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 2023 Hexagon AB Earnings Call Transcript

Apr 28, 2023 / 08:00AM GMT
Release Date Price: $11.33 (-2.24%)
Operator

Good day, and thank you for standing by. Welcome to the Hexagon Third Quarter Report 2023 Conference Call. (Operator Instructions) Please be advised that today's conference is being recorded.

I would now like to hand the conference over to your speaker today, Paolo Guglielmini. Please go ahead.

Paolo Guglielmini;publ;CEO;President
Hexagon AB

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Yes. Thank you very much, and thank you for joining us today. Let's start from Slide 4 to review some of the highlights from this Q1 2023. We had a good solid quarter, posting net sales of EUR 1.287 billion. That represents an 11% reported growth on prior year with strong organic growth of 8 percentage points through from structure and negligible FX in the quarter. We were pleased to see a good uptick in terms of gross margin up to 66.5%, with all-time high in the quarter, 1.4 percentage points above Q1 2022. I would say primarily driven by volume and pricing, but particularly a richer software mix and new product releases that came in at higher gross margin

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