Hexagon Composites ASA (HXGCF) Q4 2024 Earnings Call Transcript

2025-02-13 15:25:18 ET

Hexagon Composites ASA (HXGCF)

Q4 2024 Results Conference Call

February 13, 2025 02:30 AM ET

Company Participants

Knut Flakk - Chairman and Founder

Philipp Schramm - Chief Executive Officer

David Bandele - Chief Financial Officer

Conference Call Participants

Fabian Jorgensen - Carnegie

Elliott Jones - Danske Bank

Presentation

Knut Flakk

Good morning, everyone. Welcome to Hexagon Composites Q4 2024 Presentation. My name is Knut Flakk. I'm the Chairman and the Founder of Hexagon Composites, and I'm very pleased to be here today and see all of you. And I'd like to just take a quick step back to 20 -- or not 2020, but 2000 when we founded the Company, and we went public.

At that point in time, we had roughly NOK100 million in sales, so just north of NOK100 million. And during the first 10 years, we managed to get to NOK1 billion. So, we made10x, and that was under the leadership of Erik Espeseth. Then in 2013, Jon Erik Engeset took charge, and he brought the Company from NOK1 billion to NOK5 billion roughly. And I'd like to thank Jon Erik for his achievements and for his strong contribution over these years.

He's done a fantastic job, and he finished his duty as a CEO by the end of 2024. So what you see here today is much to his honor. And then we will obviously introduce you to the next CEO. But before I do so, I'd like to mention just two main reasons why have we succeeded in going from NOK100 million to NOK5 billion in 25 years, 50x the size we were 25 years ago. I think the main thing is that we have stayed true to our core philosophy, which is to make the best possible products, the highest quality products at the lowest possible cost.

That has given us advantages over and above the competition that has made it possible for us to stay ahead and to make the green shift a reality. The other thing is that we have -- we have gathered a group of fantastic people, very talented, strong people from the floor, shop floor and all the way up to the top management. So in that context, I'm very, very pleased to welcome Philipp Schramm as the new CEO of Hexagon Composites. Philipp has extensive background from the automotive industry, both in Europe and in North America. And I'm certain that Philipp will manage to take the Company to the next level because we are not going to stop where we are today....

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