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Hexagon AB (HEXAb.ST)

HEXAb.ST on Stockholm Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Hexagon says acquire Atlanta based Catavolt
Tuesday, 9 May 2017 09:00am EDT 

May 9 (Reuters) - Hexagon AB :Says furthers its Smart X strategy with the acquisition of Catavolt, a US-based mobile app platform provider.Says Catavolt, founded in 2009 with headquarters in Atlanta, GA, offers an end-to-end platform for mobile application development and delivery, secure cloud orchestration and edge computing (real-time).  Full Article

Hexagon CEO says believes PPM division will return to growth in H2
Tuesday, 2 May 2017 08:02am EDT 

May 2 (Reuters) - Hexagon CEO Ola Rollen in news agency conference call after Q1 results:Hexagon CEO says believes PPM division will return to growth in H2.PPM, which has high exposure to the oil industry, posted an 11 pct organic sales drop in Q1.  Full Article

Hexagon proposes Gun Nilsson new chairwoman
Monday, 6 Feb 2017 02:05am EST 

Hexagon : Says nomination committee proposes Gun Nilsson as new chairman and Hans Vestberg as vice chairman . Also proposes election of John Brandon, Henrik Henriksson, Sofia Schorling Hogberg and Marta Schorling Andreen as new board members .As previously announced, Melker Schorling will leave the Board as of the AGM 2017 due to health reasons.  Full Article

Hexagon Q4 core profit, growth lags forecasts
Monday, 6 Feb 2017 02:05am EST 

Hexagon : Q4 . Net sales increased by 4 per cent to 849.5 MEUR (815.7). Using fixed exchange rates and a comparable group structure (organic growth), net sales increased by 2 per cent . Q4 operating earnings (EBIT1) increased by 6 per cent to 208.7 meur (197.8) . Hexagon says board of directors proposes a dividend of 0.48 eur (0.43) per share, an increase of 12 per cent . Reuters poll: Hexagon Q4 organic sales growth was seen at 3.6 pct, adj EBIT 212 mln euros .Says PPM continued to face challenges in the oil and gas market and we are taking actions to enable future growth and reduce costs..  Full Article

Hexagon launches cost savings programme
Monday, 6 Feb 2017 01:59am EST 

Hexagon : Hexagon to launch a cost savings programme . Programme will affect approximately 480 employees . Syas expected to drive cash cost savings of approximately 24 MEUR in 2017 and 43 MEUR per annum as of 2018 when fully implemented . Q4 cash flow impact of programme amounts to approximately -34 MEUR. .Q4 restructuring costs will be reported as non-recurring items (NRI) in q1 2017..  Full Article

Hexagon says to buy U.S-based MSC Software in $834 mln deal
Thursday, 2 Feb 2017 02:05am EST 

Hexagon : Hexagon enters into agreement to acquire MSC Software, a leading provider of CAE (simulation) software . Says purchase price of 834 MUSD on a cash and debt free basis (enterprise value) . Says in 2016 MSC generated proforma sales of 230 MUSD, with strong profitability and a high percentage of recurring revenue . Says transaction will be fully financed via bank facilities and hexagon's net debt to EBITDA target of 2.5 will not be exceeded . The acquisition will further strengthen Hexagon's smart connected factory strategy to deliver enterprise solutions within manufacturing verticals . MSC is headquartered in Newport Beach, CA, United States, and has over 1,200 staff .Completion of the transaction (closing) is subject to regulatory approvals and other customary conditions which is expected in April.  Full Article

Hexagon sets new five-year growth, profitability goals
Thursday, 1 Dec 2016 09:18am EST 

Hexagon : Hexagon launches new financial plan at capital markets day . Says new five-year financial plan stretching to 2021 . Says base case scenario: sales targets of 4.6 billion EUR and EBIT margin of 27 percent . Says sales target is built upon assumption that hexagon achieves an average sales growth of 8 percent per year, whereof approximately 5 percent is assumed to be organic growth . Says opportunity case scenario: sales target of 5.1 billion EUR and EBIT margin of 28 percent . Hexagon had sales of 2.3 billion euro and an EBIT margin of 22.9 percent in the first nine months of 2016 . Says organic growth is to be reached through a combination of new initiatives/applications and development of existing portfolios, supported by higher sales growth of software and solution-centric business . Says board would like to reiterate its full support for Ola Rollen to continue as president and CEO for Hexagon following ongoing insider trading investigation . Says our lawyers and independent legal experts in Norway have now got opportunity to study prosecutor's complete material of investigation . Says their assessment stands firm - allegations against Ola Rollen are meritless and he should therefore be completely cleared of charges.  Full Article

Hexagon CEO says acquisition prices currently at all-time high
Monday, 8 Aug 2016 08:30am EDT 

Hexagon CEO Ola Rollen in conference call with reporters: Says seeing acquisition prices at all-time high levels, has around 2 billion euros ($2.22 billion) to buy for without making share issue . Says on high acquisition prices: "That holds for pretty much all industries that I have insight in" Further company coverage: [HEXAb.ST] ($1 = 0.9022 euros) (Reporting by Johannes Hellstrom) ((johannes.hellstrom@thomsonreuters.com; +4687001008; Reuters Messaging: johannes.hellstrom.reuters.com@reuters.net)).  Full Article

Hexagon CEO says U.K. sales have stabilized in Q3 after Q2 hit by Brexit fears
Monday, 8 Aug 2016 08:11am EDT 

Hexagon CEO Ola Rollen in conference call with reporters: Says negative effect from Brexit worries on Q2 sales in the U.K. has subsided in July . Says saw a fairly sharp slowdown in the U.K. both ahead of and the week after Brexit vote, has stabilized since . Says saw underlying sales decline of 25 pct in the U.K. in Q2 . Says the U.K. makes up 4 pct of group sales, with main part in construction Further company coverage: [HEXAb.ST] (Stockholm Newsroom) ((stockholm.newsroom@thomsonreuters.com; +46 (0)8-700 10 10;)).  Full Article

Hexagon Q2 core earnings just lag forecasts
Monday, 8 Aug 2016 07:00am EDT 

Hexagon AB : Q2 using fixed exchange rates and a comparable group structure, net sales increased by 3 per cent . Q2 operating earnings (EBIT1) increased by 6 per cent to 187.1 MEUR (177.3) . Reuters poll: Hexagon Q2 organic sales growth was seen at 3 percent, EBIT 189 million euros ($209.41 million) . Shares drop 1.7 pct at 1110 GMT, was down 0.9 pct ahead of results . Says while growth accelerated in manufacturing and remained strong in construction, the oil and gas business experienced a weaker quarter due to tough comparison numbers and postponed opportunitites . Says we believe Q3 will produce similar results in this segment (pp&m) before turning to positive growth in Q4. . Says Western Europe recorded 8 pct organic growth with strong growth in Germany, France, Spain and the Nordic countries . Says the UK however, impacted by market uncertainties related to Brexit, recorded double digit negative growth . Says in the Americas, North America recorded positive organic growth .Says organic growth in China was 6 pct.  Full Article

More From Around the Web

BRIEF-Hexagon appoints Ben Maslen as new Chief Strategy Officer

* Maslen has over 15 years of experience in the capital markets industry including being co-head of the European Capital Goods equity research team at Morgan Stanley Source text for Eikon: Further company coverage: (Stockholm Newsroom)