From GlobeNewswire:

Hexatronic Group AB (publ) reported strong operating cash flow and continued growth in new areas for the year-end report of January-December 2023. The net sales for the fourth quarter increased by 4 percent to MSEK 1,861, with an EBITA margin of 9.1 percent. Hexatronic acquired USNet and entered into a new senior term loan facility agreement during the quarter. The company initiated a cost savings program and announced a lower short-term outlook for 2023. The board proposed no payment of dividend for the financial year 2023. CEO comments highlighted the company’s focus on operating cash flow and strategic growth in Harsh Environment and Data Center.

The company’s profitability aligned with previous communication, with EBITA margin of 13.1 percent for the second half of 2023. Hexatronic experienced continued growth in Harsh Environment and Data Center, which accounted for almost a third of group sales and positively contributed to the EBITA margin. North America showed sales growth of 15 percent, Europe was in line with previous year’s sales, and APAC showed a 12 percent sales growth. The company reported a strong operating cash flow and continued financial flexibility. Hexatronic also expects lower investments and acquisitions in 2024, following extensive investments in the previous two years.



Read more: Hexatronic Group AB (publ) Year-end report January –