Hexagon AB (OTCPK:HXGBY)
$ 9.61 -0.045 (-0.47%) Market Cap: 25.92 Bil Enterprise Value: 29.68 Bil PE Ratio: 23.78 PB Ratio: 2.46 GF Score: 92/100
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Q1 2019 Hexagon AB Earnings Call Transcript

May 07, 2019 / 08:00AM GMT
Release Date Price: $7.14 (-2.95%)
Operator

Hello, everyone, and welcome to the Hexagon Q1 Report 2019. (Operator Instructions)

I'll now hand the call over to Ola Rollén. Please go ahead with your meeting.

Ola RollÃ;n;publ;CEO
Hexagon AB;President & Director

© - ()- -

Thank you, and welcome to this Q1 earnings call for 2019. And I suggest we start with Slide #4, overview of the first quarter 2019. We report an organic growth of 4% in the quarter and the operating net sales growth is 10% recorded. So we saw solid growth in PI, Geosystems and PP&M, and MI had 4% organic growth.

Growth was hampered by the continued decline in Safety & Infrastructure. And as we will see in a few slides, actions have been taken to ensure improvements throughout 2019. Excluding SI, the organic growth was above 6% in the quarter.

Record earnings and profitability in the quarter. The gross margin came in at 62.6%, which is a new record for us. The EBIT margin came in at 24.1%, which is the strongest first quarter ever for Hexagon. And

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