High activity in the emerging markets continues, supporting strong growth, while the mature markets continue to recover.
”The strength of having a geographically and operationally diversified business shows in the second quarter. We post a solid organic growth of 13 per cent primarily driven by the emerging markets and by the engineering and energy related segments. The strength of our core business is evidenced by the increase in gross margin to 55 per cent and the increase in the operating margin to 22 percent, in spite of significant currency headwinds in the quarter. While we recognise the uncertainty surrounding the macro outlook, we feel confident that our business mix will provide plenty of opportunities to continue to grow in the second half of the year,” says CEO Ola Rollén, President & CEO, Hexagon AB.
Second Quarter 2011:
• Operating net sales increased by 13* per cent to 543.5 MEUR (350.8)
• Operating earnings (EBIT1) increased by 81 per cent to 114.3 MEUR (63.3)
• Earnings before taxes, excluding non-recurring items** amounted to 99.5 MEUR (59.6)
• Net earnings, excluding non-recurring items** amounted to 78.9 MEUR (51.2)
• Earnings per share increased by 29 per cent to 0.22 EUR (0.17)
* Adjusted to fixed exchange rates and a comparable Group structure, i.e. organic growth.
**Non-recurring reduction of acquired deferred revenue in Q2 2011 related to the acquisition of Intergraph.
For further information please contact: Mattias Stenberg, Vice president Strategy & Communications, Hexagon AB, 46 8 601 26 27, ir[.]hexagon.com
About Hexagon AB
Hexagon (hexagon.com) is a leading global provider of design, measurement and visualisation technologies. Our customers can design, measure and position objects, and process and present data, to stay one step ahead of a changing world. Hexagon's solutions increase productivity, enhance quality and allow for faster, better operational decisions, saving time, money and resources. Hexagon has over 12 000 employees in more than 40 countries and net sales of about 2 200 MEUR. Our products are used in a broad range of industries including surveying, power and energy, aerospace and defence, safety and security, construction and manufacturing.