Hexagon Purus: Mixed Q3 2025 sees revenue decline amid restructuring efforts
Hexagon Purus ASA reported Q3 2025 revenue of NOK 252 million, a 54% year-over-year decrease but a 30% sequential increase. This was driven by higher hydrogen distribution module deliveries and strong demand in transit bus and aerospace applications. The company’s EBITDA for the quarter was NOK -116 million (Q3 2024: NOK -51 million), including NOK 31 million in restructuring costs, resulting in an EBITDA margin of -46%. Adjusted for restructuring and a one-off payment, HMI EBITDA was NOK -28 million, a -12% margin.
Hexagon Purus completed its second round of workforce reductions in Germany, aiming for a total ~30% reduction compared to 2024 levels, with full P&L impact expected from 2026. This, combined with a leaner cost base, is anticipated to improve financial performance and reduce cash burn. The company ended the quarter with an order backlog of approximately NOK 1.0 billion, indicating good revenue visibility for the remainder of 2025.
Total assets stood at NOK 3,988 million, with cash and cash equivalents at NOK 360 million. Net cash flow from operating activities was NOK -115 million. The ongoing portfolio review and cost-cutting initiatives are targeted at achieving EBITDA and cash break-even.
This report was generated by FilingReader's AI system from regulatory filings and company disclosures. To request a correction, contact editorial@filingreader.com
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