Hexagon issues profit warning –
Photo: Janerik Henriksson/TT

Hexagon issues profit warning – the stock plummets

The measurement technology company Hexagon's share is plummeting after a warning about an unexpectedly weak first quarter, ahead of the interim report on April 30. Headwinds in China and North America are cited as the reason.

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Preliminary calculations show that net sales will remain at 1.32 billion euro, which can be compared to an average market forecast of 1.35 billion euro according to Bloomberg.

The adjusted operating profit is expected to remain at 345 million euro, compared to expected 382 million euro.

Hexagon's share is plummeting by 9 percent after the so-called profit warning.

"Growth on the important Nafta and China markets decreased during the last two weeks of March, due to economic uncertainty affecting deliveries", writes Hexagon in a press release.

"The management team is closely following the prevailing uncertainty on the end markets and will take measures to adapt the Group's cost base if demand continues to be negatively affected", the company adds.

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AuthorTT News AgencyEnglish edition by Sweden Herald, adapted for our readers
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