Hexagon Purus ASA: Preliminary unaudited Q4 and full-year 2024 results

(Oslo, Norway, 23 January 2024) Ahead of Hexagon Purus’ (“the Company”) financial reporting for Q4 2024 and preliminary full-year 2024 on 11 February 2025, the Company would like to provide the following preliminary estimates and unaudited figures for Q4 2024 and full-year 2024:

Q4 2024 revenue of approximately NOK 396 million and full-year 2024 revenue of approximately NOK 1,876 million. This is equivalent to FY 2024 revenue growth of approximately 42%, compared with expectations of at least 50% revenue growth. The shortfall versus expectations is predominantly due to delay of completion of certain customer deliveries, which is expected to be completed in 2025, and certain customer orders being shifted from 2024 to 2025
Q4 2024 EBITDA of approximately NOK -104 million and full-year 2024 EBITDA of approximately NOK -348 million. This is equivalent to a FY 2024 EBITDA margin of approximately -19%, representing a significant improvement compared to FY 2023 EBITDA margin of -34%

The above numbers are unaudited and reflect estimates as of the date hereof and may therefore be subject to change. The financial results for Q4 2024 and preliminary full-year 2024 and outlook will be published on 11 February 2025.

For more information:

Mathias Meidell, Investor Relations Director, Hexagon Purus
Telephone: +47 909 82 242 | mathias.meidell@hexagonpurus.com

About Hexagon Purus

Hexagon Purus enables zero emission mobility for a cleaner energy future. The company is a world leading provider of hydrogen Type 4 high-pressure cylinders and systems, battery systems and vehicle integration solutions for fuel cell electric and battery electric vehicles. Hexagon Purus' products are used in a variety of applications including light, medium and heavy-duty vehicles, buses, ground storage, distribution, refueling, maritime, rail and aerospace.

Learn more at www.hexagonpurus.com and follow @HexagonPurus on X and LinkedIn.

This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act