Key Takeaways
- Hexagon Composites (OSE: HEX) reported second-quarter 2026 revenue of about $66 million (NOK 627 million), down from about $71 million a year earlier.
- EBITDA rose to about $7 million from about $1 million, lifting the EBITDA margin to 11% from 2%.
- The company raised full-year EBITDA guidance from above about $21 million to around $32 million.
- Hexagon Composites makes composite cylinders for storing and transporting clean gaseous energy.
- The improvement reflected progress delivered through the first half of 2026.
Hexagon Composites Reports Second-Quarter 2026 Results
Hexagon Composites (OSE: HEX), the world leader in composite cylinder technology for storing and transporting clean gaseous energy, reported second-quarter 2026 revenue of about $66 million (NOK 627 million). While revenue slipped from about $71 million (NOK 674 million) a year earlier, profitability improved sharply during the period. The company’s cylinders are used to move hydrogen, natural gas and renewable natural gas by road and to store them on site. Figures are converted from Norwegian kroner at about $0.105 per krone.
“We have spent the first half of the year delivering on what we promised. We delivered a significant step up in profitability, supported by our successfully completed cost reduction program,” said Philipp Schramm, chief executive of Hexagon Composites.
A Big Jump in Margin
EBITDA rose to about $7 million (NOK 69 million) from about $1 million a year earlier, taking the EBITDA margin to 11% from 2%. The gain shows the company converting more of its revenue into earnings as it works through its order book, helped by a better product mix and tighter cost control across its plants.
Hexagon Composites Raises Its Outlook
On the strength of its first-half performance, Hexagon Composites raised full-year EBITDA guidance from above about $21 million (NOK 200 million) to around $32 million (NOK 300 million). The higher target points to continued margin improvement across the rest of 2026, even with revenue running slightly below the prior year.
Clean Gaseous Energy Focus
The company’s cylinders support the storage and transport of clean gaseous fuels, a niche tied to the shift away from higher-emission energy carriers. As fleets and industrial users adopt hydrogen and renewable natural gas, demand for that storage-and-transport infrastructure underpins the improved quarter.
