Hexagon Purus Asa (HPURF) Q1 2025 Earnings Call

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WEBVTT 00:00:00.031 -- 00:00:04.740 Hi and welcome to Hexagon PURES Q1 2025 presentation. 00:00:04.740 -- 00:00:10.230 My name is Mathias Meidl and I am the IR Director of Hexagon PURES. 00:00:10.230 -- 00:00:15.360 I will be moderating from the studio in Oslo and from the studio I'm also joined by 00:00:15.360 -- 00:00:20.129 Group CEO Morten Holum and Group CFO Salman Alam. 00:00:20.129 -- 00:00:25.376 The agenda for today includes, as usual, the highlights from the quarter, 00:00:25.376 -- 00:00:29.041 a company update, the financials, and the outlook. 00:00:29.041 -- 00:00:33.927 We will also end the presentation with a Q&A session, so please feel free to enter your 00:00:33.927 -- 00:00:38.994 question via the function on your screen. So with that, I will pass the word over to 00:00:38.994 -- 00:00:43.718 you, Martin, who will take us through the highlights of the quarter. 00:00:44.081 -- 00:00:46.965 Thank you, Mattias, and good morning, everyone. 00:00:46.965 -- 00:00:51.007 Thanks for joining our webcast today. 00:00:51.668 -- 00:00:56.813 Let's look at the key developments in the first quarter. 00:00:57.478 -- 00:01:02.766 Number one, the first quarter results were as expected, significantly weaker 00:01:02.766 -- 00:01:07.915 than last year with a revenue decline of 44% compared to the same 00:01:07.915 -- 00:01:10.736 period last year. 00:01:11.024 -- 00:01:16.272 Number two, we continue to see growing demand for our hydrogen transit bus 00:01:16.272 -- 00:01:21.779 applications in Q1. We extended the multi-year supply agreement with Solaris. 00:01:21.779 -- 00:01:27.688 We received the first orders from MCV, the Egyptian bus OEM, 00:01:27.688 -- 00:01:32.775 and we also signed a multi-year agreement with Stadler for the delivery of hydrogen fuel 00:01:32....