Hexagon Purus ASA: Results for the first quarter 2021
In the first quarter of 2021, Hexagon Purus Group generated NOK 57 (48) million in revenue and recorded operating profit before depreciation (EBITDA) of NOK -62 (-43) million. Revenue growth was driven by increased activity in hydrogen distribution applications as well as aerospace with slightly lower revenue contribution from heavy duty vehicle applications due to the completion of a battery electric (BEV) truck demonstration program in Q1 2020. Continued investments in personnel and infrastructure to support and accelerate Hexagon Purus’ future growth drive negative profitability.