Hexatronic Group AB (publ) Interim report January – June 2022
August 11 2022 - 1:00AM
Hexatronic Group AB (publ) Interim report January – June 2022
Hexatronic Group AB (publ)Interim report
January – June 2022
Events during the quarter
- Hexatronic executes share split,
whereupon each share is divided into five shares (share split 5:1)
of the same series.
Events since the end of the quarter
- Hexatronic signs a 3-year strategic
partner agreement with Open Fiber USA, to a value of more than MUSD
40.
Comments from the CEOContinued strong
performance!
The strong start to the year intensified during the second
quarter. We achieved sales growth of 112 percent compared with the
same quarter last year, of which 60 percent was organic growth.
Profitability (EBITA) increased 174 percent equating to a margin of
16,8 percent, which exceeds our target of at least 12 percent by a
good margin. The increase in profitability is primarily a result of
strong performances in the USA and UK, a good product mix, as well
as scale effects with most of our factories operating at high
capacity.
The uncertainty regarding the development of raw material prices
remains. After the end of the second quarter, further substantial
price increases within certain product categories were announced.
Efforts to pass on these price increases to customers are a high
priority, but we estimate that the gross margin will continue to be
negatively affected during the coming quarters.
Sales in our largest market, the USA, continued to develop well,
at a growth rate of 129 percent. The growth is led by sales of our
ducts, as well as sales of Fiber To The Home (FTTH) systems. Since
the end of the quarter, we have signed a comprehensive agreement
with Open Fiber USA for our FTTH system, another sign that our FTTH
system is highly appreciated among our customers. We expect our new
duct factory in Clinton, South Carolina, to begin production during
the fourth quarter of this year. The factory will be a major
contribution to continued organic sales growth.
Sales in Europe excluding Sweden also continue to develop
strongly, primarily driven by strong performances in the UK and
Germany. Sales in the region increased by 122 percent compared with
the corresponding quarter last year. In Germany, the acquisition of
REHAU’s telecom business is contributing strongly to the increase
in sales.
Sales in Sweden were very strong and increased by 64 percent
compared with the corresponding quarter last year, primarily driven
by a positive trend in sales of submarine cable.
Sales in the rest of the world grew by 115 percent, attributable
to our two acquisitions in Australia in 2021.
The order book has continued to develop very positively. We
ended the quarter with an order book that was 154 percent higher
organically than at the same point in the previous year. The strong
order book is well distributed across most of our companies, with
those in the USA accounting for the largest increase.
Welcome to join us on our growth journey.
Henrik Larsson LyonPresident and CEO Hexatronic Group AB
(publ)
Other information
PublicationThis information comprises
disclosures that Hexatronic Group AB (publ) must publish according
to the EU Market Abuse Regulation and the Swedish Securities Market
Act. The information was submitted for publication, under
responsibility of the contact persons named below, on 11 August
2022 at 07:00 CET.
Financial calendarInterim Report July-September
2022: 28 October 2022Year-End Report 2022: 9 February 2023
Please direct any questions to:• Henrik Larsson Lyon, President
and CEO, + 46 (0)70-650 34 00• Pernilla Lindén, CFO, + 46 (0)70-877
58 32
This is HexatronicHexatronic
Group AB (publ) enables non-stop connectivity for communities
worldwide. We partner with customers across four continents – from
telecom operators to network owners – offering leading-edge fiber
technology and solutions for any and all conditions.
Hexatronic Group AB (publ) was founded in 1993 in Sweden, and is
listed on Nasdaq OMX Stockholm. Our global product brands include
Viper, Stingray, Raptor, InOne, and Wistom®.
Hexatronic Group AB (publ) Org nr 556168-6360
- Hexatronic Group - Interim report Q2 2022
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