Energy
Hexagon Purus ASA: Results for the second quarter 2026
Hexagon Purus ASA: Results for the second quarter 2026 Key developments in Q2 2026: Revenue and other income of NOK 146 million in the second quarter of 2026EBITDA of NOK -102 million in the second quarter of 2026, compared to NOK -161 million in the same period last year;Exited the quarter with order backlog consisting of firm purchase orders of NOK 523 million “In the second quarter, we have continued to execute against the priorities we established at the beginning of the year; reducing the c
About this update from Hexagon Purus Asa
Hexagon Purus ASA: Results for the second quarter 2026 Key developments in Q2 2026: "In the second quarter, we have continued to execute against the priorities we established at the beginning of the year; reducing the cost base further, converting commercial opportunities into firm customer orders, and advancing initiatives to strengthen the balance sheet and long-term capital structure", says Morten Holum, CEO of Hexagon Purus. "We have multiple customer dialogues, across both hydrogen and battery-electric applications, and converting these opportunities into firm orders remains management's highest operational priority. Although the operating environment remains demanding, the actions taken over the past year leave the Company materially better positioned than it was a year ago". Hexagon Purus Q2 2026 consolidated financials In the second quarter of 2026, Hexagon Purus ("the Company" or "the Group") generated revenue and other income of NOK 146 million, down 25% compared to the corresponding period in 2025. Excluding the U.S. divestment which occurred in the first quarter of 2026, the decrease in revenue was 6% and primarily driven by lower activity within transit bus and industrial gas applications, partly offset by higher activity in hydrogen infrastructure. Total operating expenses in the second quarter of 2026 amounted to NOK 248 (355) million, leading to an operating profit before depreciation (EBITDA) of NOK -102 (-161) million. Total assets at the end of the second quarter of 2026 amounted to NOK 1,866 (2,600) million. Property, plant and equipment totaled NOK 629 (1,147) million at quarter-end. Right-of-use assets amounted to NOK 318 (512) million at quarter-end, while intangible assets ended at NOK 590 (665) million. Inventory amounted to NOK 382 (714) million at the end of the second quarter of 2026 and was more or less unchanged compared to the first quarter of 2026. Trade receivables stood at NOK 180 (244) million at quarter-end, and was down from NOK 238 million in the first quarter of 2026 driven by cash collection from customers. Total equity amounted to NOK 41 (1,418) million at the end of the second quarter of 2026, corresponding to an equity ratio of 1% (33%). While the Group's consolidated equity ratio is at a low level, it is not expected to constrain near-term operations. Furthermore, the Company continues to actively evaluate its capital structure and broader financial framework, including structural measures relating to the Group's outstanding convertible bonds, with the objective of strengthening the balance sheet, improving financial flexibility and supporting the long-term development of the business.