67.0% of 67.0% 66.5% 66.7% 66.5% 65% 65.6% - Q2 adjusted gross margin 65.5% of 67.0% (67.3) 60% - Negatively impacted by c
Slide 22: Revenue & profitability bridge
Revenue & profitability bridge Significant currency headwinds effects MEUR Q2 2024 Currency Structure Organic Q2 2025 Operating net sales 1,353.4 -50 27 40 1,370.7 Growth -4% 2% 3% 1% Adjusted operating earnings (EBIT1) 399.5 -32 11 -17 360.6 Adjusted operating margin 29.5% 65% 39% -43 26.3% Accreti
Slide 23: Revenue & profitability bridge Q1 to Q2
Revenue & profitability bridge Q1 to Q2 Operational improvements driving margin growth MEUR Q1 2025 Currency Structure Organic Q2 2025 Operating net sales 1,322.8 -62 13 97 1,370.7 Growth -5% 1% 7% 4% Adjusted operating earnings (EBIT1) 344.7 -30 6 39 360.6 Adjusted operating margin 26.1% 48% 47% 41
Slide 24: Cash flow
Cash flow Continued operational discipline Cash flow statement MEUR Q2 2025 Q2 2024 Change % - Excellent cash generation in an uncertain macro Adjusted operating earnings (EBIT1) 360.6 399.5 -10 environment D&A (Excluding adjustments) 117.7 108.4 9 Adjusted EBITDA 478.3 507.9 -6 - Working capital re
Slide 25: Working capital to sales
Working capital to sales Returning to trend WC/Sales, % WC Bridge Q2 2025 25% Receivables & prepaid expenses -30.1 20% Inventories 1.8 15% Liabilities Q2 2025 5.5% -17.2 10% Deferred revenue 25.1 5% Accrued expenses -35.2 0% Change in WC -55.6 Working capital to net sales (on a rolling basis) 25 | h
Slide 26: Conclusions
Conclusions Norbert Hanke, Anders Svensson 26
Slide 27: Q2 2025 Summary
Q2 2025 Summary Good financial metrics Potential separation of Octave Mitigated customer uncertainty to On track for completion in the first deliver a return to organic growth, half of 2026 stable gross margins and strong cash Operating margins New products Impacted by negative currency Successful l
Slide 28: Slide 28
Slide 29: Cautionary statement
Cautionary statement This communication may contain forward-looking statements. When used in this communication, words such as "anticipate", "believe", "estimate", "expect", "intend", "plan" and "project" are intended to identify forward-looking statements. They may involve risks and uncertainties,
Slide 30: Appendix
Appendix Q2 2025 {HEXAGON
Slide 31: Seasonality
Seasonality Seasonal MEUR pattern: Q2 & Q4 tend to be the strongest quarters MEUR 32% 1,400 30% 28% Adjusted EBIT1 Margin % 1,200 26% 24% 22% 1,000 20% 18% 800 Net Sales Net Sales 16% 14% 600 12% 10% 400 8% 6% 200 4% EBIT1 2% EBIT1 0 0% 31 | hexagon.com
Slide 32: Divisional performance
Divisional performance Division Category (MEUR) Q2 2024 Q3 2024 Q4 2024 FY 2024 Q1 2025 Q2 2025 Revenue 1,353.4 1,299.8 1,448.0 5,401.1 1,322.8 1,370.7 Organic growth in revenue 0% -2% 1% 0% 0% 3% Hexagon* EBIT1 399.5 376.6 450.3 1,602.9 344.7 360.6 EBIT1 margin% 29.5% 29.0% 31.1% 29.7% 26.1% 26.3%
Slide 33: Customer story | Greater Anglia
Asset Lifecycle Intelligence Customer story | Greater Anglia Customer background Customer challenge Greater Anglia is a British train operating To eliminate risk of compliance breaches company with over 1,300 daily services, through automation, reduce admin burden 134 stations, 76M annual passenger
Slide 34: Customer story | SKANSKA
Customer story | SKANSKA Customer background Customer challenge Skanska is a world leading project Skanska is building the Northern part of Norway’s development and construction company Rogfast tunnel, the world’s longest and deepest with 135 years of history. sub-sea road tunnel. They must ensure t