Hexagon Purus Asa (HPURF) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Hi, and welcome to Hexagon Pyrrhus Q4 2025 presentation. My name is Mattias Meidel, and I am the IR Director of Hexagon Pyrrhus. I will be moderating from the studio in Oslo, and from the studio, I am also joined by Group CEO Morten Holum and Group CFO Salman Alaa. The agenda for today includes, as usual, the highlights from the quarter, a company update, the financials, and the outlook. We will end the presentation with a Q&A session, as usual, so please feel free to enter a question via the function on your screen. And with that, I would like to pass the word over to you, Martin, who will take us through the highlights of the quarter. Thank you, Mattias. And good morning, everyone. Thanks for joining our webcast this morning. 2025 was a challenging year. Looking back, we had four key points. One, after a long period of significant growth, the activity in 2025 dropped dramatically, driven by significant market uncertainty that was amplified by regulatory changes, tariffs and geopolitics. That resulted in lower demand and weaker revenue compared to 2024. Number two, we took decisive actions to adapt the operating model to a new market reality to reduce the cost base and protect liquidity. Our primary focus in 2025 was to align the cost base with the near-term expected market conditions. Number three, we also undertook an extensive review of our entire business portfolio to assess our options to improve capital efficiency, to extend the liquidity runway, and to preserve flexibility to support long-term value creation. And finally, number four, we made focused efforts to diversify the customer base across our core applications and were able to broaden the customer portfolio. We saw the positive impact of that now in Q4, where the uptick in volume was driven by several ...