Hexpol AB

Hexpol is organized in two business areas: HEXPOL Compounding and HEXPOL Engineered Products. HEXPOL Compounding is engaged as a supplier in the development and manufacture of polymer compounds. HEXPOL Compounding focuses primarily on two key segments of the polymer market: rubber compounding and thermoplastic elastomer compounding. HEXPOL Engineered Products is engaged as a supplier of products such as gaskets for plate heat exchangers and wheels for the forklift industry. The business area also provides rubber profiles, mainly for the construction and engineering industries.
  • TickerHPOL B
  • ISINSE0007074281
  • ExchangeNasdaq Nordic Stockholm
  • SectorChemicals
  • CountrySweden
Karl Bokvist ...
  • Olof Cederholm

Powerpoint Sector Report - The Capital Goods Data Miner – August 2020

Q2 surprised positively, adj. EBIT 44% was above expectations. On average, we left 2020-2021e EBIT unchanged, with good upgrades in Volvo, ABB, Alfa Laval. PMI’s are indicating a return to organic growth in Q4’20, we see upside to forecasts in some of the short-cycle names. The stronger SEK is a headwind and a risk to 2021e adj. EBIT of 4-7% for most companies. We continue to see attraction in mining equipment. Our key long ideas are: Sandvik, Volvo, Metso Outotec, Electrolux We are cautious on: Assa Abloy, Kone, Wärtsilä

Karl Bokvist ...
  • Olof Cederholm

Hexpol - Main peer AirBoss outperforms on margins

Similar volume decline, better margins vs. Hexpol M&A focus remains high among industry participants Neutral for Hexpol, but risk/reward is turning positive

Anders Idborg ...
  • Bengt Jonassen
  • Derek Laliberté
  • Erik Moberg
  • Fredrik Ivarsson
  • Jan Erik Gjerland
  • Karl Bokvist
  • Mads Thinggaard
  • Magnus Andersson
  • Martin Melbye
  • Olof Cederholm
  • Oskar Vikström
  • Øystein Elton Lodgaard
  • Peter Kurt Nielsen
  • Rickard Anderkrans
  • Tobias Kaj
  • Victor Forssell

Talking Points - Kesko (Hold): New guidance looking cautious

Autoliv (Buy) Post-result: Trends supportive for Q3 improvement …could be a touch on the cautious side Stock up 10% YTD, fairly valued

Anders Idborg ...
  • Karl Bokvist
  • Olof Cederholm

Hexpol - No need to rush, despite the trough

Margin shortfall should not be extrapolated Adj. EBIT -11% ’20e, down 3-2% ’21e-’22e Challenges remain, and we remain cautious; HOLD

Anders Idborg ...
  • Karl Bokvist
  • Olof Cederholm

Hexpol - Margins tumble more than expected

14-8% miss on sales, 35-23% miss on adj. EBIT Prel. neg. consensus EBIT revisions of mid-single digits Not the margin development we had hoped for, negative

Karl Bokvist ...
  • Olof Cederholm

Powerpoint Sector Report - The Capital Goods Data Miner – August 2020

Q2 surprised positively, adj. EBIT 44% was above expectations. On average, we left 2020-2021e EBIT unchanged, with good upgrades in Volvo, ABB, Alfa Laval. PMI’s are indicating a return to organic growth in Q4’20, we see upside to forecasts in some of the short-cycle names. The stronger SEK is a headwind and a risk to 2021e adj. EBIT of 4-7% for most companies. We continue to see attraction in mining equipment. Our key long ideas are: Sandvik, Volvo, Metso Outotec, Electrolux We are cautious on: Assa Abloy, Kone, Wärtsilä

Karl Bokvist ...
  • Olof Cederholm

Hexpol - Main peer AirBoss outperforms on margins

Similar volume decline, better margins vs. Hexpol M&A focus remains high among industry participants Neutral for Hexpol, but risk/reward is turning positive

Anders Idborg ...
  • Bengt Jonassen
  • Derek Laliberté
  • Erik Moberg
  • Fredrik Ivarsson
  • Jan Erik Gjerland
  • Karl Bokvist
  • Mads Thinggaard
  • Magnus Andersson
  • Martin Melbye
  • Olof Cederholm
  • Oskar Vikström
  • Øystein Elton Lodgaard
  • Peter Kurt Nielsen
  • Rickard Anderkrans
  • Tobias Kaj
  • Victor Forssell

Talking Points - Kesko (Hold): New guidance looking cautious

Autoliv (Buy) Post-result: Trends supportive for Q3 improvement …could be a touch on the cautious side Stock up 10% YTD, fairly valued

Anders Idborg ...
  • Karl Bokvist
  • Olof Cederholm

Hexpol - No need to rush, despite the trough

Margin shortfall should not be extrapolated Adj. EBIT -11% ’20e, down 3-2% ’21e-’22e Challenges remain, and we remain cautious; HOLD

Anders Idborg ...
  • Karl Bokvist
  • Olof Cederholm

Hexpol - Margins tumble more than expected

14-8% miss on sales, 35-23% miss on adj. EBIT Prel. neg. consensus EBIT revisions of mid-single digits Not the margin development we had hoped for, negative

Thanks to a better fundamental star rating, HEXPOL AB sees an upgrade to Neutral

The independent financial analyst theScreener just awarded an improved star rating to HEXPOL AB (SE), active in the Speciality Chemicals industry. As regards its fundamental valuation, the title receives an improved star rating and now shows 3 out of 4 possible stars. With regard to its market behaviour, it remains unchanged and can be qualified as risky. theScreener considers that these elements allow slightly upgrading its rating to Neutral. As of the analysis date July 3, 2020, the closing price was SEK 69.00 and its expected value was estimated at SEK 70.07.

Ford Equity International Rating and Forecast Report

Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind each recommendation and reflect the fundamental and price data as of the last trading day of the week...

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