Hexagon Composites Management

Management criteria checks 1/4

Hexagon Composites' CEO is Jon Engeset, appointed in Jan 2013, has a tenure of 11.83 years. directly owns 0.12% of the company’s shares, worth €1.02M. The average tenure of the management team and the board of directors is 3.7 years and 2.2 years respectively.

Key information

Jon Engeset

Chief executive officer

n/a

Total compensation

CEO salary percentage	n/a
CEO tenure	11.8yrs
CEO ownership	0.1%
Management average tenure	3.7yrs
Board average tenure	2.2yrs

Recent management updates

Recent updates

CEO Compensation Analysis

How has Jon Engeset's remuneration changed compared to Hexagon Composites's earnings?
Date	Total Compensation	Salary	Company Earnings
Sep 30 2024	n/a	n/a	-NOK 1b
Jun 30 2024	n/a	n/a	-NOK 1b
Mar 31 2024	n/a	n/a	-NOK 997m
Dec 31 2023	n/a	n/a	-NOK 844m
Sep 30 2023	n/a	n/a	-NOK 54m
Jun 30 2023	n/a	n/a	NOK 99m
Mar 31 2023	n/a	n/a	NOK 70m
Dec 31 2022	NOK 9m	NOK 3m	NOK 120m
Sep 30 2022	n/a	n/a	NOK 509k
Jun 30 2022	n/a	n/a	-NOK 40m
Mar 31 2022	n/a	n/a	-NOK 133m
Dec 31 2021	NOK 9m	NOK 3m	-NOK 237m
Sep 30 2021	n/a	n/a	-NOK 235m
Jun 30 2021	n/a	n/a	-NOK 244m
Mar 31 2021	n/a	n/a	-NOK 270m
Dec 31 2020	NOK 8m	NOK 4m	-NOK 141m
Sep 30 2020	n/a	n/a	-NOK 51m
Jun 30 2020	n/a	n/a	NOK 51m
Mar 31 2020	n/a	n/a	NOK 101m
Dec 31 2019	NOK 7m	NOK 4m	NOK 107m
Sep 30 2019	n/a	n/a	NOK 120m
Jun 30 2019	n/a	n/a	NOK 97m
Mar 31 2019	n/a	n/a	NOK 187m
Dec 31 2018	NOK 6m	NOK 4m	NOK 141m
Sep 30 2018	n/a	n/a	NOK 149m
Jun 30 2018	n/a	n/a	NOK 133m
Mar 31 2018	n/a	n/a	NOK 85m
Dec 31 2017	NOK 7m	NOK 3m	NOK 69m

Compensation vs Market: Insufficient data to establish whether Jon's total compensation is reasonable compared to companies of similar size in the German market.

Compensation vs Earnings: Jon's compensation has increased whilst the company is unprofitable.

CEO

Jon Engeset

11.8yrs

Tenure

NOK 9,343,000

Compensation

Mr. Jon Erik Engeset serves as Chief Executive Officer at Hexagon Composites ASA. He had been Group President at Hexagon Composites ASA until April 2024. Mr. Engeset served as Chief Executive Officer of Sa...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
Jon Engeset	Chief Executive Officer	11.8yrs	NOK 9.34m	0.12% € 1.0m
David Bandele	Chief Financial Officer	10.8yrs	NOK 4.80m	0.078% € 641.6k
Hans Havdal	Group Chief Operating Officer	1.7yrs	NOK 311.00k	0.0019% € 15.3k
Karen Romer	Senior Vice President of Communications	4.5yrs	NOK 3.48m	0.0074% € 61.0k
Skjalg Stavheim	President of Hexagon Ragasco	no data	NOK 4.93m	no data
Rick Rashilla	Senior Vice President of Sustainability	2.8yrs	NOK 5.00m	0.023% € 189.2k
Morten Holum	CEO & President of Hexagon Purus	4.7yrs	NOK 7.11m	no data
George Siedlecki	Acting President Digital Wave	no data	NOK 5.76m	0.054% € 443.1k
Gunnar Engkrog	Head of Group Accounting	no data	no data	no data
Ingrid Aarsnes	Vice President of Investor Relations & ESG	no data	no data	no data
Ashley Remillard	Senior Vice President of Legal & Government Affairs	1.7yrs	no data	0.0047% € 38.4k
Eirik Lohre	Vice President of Corporate Development	1.7yrs	no data	0.0067% € 54.8k

3.7yrs

Average Tenure

60yo

Average Age

Experienced Management: 2HX's management team is considered experienced (3.7 years average tenure).

Board Members

Name	Position	Tenure	Compensation	Ownership
Knut Flakk	Chairman	24.8yrs	NOK 1.02m	7.58% € 62.2m
Kristine Landmark	Independent Deputy Chair	13.8yrs	NOK 465.00k	0.0048% € 39.1k
Sam Gabbita	Independent Director	2.2yrs	no data	no data
Joachim Magnusson	Independent Director	1.4yrs	no data	no data
Liv Hovem	Independent Director	4.6yrs	NOK 352.00k	no data
Eva Sagemo	Director	less than a year	no data	no data
Tatayuki Tsunashima	Director	less than a year	no data	no data

2.2yrs

Average Tenure

61.5yo

Average Age

Experienced Board: 2HX's board of directors are not considered experienced ( 2.2 years average tenure), which suggests a new board.

Hexagon Composites Management

Management criteria checks 1/4

Key information

Recent management updates

Chief Financial Officer recently sold €253k worth of stock

Hexagon Composites Announces Resignation of Jon Erik Engeset as Chief Executive Officer

Hexagon Composites Announces Resignation of Jon Erik Engeset as Chief Executive Officer

Group President & CEO recently sold €77k worth of stock

Hans Peter Havdal Joins Hexagon Composites ASA as Chief Operating Officer and Resigns Post as Board Member

Less than half of directors are independent

Recent updates

Chief Financial Officer recently sold €253k worth of stock

Third quarter 2024 earnings released: EPS: kr0.01 (vs kr0.79 loss in 3Q 2023)

Now 24% overvalued after recent price rise

Now 21% overvalued after recent price rise

New minor risk - Shareholder dilution

Second quarter 2024 earnings released: EPS: kr2.95 (vs kr0.46 in 2Q 2023)

Now 21% undervalued

Worthington Enterprises, Inc. (NYSE:WOR) completed the acquisition of Hexagon Ragasco AS from Hexagon Composites ASA (OB:HEX).

Hexagon Composites ASA (OB:HEX) acquired 49% stake in Sustainable Energy Solutions business segment of Worthington Enterprises for approximately €9.2 million.

New major risk - Share price stability

New major risk - Financial position

First quarter 2024 earnings released: kr0.79 loss per share (vs kr0.14 profit in 1Q 2023)

Hexagon Composites Announces Resignation of Jon Erik Engeset as Chief Executive Officer

Hexagon Composites Announces Resignation of Jon Erik Engeset as Chief Executive Officer

Full year 2023 earnings released: EPS: kr5.66 (vs kr1.55 loss in FY 2022)

Hexagon Composites ASA to Report First Half, 2024 Results on Aug 15, 2024

New major risk - Revenue and earnings growth

Third quarter 2023 earnings released

Now 21% undervalued after recent price drop

Now 20% undervalued

New major risk - Share price stability

Second quarter 2023 earnings released: EPS: kr11.20 (vs kr0.57 loss in 2Q 2022)

New minor risk - Share price stability

First quarter 2023 earnings released: kr0.85 loss per share (vs kr0.56 loss in 1Q 2022)

Hexagon Launches Hexagon Agility Fleetcare, an Extended Aftermarket Offering At ACT Expo

Group President & CEO recently sold €77k worth of stock

Forecast to breakeven in 2025

Full year 2022 earnings released: kr2.12 loss per share (vs kr1.19 loss in FY 2021)

Hans Peter Havdal Joins Hexagon Composites ASA as Chief Operating Officer and Resigns Post as Board Member

Less than half of directors are independent

Third quarter 2022 earnings released: kr0.40 loss per share (vs kr0.28 loss in 3Q 2021)

Hexagon Composites ASA to Report Q4, 2023 Results on Feb 15, 2024

Hexagon Composites Asa Revises Full Year Guidance 2022

Second quarter 2022 earnings released: kr0.57 loss per share (vs kr0.36 loss in 2Q 2021)

Hexagon Composites ASA (OB:HEX) and Hexagon Purus ASA (OB:HPUR) completed the acquisition of 40% stake in Liquid (Renewable) Natural Gas (LNG) and Liquid Hydrogen (LH2) Business from Cryoshelter Gmbh.

President of Hexagon Ragasco recently sold €56k worth of stock

First quarter 2022 earnings released: kr0.56 loss per share (vs kr0.47 loss in 1Q 2021)

Hexagon Composites Maintains Earnings Guidance for the Full Yarer 2022

Less than half of directors are independent

Hexagon Composites ASA (OB:HEX) and Hexagon Purus ASA (OB:HPUR) signed an agreement to acquire a 40% stake in Liquid (Renewable) Natural Gas (LNG) and Liquid Hydrogen (LH2) Business from Cryoshelter Gmbh for €6 million.

Hexagon Composites ASA (OB:HEX) and Hexagon Purus ASA (OB:HPUR) signed an agreement to acquire a 40% stake in Liquid (Renewable) Natural Gas (LNG) and Liquid Hydrogen (LH2) Business from Cryoshelter Gmbh for €6 million.

Full year 2021 earnings released: kr1.19 loss per share (vs kr0.74 loss in FY 2020)

Full year 2021 earnings: EPS in line with analyst expectations despite revenue beat

Second quarter 2021 earnings released: kr0.59 loss per share (vs kr0.41 loss in 2Q 2020)

First quarter 2021 earnings released

Full year 2020 earnings released: kr0.74 loss per share (vs kr0.62 profit in FY 2019)

Hexagon Composites ASA, Annual General Meeting, Apr 28, 2022

Hexagon Agility Receives Additional Order from Major Global Logistics Customer for CNG Trucks

Full year 2020 earnings released: kr0.80 loss per share (vs kr0.62 profit in FY 2019)

Revenue misses expectations

Hexagon Composites ASA to Report Q4, 2020 Results on Feb 17, 2021

New 90-day high: €5.80

New 90-day high: €5.35

Hexagon Composites ASA to Report Q3, 2021 Results on Nov 04, 2021

Hexagon Composites ASA to Transfer CNG LDV to Its G-Mobility Business – Establishing Hexagon Purus as A Pure E-Mobility Business

First half earnings released

CEO Compensation Analysis

CEO

Tenure

Compensation

Leadership Team

Average Tenure

Average Age

Board Members

Average Tenure

Average Age