New Risk • May 22
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 56% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. This is currently the only risk that has been identified for the company. 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. Reported Earnings • Apr 23
Full year 2025 earnings released: kr5.03 loss per share (vs kr4.73 loss in FY 2024) Full year 2025 results: kr5.03 loss per share (further deteriorated from kr4.73 loss in FY 2024). Revenue: kr2.95b (down 39% from FY 2024). Net loss: kr1.16b (loss widened 20% from FY 2024). Revenue is forecast to grow 27% p.a. on average during the next 3 years, compared to a 4.6% 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 36 percentage points per year, which is a significant difference in performance. Reported Earnings • Feb 15
Full year 2025 earnings released: kr4.91 loss per share (vs kr4.73 loss in FY 2024) Full year 2025 results: kr4.91 loss per share (further deteriorated from kr4.73 loss in FY 2024). Revenue: kr2.96b (down 39% from FY 2024). Net loss: kr1.13b (loss widened 17% from FY 2024). Revenue is forecast to grow 29% p.a. on average during the next 3 years, compared to a 4.8% 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 26 percentage points per year, which is a significant difference in performance. New Risk • Feb 12
New minor risk - Profitability The company is currently unprofitable and not forecast to become profitable over the next year. Trailing 12-month net loss: kr1.8b Forecast net loss in 1 year: kr703m This is considered a minor risk. Companies that are not profitable are more likely to be burning through cash and less likely to be well established. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. Without profits, the company is under pressure to grow significantly while potentially having to reduce costs and possibly needing to take on debt or raise capital to remain afloat. Currently, the following risks have been identified for the company: Minor Risks Currently unprofitable and not forecast to become profitable next year (kr703m net loss next year). Share price has been volatile over the past 3 months (7.8% average weekly change). Shareholders have been diluted in the past year (19% increase in shares outstanding). 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. Reported Earnings • Nov 07
Third quarter 2025 earnings released: kr0.80 loss per share (vs kr0.011 profit in 3Q 2024) Third quarter 2025 results: kr0.80 loss per share (down from kr0.011 profit in 3Q 2024). Revenue: kr537.7m (down 57% from 3Q 2024). Net loss: kr263.6m (down kr265.8m from profit in 3Q 2024). Revenue is forecast to grow 30% p.a. on average during the next 3 years, compared to a 4.9% 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 47 percentage points per year, which is a significant difference in performance. 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 New Risk • Sep 19
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 18% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (8.1% average weekly change). Shareholders have been diluted in the past year (18% increase in shares outstanding). Reported Earnings • Aug 15
Second quarter 2025 earnings released: EPS: kr0.25 (vs kr0.46 loss in 2Q 2024) Second quarter 2025 results: EPS: kr0.25 (up from kr0.46 loss in 2Q 2024). Revenue: kr674.2m (down 41% from 2Q 2024). Net income: kr55.3m (up kr147.0m from 2Q 2024). Profit margin: 8.2% (up from net loss in 2Q 2024). Revenue is forecast to grow 21% p.a. on average during the next 3 years, compared to a 4.9% 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 73 percentage points per year, which is a significant difference in performance. New Risk • Jun 26
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of British stocks, typically moving 8.2% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. This is currently the only risk that has been identified for the company. Board Change • Jun 01
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Director Harald Arnet was the last director to join the board, commencing their role in 2025. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • May 15
First quarter 2025 earnings released: kr3.99 loss per share (vs kr0.82 loss in 1Q 2024) First quarter 2025 results: kr3.99 loss per share (further deteriorated from kr0.82 loss in 1Q 2024). Revenue: kr911.8m (down 3.4% from 1Q 2024). Net loss: kr835.9m (loss widened 406% from 1Q 2024). Revenue is forecast to grow 18% p.a. on average during the next 3 years, compared to a 4.4% 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 77 percentage points per year, which is a significant difference in performance. 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. Reported Earnings • Apr 02
Full year 2024 earnings released: kr4.73 loss per share (vs kr4.57 loss in FY 2023) Full year 2024 results: kr4.73 loss per share (further deteriorated from kr4.57 loss in FY 2023). Revenue: kr4.86b (up 7.5% from FY 2023). Net loss: kr968.7m (loss widened 5.6% from FY 2023). Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 4.9% 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 77 percentage points per year, which is a significant difference in performance. Recent Insider Transactions • Mar 12
Chief Financial Officer recently bought kr106k worth of stock On the 7th of March, David Bandele bought around 5k shares on-market at roughly kr23.45 per share. This transaction amounted to 4.5% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Despite this recent buy, David has been a net seller over the last 12 months, reducing personal holdings by kr3.9m. Reported Earnings • Feb 14
Full year 2024 earnings released: kr1.05 loss per share (vs kr4.21 loss in FY 2023) Full year 2024 results: kr1.05 loss per share. Revenue: kr4.88b (down 5.9% from FY 2023). Net loss: kr904.8m (loss widened 7.2% from FY 2023). Revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 4.6% growth forecast for the Machinery industry in the United Kingdom. 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. Recent Insider Transactions • Nov 15
Chief Financial Officer recently sold kr3.0m worth of stock On the 7th of November, David Bandele sold around 67k shares on-market at roughly kr44.40 per share. This transaction amounted to 40% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. David has been a net seller over the last 12 months, reducing personal holdings by kr4.0m. Reported Earnings • Nov 08
Third quarter 2024 earnings released: EPS: kr0.01 (vs kr0.79 loss in 3Q 2023) Third quarter 2024 results: EPS: kr0.01 (up from kr0.79 loss in 3Q 2023). Revenue: kr1.25b (flat on 3Q 2023). Net income: kr2.20m (up kr161.4m from 3Q 2023). Profit margin: 0.2% (up from net loss in 3Q 2023). Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 4.9% 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 91 percentage points per year, which is a significant difference in performance. Buy Or Sell Opportunity • Sep 13
Now 22% overvalued after recent price rise Over the last 90 days, the stock has risen 30% to kr40.50. The fair value is estimated to be kr33.11, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 17% over the last 3 years. Meanwhile, the company became loss making. Buy Or Sell Opportunity • Aug 26
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 48% to kr39.60. The fair value is estimated to be kr32.78, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 17% over the last 3 years. Meanwhile, the company became loss making. New Risk • Aug 25
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 4.0% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (8.1% average weekly change). Shareholders have been diluted in the past year (4.0% increase in shares outstanding). Significant insider selling over the past 3 months (kr1.0m sold). Recent Insider Transactions • Aug 23
Chief Financial Officer recently sold kr1.0m worth of stock On the 21st of August, David Bandele sold around 28k shares on-market at roughly kr37.14 per share. This transaction amounted to 15% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was David's only on-market trade for the last 12 months. Reported Earnings • Aug 16
Second quarter 2024 earnings released: EPS: kr2.95 (vs kr0.46 in 2Q 2023) Second quarter 2024 results: EPS: kr2.95. Revenue: kr1.15b (down 16% from 2Q 2023). Net loss: kr91.8m (down 197% from profit in 2Q 2023). Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 5.0% growth forecast for the Machinery industry in the United Kingdom. Buy Or Sell Opportunity • Jun 17
Now 23% undervalued Over the last 90 days, the stock has risen 57% to kr29.75. The fair value is estimated to be kr38.46, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 20% over the last 3 years. Meanwhile, the company became loss making. 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. New Risk • May 18
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 1.3x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (1.3x net interest cover). Minor Risks Share price has been volatile over the past 3 months (7.3% average weekly change). Significant insider selling over the past 3 months (kr730k sold). Reported Earnings • May 09
First quarter 2024 earnings released: kr0.79 loss per share (vs kr0.14 profit in 1Q 2023) First quarter 2024 results: kr0.79 loss per share (down from kr0.14 profit in 1Q 2023). Revenue: kr1.08b (down 4.0% from 1Q 2023). Net loss: kr157.7m (down kr188.9m from profit in 1Q 2023). Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 4.6% growth forecast for the Machinery industry in the United Kingdom. Over the last 3 years on average, earnings per share has fallen by 49% per year but the company’s share price has only fallen by 16% per year, which means it has not declined as severely as earnings. 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. Reported Earnings • Feb 16
Full year 2023 earnings released: EPS: kr5.66 (vs kr1.55 loss in FY 2022) Full year 2023 results: EPS: kr5.66. Revenue: kr5.19b (up 5.5% from FY 2022). Net loss: kr816.6m (loss widened 162% from FY 2022). Revenue is forecast to grow 9.6% p.a. on average during the next 3 years, compared to a 4.2% growth forecast for the Machinery industry in the United Kingdom. New Risk • Nov 22
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 11% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. This is currently the only risk that has been identified for the company. Buying Opportunity • Nov 10
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 6.3%. The fair value is estimated to be kr32.91, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 23% over the last 3 years. Earnings per share has declined by 19%. New Risk • Aug 20
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 12% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 12% per year for the foreseeable future. Minor Risk Share price has been volatile over the past 3 months (8.7% average weekly change). Reported Earnings • Aug 18
Second quarter 2023 earnings released: EPS: kr11.20 (vs kr0.57 loss in 2Q 2022) Second quarter 2023 results: EPS: kr11.20 (up from kr0.57 loss in 2Q 2022). Revenue: kr1.37b (up 16% from 2Q 2022). Net income: kr94.8m (up kr177.0m from 2Q 2022). Profit margin: 6.9% (up from net loss in 2Q 2022). Revenue is forecast to grow 20% p.a. on average during the next 3 years, compared to a 4.9% growth forecast for the Machinery industry in the United Kingdom. Over the last 3 years on average, earnings per share has fallen by 25% per year but the company’s share price has only fallen by 15% per year, which means it has not declined as severely as earnings. New Risk • Jul 07
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of British stocks, typically moving 7.9% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. This is currently the only risk that has been identified for the company. Reported Earnings • May 12
First quarter 2023 earnings released: kr0.85 loss per share (vs kr0.56 loss in 1Q 2022) First quarter 2023 results: kr0.85 loss per share (further deteriorated from kr0.56 loss in 1Q 2022). Revenue: kr1.26b (up 24% from 1Q 2022). Net loss: kr123.0m (loss widened 52% from 1Q 2022). Revenue is forecast to grow 27% p.a. on average during the next 3 years, compared to a 5.6% growth forecast for the Machinery industry in the United Kingdom. Over the last 3 years on average, earnings per share has fallen by 59% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings. 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. Recent Insider Transactions • Apr 08
Group President & CEO recently sold kr875k worth of stock On the 5th of April, Jon Engeset sold around 27k shares on-market at roughly kr32.85 per share. This transaction amounted to 7.0% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was Jon's only on-market trade for the last 12 months. Breakeven Date Change • Feb 19
Forecast to breakeven in 2025 The 2 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 37% is required to achieve expected profit on schedule. Reported Earnings • Feb 17
Full year 2022 earnings released: kr2.12 loss per share (vs kr1.19 loss in FY 2021) Full year 2022 results: kr2.12 loss per share (further deteriorated from kr1.19 loss in FY 2021). Revenue: kr4.93b (up 39% from FY 2021). Net loss: kr311.6m (loss widened 31% from FY 2021). Revenue is forecast to grow 25% p.a. on average during the next 3 years, compared to a 6.5% 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 74 percentage points per year, which is a significant difference in performance. 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 • Nov 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. Reported Earnings • Nov 04
Third quarter 2022 earnings released: kr0.40 loss per share (vs kr0.28 loss in 3Q 2021) Third quarter 2022 results: kr0.40 loss per share (further deteriorated from kr0.28 loss in 3Q 2021). Revenue: kr1.24b (up 42% from 3Q 2021). Net loss: kr63.2m (loss widened 69% from 3Q 2021). Revenue is forecast to grow 25% p.a. on average during the next 3 years, compared to a 5.4% 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 71 percentage points per year, which is a significant difference in performance. 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 100 percentage points per year, which is a significant difference in performance. 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. Reported Earnings • May 15
First quarter 2022 earnings released: kr0.56 loss per share (vs kr0.47 loss in 1Q 2021) First quarter 2022 results: kr0.56 loss per share (down from kr0.47 loss in 1Q 2021). Revenue: kr1.02b (up 47% from 1Q 2021). Net loss: kr81.0m (loss widened 21% from 1Q 2021). Over the next year, revenue is forecast to grow 25%, compared to a 9.8% 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 95 percentage points per year, which is a significant difference in performance. Board Change • Apr 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. 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 109 percentage points per year, which is a significant difference in performance. Reported Earnings • Feb 19
Full year 2021 earnings: EPS in line with analyst expectations despite revenue beat Full year 2021 results: kr1.64 loss per share (down from kr0.74 loss in FY 2020). Revenue: kr3.54b (up 15% from FY 2020). Net loss: kr240.1m (loss widened 71% from FY 2020). Revenue exceeded analyst estimates by 2.9%. Over the next year, revenue is forecast to grow 28%, compared to a 9.4% 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 106 percentage points per year, which is a significant difference in performance. 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. 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. 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. Reported Earnings • Mar 27
Full year 2020 earnings released: kr0.74 loss per share (vs kr0.62 profit in FY 2019) The company reported a poor full year result with weaker earnings, revenues and control over costs. Full year 2020 results: Revenue: kr3.08b (down 9.8% from FY 2019). Net loss: kr140.8m (down 231% from profit in FY 2019). Over the last 3 years on average, earnings per share has fallen by 51% per year but the company’s share price has increased by 23% per year, which means it is well ahead of earnings. Is New 90 Day High Low • Mar 08
New 90-day low: kr48.48 The company is down 11% from its price of kr54.55 on 08 December 2020. The British market is up 3.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Machinery industry, which is up 3.0% over the same period. Reported Earnings • Feb 20
Full year 2020 earnings released: kr0.80 loss per share (vs kr0.62 profit in FY 2019) The company reported a poor full year result with weaker earnings, revenues and control over costs. Full year 2020 results: Revenue: kr3.08b (down 9.8% from FY 2019). Net loss: kr145.3m (down 235% from profit in FY 2019). Over the last 3 years on average, earnings per share has fallen by 52% per year but the company’s share price has increased by 36% per year, which means it is well ahead of earnings. 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 08
New 90-day high: kr59.95 The company is up 12% from its price of kr53.30 on 09 October 2020. The British market is up 14% over the last 90 days, indicating the company underperformed over that time. It also underperformed 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 kr32.05 per share. Is New 90 Day High Low • Dec 01
New 90-day high: kr59.68 The company is up 11% from its price of kr53.90 on 02 September 2020. The British market is up 7.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Machinery industry, which is up 14% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is kr32.95 per share. 
