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ABGSC Renewable Energy Research ... (+8)
  • ABGSC Renewable Energy Research
  • Adrian Gilani
  • Åsne Holsen
  • Daniel Vårdal Haugland
  • Haakon Amundsen
  • John Olaisen
  • Olof Cederholm
  • Stian Wibstad

Renewable Weekly – 29 April 2024

This week, we summarise our Q1 previews for the sector.

ABGSC Renewable Energy Research ... (+3)
  • ABGSC Renewable Energy Research
  • Haakon Amundsen
  • Stian Wibstad

All about Cummins' 15L engine launch

Q1e EBITDA of NOK 68m – minor estimate changes. We expect newsflow related to Cummins' 15L with the Q1 report. BUY, TP down to NOK 23 (28) on lower HPUR valuation.

 PRESS RELEASE

Hexagon Composites ASA - Participation in Hexagon Purus' contemplated ...

Hexagon Composites ASA - Participation in Hexagon Purus' contemplated convertible bond private placement 20 December 2023: Reference is made to the stock exchange announcement from Hexagon Purus ASA ("Hexagon Purus" or the "Company") published 20 December 2023 at 16:31 (CET) whereby the Company announced the launch of a contemplated private placement of senior unsecured convertible bonds (the “Convertible Bonds”) raising gross proceeds of up to approximately NOK 1,000 million (the “Convertible Bond Private Placement”). The Convertible Bond Private Placement is supported by Hexagon Composit...

 PRESS RELEASE

Hexagon Composites ASA: Third quarter 2023

Hexagon Composites ASA: Third quarter 2023 9 November 2023: Hexagon Composites (OSE: HEX.OL), world leader in composite cylinder technology and related systems that enable safe delivery of clean gaseous energy for mobility, distribution, industries and homes, reported revenues of NOK 1 252 (1 080) million in the third quarter 2023.  This represents 16% growth compared to the same quarter last year, mainly driven by record high activity in Hexagon Agility’s Mobile Pipeline distribution business. The reported EBITDA was NOK 124 (68) million, after NOK 12 million in costs related to the ongoin...

 PRESS RELEASE

Hexagon Agility receives inaugural order for Mobile Pipeline® TITAN 45...

Hexagon Agility receives inaugural order for Mobile Pipeline® TITAN 450 modules from Promigas Peru S.A. 30 October 2023: Hexagon Agility, a subsidiary of Hexagon Composites, has received an inaugural order for Mobile Pipeline® TITAN 450 modules from Promigas Peru, a subsidiary of Promigas and a leading energy distributor of natural gas for the Peru market. The order represents an estimated value of USD 9 million (approx. NOK 100 million). Promigas Peru enables customers without pipeline access to transition to lower carbon energy. The new TITAN 450 modules will complement Promigas Peru's ...

 PRESS RELEASE

Hexagon Composites ASA: Invitation to presentation of Q3 2023 results

Hexagon Composites ASA: Invitation to presentation of Q3 2023 results 26 October 2023: Hexagon Composites ASA's third quarter results of 2023 will be released on 9 November 2023 at 07:00 am CET. Jon Erik Engeset, CEO and David Bandele, CFO will present the results at 08:30 the same morning. The presentation will be held in the Auditorium at Hexagon's location in Oslo, Haakon VIIs gate 2, on the lower level. If you would like to attend the presentation, please pre-register by emailing , alternatively register upon arrival. The presentation will also be broadcasted live via: Fo...

 PRESS RELEASE

Gasco Saudi Arabia and Hexagon Ragasco sign a five-year distribution a...

Gasco Saudi Arabia and Hexagon Ragasco sign a five-year distribution agreement for new, custom-sized LPG cylinders. 18 October 2023: National Gas and Industrial Company (Gasco), the largest Liquefied Petroleum Gas (LPG) distributor in the Kingdom of Saudi Arabia, and Hexagon Composites' subsidiary Hexagon Ragasco have signed a long-term distribution agreement. The five-year contract (2023-2028) covers the provision and distribution of custom-made LPG cylinders on the Saudi Arabian domestic market and is valued at approximately 20 million euros. Gasco has played a significant role in the ...

Hexagon Composites ASA: 1 director

A director at Hexagon Composites ASA sold 5,300,000 shares at 28.000NOK and the significance rating of the trade was 73/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two yea...

Helene Kvilhaug Brøndbo
  • Helene Kvilhaug Brøndbo

Hexagon Composites (No_rec, TP: NOK) - Initiates strategic review of R...

Seeing substantial growth opportunities for Ragasco (Hexagon Composites’ LPG cylinder business) outside its core market in Europe, the company has initiated a strategic review for the business. We believe a sale of Ragasco would leave the company fully focused on its core mobility-related business (Agility) as well as enhance liquidity. Given DNB Markets’ role in the strategic review of the company’s LPG business, we have withdrawn our target price and recommendation.

 PRESS RELEASE

Hexagon Composites initiates strategic review of its LPG cylinder busi...

Hexagon Composites initiates strategic review of its LPG cylinder business 26 September 2023: Hexagon Composites’ (OSE: HEX.OL) wholly owned subsidiary, Hexagon Ragasco (the “Company”) is the global market leader in composite cylinders for liquid petroleum gas (LPG) with more than 22 million cylinders sold to over 100 countries worldwide. Its portfolio of products, used for leisure, household, and industrial applications, are manufactured in its highly automated production facility in Norway. Today, Hexagon Composites announces a strategic review of the Company. Hexagon Ragasco is currentl...

 PRESS RELEASE

Hexagon Composites ASA: Share buyback program completed

Hexagon Composites ASA: Share buyback program completed 14 September 2023: With reference to the share buyback program announced 18 August 2023, Hexagon Composites ASA ("the Company") has from 7 to 14 September 2023 purchased 476,880 of its own shares. The shares were purchased at an average price of NOK 37.3105 per share. An overview of daily share purchases, as well as a detailed overview of all transactions made under the share buyback program is attached. Date on which the buyback program was announced: 18 August 2023 The duration of the buyback program: 18 August 2023 until 31 Octob...

 PRESS RELEASE

Hexagon Composites ASA: Share buyback program status

Hexagon Composites ASA: Share buyback program status 6 September 2023: With reference to the share buyback program announced 18 August 2023, Hexagon Composites ASA ("the Company") has from  29 August to 6 September 2023 purchased 501,398 of its own shares. The shares were purchased at an average price of NOK 37.6778 per share. An overview of daily share purchases, as well as a detailed overview of all transactions made under the share buyback program is attached. Date on which the buyback program was announced: 18 August 2023 The duration of the buyback program: 18 August 2023 until 31 O...

 PRESS RELEASE

Hexagon Composites ASA: Share buyback program status

Hexagon Composites ASA: Share buyback program status 28 August 2023: With reference to the share buyback program announced 18 August 2023, Hexagon Composites ASA ("the Company") has purchased 392,102 of its own shares. The shares were purchased at an average price of NOK 33.88 per share. An overview of daily share purchases, as well as a detailed overview of all transactions made under the share buyback program is attached. Date on which the buyback program was announced: 18 August 2023 The duration of the buyback program: 18 August 2023 until 31 October 2023 Size of the buyback ...

Douglas Lindahl ... (+14)
  • Douglas Lindahl
  • Håkon Astrup
  • Helene Kvilhaug Brøndbo
  • Joachim Gunell
  • Johannes Grunselius
  • Jørgen Lian
  • Karl-Johan Bonnevier
  • Martin Arnell
  • Niclas Gehin
  • Ole-Andreas Krohn
  • Patrik Ling
  • Rune Majlund Dahl
  • Simen Mortensen
  • Stefan Gauffin
 PRESS RELEASE

Hexagon Composites ASA: Initiation of share buyback program to fulfil ...

Hexagon Composites ASA: Initiation of share buyback program to fulfil incentive programs obligations 18 August 2023: Hexagon Composite ASA has decided to initiate a buyback of up to 2,000,000 of its own shares for an amount up to NOK 50 million. The buyback program may be carried out in the period from this announcement and until 31 October 2023. The[DB1]  purpose of the program is to fulfil the Company's obligations under its incentive programs. Hexagon Composites has engaged a third party to carry out the share buybacks in the market. The third party will make its trading decisions ind...

 PRESS RELEASE

Hexagon Composites ASA: Settlement of Restricted Share Units

Hexagon Composites ASA: Settlement of Restricted Share Units 18 August 2023: Reference is made to the announcement on 29 July 2020, in which Hexagon Composites ASA (the "Company") announced the provisional award of Restricted Share Units ("RSUs") under a Long-Term Incentive Program (LTIP) to align the interests of the participating employees with those of the Company's shareholders. Each vested RSU give the holder the right to receive one share in the Company at an exercise price corresponding to the par value of the shares being NOK 0.10. The total program ended at 85,058 RSUs. The tran...

Helene Kvilhaug Brøndbo
  • Helene Kvilhaug Brøndbo

Hexagon Composites (Hold, TP: NOK32.00) - Dividends on the horizon

With a faster than expected margin recovery in Agility in Q2, we have raised our 2023–2025e EBITDA by 18–24%. Having deleveraged to 2.4x, the company has started to speak vaguely about potentially paying cash dividends. With margins still rebounding, and some remaining capex related to its capacity expansion and refinancing set for H2 2024, we do not expect any meaningful dividends prior to 2025. We reiterate our HOLD, but have increased our target price to NOK32 (31) on higher estimates.

 PRESS RELEASE

Hexagon Composites ASA: Second quarter 2023

Hexagon Composites ASA: Second quarter 2023 17 August 2023: Hexagon Composites (OSE: HEX.OL), world leader in composite cylinder technology and related systems that enable safe delivery of clean gaseous energy for transportation, industries and homes, reported record high revenues of NOK 1 368 (1 034) million (excluding Hexagon Purus) in the second quarter 2023.  This represents 32% growth compared to the same quarter last year, driven by higher volumes and improved pricing. The EBITDA reached NOK 148 (90) million. On 29 June, the board of directors of Hexagon Composites ASA resolved to d...

 PRESS RELEASE

Hexagon Agility receives significant order for Mobile Pipeline® next g...

Hexagon Agility receives significant order for Mobile Pipeline® next generation TITAN modules from Certarus 10 August 2023: As previously disclosed, Hexagon Agility, a business of Hexagon Composites, signed a multi-year agreement in March 2021 with Certarus, a leading full-service provider of bulk gas transport, to supply Mobile Pipeline® modules for compressed gases. Under this agreement, Hexagon Agility has received an additional order estimated at USD 54 million (approx. NOK 553 million). This is the largest single order for Mobile Pipeline ever received.  As the indust...

Alexander Aukner ... (+4)
  • Alexander Aukner
  • Helene Kvilhaug Brøndbo
  • Martin Huseby Karlsen
  • Ole-Andreas Krohn
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