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Hexagon AB reported a strong first quarter of 2021, with net sales rising by 10% to 977.9 MEUR compared to 889.9 MEUR in Q1 2020. Adjusted operating earnings (EBIT) increased by 34% to 257.9 MEUR. Additionally, earnings before taxes hit 250.3 MEUR, while net earnings reached 205.2 MEUR, reflecting an earnings per share of 0.56 EUR. The company also reported a rise in operating cash flow to 211.9 MEUR, up from 136.9 MEUR.
Hexagon AB announced the acquisition of CADLM SAS, enhancing its capabilities in computer-aided engineering (CAE) with AI and machine learning. CADLM, founded in 1989 in France, specializes in simulation-driven product development. Their software, ODYSSEE, leverages AI for predictive modeling, improving design efficiency. This acquisition strengthens Hexagon's Smart Manufacturing solutions, focusing on product innovation, productivity, and environmental sustainability. The transaction does not significantly impact Hexagon's earnings and will be finalized upon meeting standard conditions.
Hexagon AB has announced its Annual General Meeting (AGM) set for April 29, 2021, to be conducted entirely through postal voting due to COVID-19 restrictions. Shareholders must register by April 21 and submit postal votes by April 28. Key agenda items include the presentation of financial reports for 2020, approval of a €0.65 dividend per share, and elections for the Board of Directors. The meeting will also address the Share Programme 2021/2024 aimed at incentivizing senior employees, along with proposals for share acquisitions and a 7:1 share split.
Hexagon AB has launched R-evolution, a business venture aimed at promoting a sustainable economy through green-tech investments. This initiative follows Hexagon's commitment to reducing its carbon footprint and addressing climate change effectively. The first investments will focus on constructing solar farms, which are expected to reduce CO2 emissions by 50,000 tonnes annually. R-evolution, led by CEO Erik Josefsson, will explore further sustainability projects, including sustainable agriculture and ocean protection, positioning Hexagon as a leader in environmental solutions.
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