Hexagon has reported a strong second quarter of 2011 with organic growth in net sales of 13 per cent, at €543.5M, and EBIT earnings up by 81%, at €114.3 M.
Commenting on the results released on August 4th, Ola Rollén, president & CEO, Hexagon said, ”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,”