Hexagon Composites Ord (HXGCF) Q2 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning everyone and welcome to Hexagon Composites second quarter presentation for 2026. My name is Berit-Cathrin Hoyvik and I'll be moderating today's presentation. Joining me in the studio today is our CEO Philip Schramm and CFO Eirik Lohre. They will take you through a company update, financials and outlook before we wrap up with the Q&A session. With a reminder that you may submit questions on your screen at any point during the presentation. And with that, I'll hand over to Philip. Thank you. Good morning everyone and thank you for joining us today for our Q2 2026 earnings call. Let me start with the headlines. I can proudly describe this quarter as a turning point for Hexagon Composites. Over the last year, we've been focused on improving our resilience, strengthening our balance sheet, lowering our break-even point, and positioning the company for the next phase of growth. This quarter, we saw the results of some of these actions materializing, building on the improvements we have delivered in Q1. We are now fundamentally Moving from a defense position into an offense position. The progress we delivered is visible across four important developments. First, we have successfully completed the cost reduction program that we launched during 2025. When we initiated this program, we committed to reducing costs while retaining the capacity required to scale up as markets rebound. We have delivered on those commitments. Second, we have strengthened our balance sheet through a 650 million Norwegian kroner equity raise and significantly improved our financial flexibility. Third, our mobile pipeline business signed the largest order in its history in July. We secured an order of 100 million US dollars equivalent to 1 billion Norwegian kroner. That opens up a new app...