Hexagon Purus ASA (HPURF) Q4 2024 Earnings Call Transcript

2025-02-11 10:30:27 ET

Hexagon Purus ASA (HPURF)

Q4 2024 Earnings Conference Call

February 11, 2025 02:30 AM ET

Company Participants

Mathias Meidell - Investor Relations Director

Morten Holum - Group Chief Executive Officer

Salman Alam - Group Chief Finance Officer

Conference Call Participants

Presentation

Mathias Meidell

Hi, and welcome to Hexagon Purus Q4 2024 Presentation. My name is Mathias Meidell, and I am the IR Director of Hexagon Purus. I will be moderating from the studio in Oslo today, and from the studio, I am also joined by Group CEO, Morten Holum; and Group CFO, Salman Alam.

The agenda for today includes, as usual, the highlights from the quarter, a company update, the financials and the outlook. We will end the presentation with a Q&A session. So please feel free to enter your questions via the function on your screen.

And with that, I will pass the word over to you Morten, who will take us through the highlights of the quarter.

Morten Holum

Thank you, Mathias, and good morning, everyone. Thanks for joining our webcast this morning.

We achieved much of what we set out to do in 2024. Firstly, we continued to move the company forward growing full year revenue by 42% versus 2023. Secondly, we significantly improved the EBITDA margin. We had two quarters of positive EBITDA margins in the Hydrogen Mobility & Infrastructure segment and almost achieved full year EBITDA breakeven for that segment.

Thirdly, we completed the multi-year capacity expansion program, giving us a global manufacturing footprint with significant capacity to grow revenue. And lastly, we continued to solidify our position with customers, building a diversified portfolio across several applications.

So let's look at that strong revenue growth in more detail. Revenue for the year was close to NOK1.9 billion, up from just over NOK1.3 billion in 2023. That's a 42% increase, albeit short of the 50% target that we set. LTM EBITDA improved another percentage point in Q4 to minus 19%, which is a full 15 percentage points year-over-year improvement and in line with our expectations....

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