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Hexatronic Presents Interim Report Q3, 2023
Strong acquisition growth and profitability in line with targets
During the third quarter, sales continued to increase with a growth of 11 percent compared to the corresponding period last year, driven by acquisitions. As previously communicated, we noted softer market conditions in the US and Germany, which resulted in an organic decline in sales of 13 percent during the quarter. Despite a softer market, we delivered an EBITA margin of 15.4 percent.
Strategic investments, acquisitions, customer orientation, and an excellent corporate culture are behind our strong performance. The roll-out of fiber networks in our key markets continues to progress. With Hexatronic’s efficient system solutions, we can strengthen our position and grow faster than the market.
In 2022, we reached a new pace of growth. We had very high profitability and extremely strong growth at 88% of which 53% organically. Our geographic sales mix has positively impacted profitability, and we benefit from the scale effects of high-capacity utilization. In several markets, demand has exceeded supply, keeping prices up.
In 2022, we signed acquisition agreements with four new companies. IDS (UK), homeway (Germany), Rochester Cable (USA, closing 2023), and KNET (South Korea). These acquisitions give us a local presence and a pathway into key markets, but they also complement our offering and strengthen our capabilities.
Hexatronic enables non-stop connectivity for communities worldwide. We partner with customers across four continents – from telecom operators to network owners – offering leading-edge fiber technology and solutions for any and all conditions.
Together, the companies in Hexatronic Group develop products and world-class solutions that create development opportunities for people across the world.
We grow organically and through aquisitions.
Our organic growth takes place by continuously developing our market presence with strong local organizations, and continuously developing our offering and adding value services such as servicing, aftermarket sales, support and training.
Our acquisitions strengthen and complement the Group through solid local market presence, knowledgeable and experienced employees, and good market familiarity.