Announcement • May 06
Hexagon Composites ASA Appoints Eirik Løhre as Permanent CFO, Effective May 5, 2026 Hexagon Composites ASA announced that Eirik Løhre has been appointed permanently to the role of CFO in Hexagon Composites, effective May 5, 2026. Eirik Løhre has been with the Company since 2021 and prior to his role as interim CFO, he served as EVP Corporate Development on the Executive Team. Announcement • Dec 22
Hexagon Composites ASA, Annual General Meeting, Apr 30, 2026 Hexagon Composites ASA, Annual General Meeting, Apr 30, 2026. Announcement • Nov 11
Hexagon Composites ASA Announces Executive Changes, Effective November 11, 2025 Hexagon Composites ASA announced that David Bandele, CFO of Hexagon Composites ASA, has decided to seek opportunities outside of Hexagon. David joined Hexagon in 2014 and has guided the company through different growth phases and several acquisitions, including Agility Fuel Solutions in 2019. The Board thanks David for his dedication and valuable commitment to Hexagon over the past decade. Eirik Løhre has been appointed interim CFO. Eirik joined Hexagon in 2021 and has served as EVP Corporate Development on the Executive Team. He has been essential in Hexagon's ongoing cost reduction program and strategic initiatives, including M&A and long-term portfolio alignment. Eirik brings broad experience from corporate finance and strategy, and deep knowledge of Hexagon's core markets and operations. The change is effective as of November 11, 2025 and the transition will be supported by David. Announcement • Sep 23
Hexagon Composites ASA has withdrawn its Follow-on Equity Offering in the amount of NOK 84 million. Hexagon Composites ASA has withdrawn its Follow-on Equity Offering in the amount of NOK 84 million.
Security Name: Shares
Security Type: Common Stock
Securities Offered: 6,000,000
Price\Range: NOK 14
Transaction Features: Rights Offering Announcement • Apr 15
Hexagon Composites ASA (OB:HEX) announces an Equity Buyback for 4,000,000 shares, for NOK 75 million. Hexagon Composites ASA (OB:HEX) announces a share repurchase program. Under the program, the company will repurchase up to 4,000,000 shares, for NOK 75 million. The purpose of the program is to fulfil the company's obligations under its incentive programs and for general corporate purposes. The program is valid till May 31, 2025. As of April 14, 2025, the company had 396,610 treasury shares. Announcement • Dec 03
Hexagon Composites Appoints Philipp Schramm as Chief Executive Officer, Effective 7 January 2025 Hexagon Composites announced the appointment of Dr. Philipp Schramm as Chief Executive Officer, effective 7 January 2025. Schramm will succeed Jon Erik Engeset, who on 16 April 2024announced his decision to step down. Philipp is an automotive industry executive, with more than 15 years of global experience in the automotive supplier industry. He recently served as the CEO and CFO of Brose, one of the world's largest family-owned automotive parts suppliers, with approximately 32,000 employees across 24 countries and annual revenues of around EUR 8 billion. Since joining Brose in 2020 the company has grown by about 30%. Prior to his role at Brose, Philipp held several senior positions at Webasto, another leading automotive supplier. Schramm's career started with PricewaterhouseCoopers with a focus on audit, M&A, restructuring and transaction services. His customer-focused approach and deep sector knowledge have driven significant growth and value creation in his previous positions where he has successfully identified new markets, geographies, and business opportunities in dynamic and fast changing environments. Philipp holds a Ph.D. (business doctorate) and a Diploma in Business Administration from the Katholische Universitat Eichstatt-Ingolstadt, Germany, as well as the equivalent of an executive MBA from Harvard Business School. Announcement • Jun 05
Worthington Enterprises, Inc. (NYSE:WOR) completed the acquisition of Hexagon Ragasco AS from Hexagon Composites ASA (OB:HEX). Worthington Enterprises, Inc. (NYSE:WOR) signed a definitive agreement to acquire Hexagon Ragasco AS from Hexagon Composites ASA (OB:HEX) at an enterprise value of NOK 1.05 billion on May 29, 2024. In related transaction Hexagon Composites signed a definitive agreement to acquire 49% stake in Sustainable Energy Solutions business segment. Depending on the full year 2024 performance of Hexagon Ragasco, the value may be adjusted between minus NOK 50 million to plus NOK 100 million. The sale of Hexagon Ragasco is expected to close on or around June 3, 2024. DNB Markets and Danske Bank acted as financial advisors, and Schjødt and Saxinger Rechtanwalts acted as legal advisors, to Hexagon Composites on the transactions. Worthington Enterprises, Inc. (NYSE:WOR) completed the acquisition of Hexagon Ragasco AS from Hexagon Composites ASA (OB:HEX) on June 3, 2024. Announcement • May 30
Hexagon Composites ASA (OB:HEX) acquired 49% stake in Sustainable Energy Solutions business segment of Worthington Enterprises for approximately €9.2 million. Hexagon Composites ASA (OB:HEX) acquired 49% stake in Sustainable Energy Solutions business segment of Worthington Enterprises for approximately €9.2 million on May 29, 2024. SES is a leading European supplier of high-pressure cylinders and systems for storage and distribution of compressed natural gas, hydrogen and industrial gases, and generated revenues of €127 million and adjusted EBITDA of €2.9 million in calendar year 2023. Worthington will retain 49% of the shares, while senior executives will hold the balance. DNB Markets and Danske Bank acted as financial advisors, and Schjødt and Saxinger Rechtanwalts acted as legal advisors, to Hexagon Composites on the transactions. Hexagon Composites ASA (OB:HEX) completed the acquisition of 49% stake in Sustainable Energy Solutions business segment of Worthington Enterprises on May 29, 2024. Announcement • Apr 17
Hexagon Composites Announces Resignation of Jon Erik Engeset as Chief Executive Officer Hexagon Composites announced that Jon Erik Engeset will step down as Chief Executive Officer. The Company will shortly commence a search process. Engeset will continue as CEO until the position is filled, following which he will continue to support the company in an advisory role. Announcement • Apr 16
Hexagon Composites Announces Resignation of Jon Erik Engeset as Group President Hexagon Composites announced that Jon Erik Engeset will step down as Group President. The Company will shortly commence a search process. Engeset will continue as CEO until the position is filled, following which he will continue to support the company in an advisory role. Announcement • May 05
Hexagon Launches Hexagon Agility Fleetcare, an Extended Aftermarket Offering At ACT Expo Hexagon Agility is introducing an extended aftermarket offering Certified Pre-Owned (CPO) program. The CPO program will provide a thorough factory inspection using proprietary technology. It includes a re-certification of the fuel system to install on new trucks for the secondary market - or refurbish for same fleet, improving sustainability and providing lower total cost of ownership. A new Hexagon Agility FleetCare facility, strategically located near OEMs and Hexagon Agility's Salisbury, NC plant is scheduled to open in June 2023. Hexagon Agility FleetCare is the only aftermarket service solely dedicated to clean fuel fleets, assisting them in achieving higher uptime and lower cost of ownership. "Hexagon Agility's new 40,000 sq ft facility will house parts, service, and installation operations to support the expansion of Hexagon Agility FleetCare total lifecycle portfolio. The facility will serve as the East Coast warehouse location with Hexagon Agility's Genuine Parts also available at a "Will Call" counter. Natural gas fuel system refurbishment and service will also be available, and the facility will serve as a staging location for Eastern Region remote field service technicians," says Brad Garner, SVP Hexagon Agility FleetCare. Breakeven Date Change • Feb 27
Forecast to breakeven in 2025 The 3 analysts covering Hexagon Composites expect the company to break even for the first time. New consensus forecast suggests the company will make a profit of kr136.9m in 2025. Average annual earnings growth of 39% is required to achieve expected profit on schedule. Announcement • Feb 17
Hans Peter Havdal Joins Hexagon Composites ASA as Chief Operating Officer and Resigns Post as Board Member Hexagon Composites announced that Hans Peter Havdal, currently a member of the board of directors of Hexagon Composites, will be joining the company as Chief Operating Officer (COO), effective 6 March 2023. Hans Peter's appointment as COO will preclude his participation on the Hexagon Composites Board of Directors. His resignation as a member of the Board of Directors is effective immediately. Hans Peter comes from the position as General Manager, Engineering and Digital Services in Semcon International, a global consulting company. He has previously served as the CEO of Kongsberg Automotive ASA and has held several other international management positions within the automotive industry. Hans Peter holds an MSc in Mechanical Engineering from the Norwegian University of Science & Technology. Board Change • Jan 20
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Director Liv Hovem was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Oct 21
Hexagon Composites ASA to Report Q4, 2023 Results on Feb 15, 2024 Hexagon Composites ASA announced that they will report Q4, 2023 results on Feb 15, 2024 Reported Earnings • Aug 16
Second quarter 2022 earnings released: kr0.57 loss per share (vs kr0.36 loss in 2Q 2021) Second quarter 2022 results: kr0.57 loss per share (down from kr0.36 loss in 2Q 2021). Revenue: kr1.18b (up 50% from 2Q 2021). Net loss: kr82.2m (loss widened 61% from 2Q 2021). Over the next year, revenue is forecast to grow 27%, compared to a 9.1% growth forecast for the Machinery industry in the United Kingdom. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 103 percentage points per year, which is a significant difference in performance. Board Change • Aug 10
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Director Liv Hovem was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Jul 27
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Director Liv Hovem was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Recent Insider Transactions • Jun 12
President of Hexagon Ragasco recently sold kr570k worth of stock On the 10th of June, Skjalg Stavheim sold around 18k shares on-market at roughly kr31.65 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of kr62m more than they bought in the last 12 months. Board Change • Jun 03
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Director Liv Hovem was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Mar 28
Full year 2021 earnings released: kr1.19 loss per share (vs kr0.74 loss in FY 2020) Full year 2021 results: kr1.19 loss per share (down from kr0.74 loss in FY 2020). Revenue: kr3.54b (up 15% from FY 2020). Net loss: kr237.3m (loss widened 69% from FY 2020). Over the next year, revenue is forecast to grow 28%, compared to a 12% growth forecast for the industry in the United Kingdom. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 108 percentage points per year, which is a significant difference in performance. Board Change • Mar 16
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Director Liv Hovem was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Recent Insider Transactions • Nov 27
Chairman recently sold kr62m worth of stock On the 24th of November, Knut Flakk sold around 2m shares on-market at roughly kr37.50 per share. This was the largest sale by an insider in the last 3 months. This was Knut's only on-market trade for the last 12 months. Board Change • Oct 25
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Director Liv Hovem was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Sep 23
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Director Liv Hovem was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Aug 13
Second quarter 2021 earnings released: kr0.59 loss per share (vs kr0.41 loss in 2Q 2020) The company reported a solid second quarter result with reduced losses, improved revenues and improved control over expenses. Second quarter 2021 results: Revenue: kr788.1m (up 15% from 2Q 2020). Net loss: kr51.2m (loss narrowed 34% from 2Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 112 percentage points per year, which is a significant difference in performance. Board Change • Jul 29
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Director Liv Hovem was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • May 13
First quarter 2021 earnings released The company reported a poor first quarter result with weaker earnings, revenues and control over costs. First quarter 2021 results: Revenue: kr692.5m (down 16% from 1Q 2020). Net loss: kr93.1m (down 250% from profit in 1Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 84 percentage points per year, which is a significant difference in performance. Is New 90 Day High Low • Mar 10
New 90-day low: kr47.93 The company is down 16% from its price of kr56.75 on 09 December 2020. The British market is up 4.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Machinery industry, which is up 2.0% over the same period. Analyst Estimate Surprise Post Earnings • Feb 20
Revenue misses expectations Revenue missed analyst estimates by 7.9%. Over the next year, revenue is forecast to grow 26% compared to a 3.9% decline forecast for the Machinery industry in the United Kingdom. Is New 90 Day High Low • Jan 27
New 90-day high: kr68.30 The company is up 61% from its price of kr42.48 on 29 October 2020. The British market is up 20% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Machinery industry, which is up 15% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is kr33.43 per share. Is New 90 Day High Low • Jan 09
New 90-day high: kr65.20 The company is up 22% from its price of kr53.35 on 09 October 2020. The British market is up 14% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Machinery industry, which is up 15% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is kr32.34 per share. Is New 90 Day High Low • Dec 02
New 90-day high: kr60.35 The company is up 15% from its price of kr52.60 on 03 September 2020. The British market is up 8.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Machinery industry, which is up 12% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is kr31.02 per share. 
