Hexagon Composites Ord (HXGCF) Q3 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning, everyone, and welcome to Hexagon Composites' Q3 presentation. My name is Berit-Katrin Høivik, and I'll be moderating today's presentation. Joining me in the studio today is our CEO, Philip Schramm, and CFO, David Bundela. Today, we'll take you through a company update, financials, and outlook before we wrap up with the Q&A session. And with that, I'll hand the word over to Philip. Thank you. Good morning everyone and thank you for joining us for our Q3 presentation. Let's start with a high-level summary of the third quarter this year. The macroeconomic uncertainty continues to negatively weigh on our business and our core markets are in a cyclical downturn in combination with an unprecedented macro environment. This has significantly affected our volumes and our profitability this quarter, and our Q3 results are weak, with group revenues which came in with 538 million Norwegian kroner and led to an EBITDA of negative 54 million. August contributed to the majority of our Q3 EBITDA loss. With our banking partners, we decided to initiate an equity race to improve our balance sheet, and we have raised 590 million Norwegian kroner. In September, we launched a group-wide cost savings program targeted at reducing our cost base, improving our EBITDA break-even point, and securing our liquidity. I will come back to the results and details of this program in more detail shortly. In addition, we remain focused on executing the strategic steps that will drive the adoption of natural gas in North America and in Europe. So let's take a closer look at how we are managing the current environment. First, let me give you some content to our current market exposure. On the one hand, our transit, refuse and aftermarket segments represent sectors that operate largely indepe...