Hexagon Composites Ord (HXGCF) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning, everyone, and welcome to Hexagon Composites Q2 presentation. My name is Berit-Katrin Høivik, and I'll be moderating today's session. Joining me in the studio today is our CEO, Philip Schramm, and CFO, David Vandella. They will take you through a company update, financials, and outlook before we wrap it up with a Q&A session. And with that, I'll hand the word over to Philip. Thank you so much. Good morning everyone and thank you for joining us for our Q2 results. The first half of this year has been a mix of progress and challenges. The continued macroeconomic headwinds led to low volumes in Q2. But we have taken action, including cost-saving measures, right-sizing of the organization and strategic progress. we are seeing encouraging and strong signals in our core markets, especially in heavy-duty trucking in North America. Major orders are now coming through and more and more fleets are showing interest as they are seeing the benefit of the new game-changing X15N engine with our fuel systems on. So let's turn to the quarter. Group revenues were 674 million NOC with an EBITDA of 12 million NOC. These results reflect the continued uncertainty in several of our major markets and general delays in investment decisions by our customers. Our fuel system segment continues to outperform the trucking market, especially in the refuse sector. In mobile pipeline, we see continued delays in spending and investment decisions. Macroeconomic uncertainties and low oil prices are driving many operators to focus on asset utilization. For our aftermarket segment, revenues increased in our vehicle service business, offset by the cyclical and anticipated lower activity in cylinder requalification services. While navigating these macroeconomic headwinds, we are continuing to ...