Hexatronic provides a trading update in light of the recent share price movement
Press release
September 22, 2023
Gothenburg, Sweden
Hexatronic provides a trading update in light of the recent share price movement
In connection with Hexatronic Group AB (publ) (“Hexatronic” or “the Company”) announcing its interim report for the second quarter of 2023 on August 15, 2023, the Company forecasted the market to have lower or no growth during the second half of 2023. Following softer market conditions in primarily the US and Germany in the subsequent period, Hexatronic foresees a negative organic revenue growth during the second half of 2023. However, we expect the EBITA margin to align with our financial target of 15-17% during the second half of 2023.
The macroeconomic situation, with high inflation and interest rates, has resulted in increased construction costs and customers becoming more cautious in making investment decisions.
Hexatronic’s view of a significant structural need to expand and strengthen communication networks across the Company’s strategic markets remains firm in the mid-term.
The Company’s interim report for the third quarter of 2023 will be published on October 27, 2023, at 07:00 am (CEST).
Gothenburg, September 22, 2023
Henrik Larsson Lyon
CEO Hexatronic Group
For more information, please contact:
Henrik Larsson Lyon, CEO Hexatronic Group, +46 706 50 34 00
Pernilla Lindén, CFO Hexatronic Group, 2
This is information that Hexatronic Group AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 13.00 CEST on September 22, 2023. This is a translation of the Swedish version of the press release. When in doubt, the Swedish wording prevails.
Hexatronic creates sustainable networks all over the world. We partner with customers on four continents – from telecom operators to network owners – and offer leading, high-quality fiber technology for every conceivable application. Hexatronic Group (publ.) was founded in Sweden in 1993 and the Group is listed on Nasdaq OMX Stockholm. Our global brands include Viper, Stingray, Raptor, InOne, and Wistom®.
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