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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Q2 2024 Hexagon AB Earnings Call Transcript

Jul 26, 2024 / 08:00AM GMT
Release Date Price: $9.89 (-3.04%)
Paolo Guglielmini
Hexagon AB - President, Chief Executive Officer

Good morning, and thank you all, for joining our Q2 2024 earnings call. Despite the headwinds in our core markets, we have delivered a solid quarter of incremental operational and strategic improvements. In this Q2, we recorded sales of EUR1,353 million, impacted by weakness in the construction sector and slowing investments in automotive affecting sales of our sensing and robotic systems.

Growth in recurring revenues remained strong, nevertheless, up 8 percentage-points to EUR560 million, driven by subscriptions and SaaS revenue momentum. In Q2. We also have hit a new all-time high of 67.3 percentage-points of gross margin, very importantly, making incremental improvements across all of the five divisions.

This gain is the result of investments in innovation to constantly optimize the cost structure of our portfolio came through diligent pricing to counter inflation, favorable mix and operational improvements. More of the manufacturing intelligence and SIG divisions benefited from the divestment of non-strategic

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