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Hexagon Composites ASA: First quarter 2024

OSLO, Norway, May 8, 2024 /PRNewswire/ -- Hexagon Composites (OSE: HEX.OL), world leader in composite cylinder technology and related systems for storage and transportation of clean gaseous energy reported revenues of NOK 1 083 million for first quarter 2024 (Q1'23: 1 130 million). The reported EBITDA was NOK 77 million (Q1'23: 83 million). "Hexagon Agility's Mobile Pipeline distribution business delivered record results for the eighth quarter in a row, offsetting a softer quarter for the other businesses," says Jon Erik Engeset, Group CEO of Hexagon Composites. OutlookDemand for natural gas trucks is expected to ramp up from the second half of 2024 with the new 15-liter engine becoming widely available. Continued growth is also expected in the Mobile Pipeline business, mainly driven by increased production of renewable natural gas (RNG). Hexagon Agility's capacity expansion ...