Daimler Truck North America and Hexagon Purus end supply agreement for battery electric vocational vehicles
October 04 2024 - 1:55AM
UK Regulatory
Daimler Truck North America and Hexagon Purus end supply agreement
for battery electric vocational vehicles
(4 October 2024 – Oslo, Norway) Reference is made to the stock
exchange release by Hexagon Purus ASA (“Hexagon Purus” or the
“Company”) on 14 August 2023, where Hexagon Purus and Daimler Truck
North America (“DTNA”) signed a long-term agreement for complete
vehicle integration of battery electric vocational vehicles.
The parties have today mutually agreed to terminate the
2024-2027 supply agreement, and DTNA will reimburse Hexagon Purus
for certain costs that the Company has undertaken related to this
agreement.
The decision unlocks capacity to address other near-term
opportunities for strategically attractive battery electric
commercial vehicle programs with higher volume and margin
potential. It also enables the Company to enhance its focus on the
operational execution and scale-up of its long-term agreement for
the supply of battery electric trucks to Hino Trucks.
The Company maintains its financial guidance for 2024 and still
expects revenue growth of at least 50% year-over-year for 2024, and
a significant year-over-year improvement in the Company’s EBITDA
margin. For 2025, based on preliminary estimates, the Company
expects revenue growth of at least 50% year-over-year and continued
significant improvement in EBITDA margin. The Company expects to
reach EBITDA break-even during 2026.
For more information:
Mathias Meidell, Investor Relations Director, Hexagon Purus
Telephone: +47 909 82 242 |
mathias.meidell@hexagonpurus.com
Salman Alam, CFO, Hexagon Purus
Telephone: +47 476 12 713 | salman.alam@hexagonpurus.com
About Hexagon Purus
Hexagon Purus enables zero emission mobility for a cleaner
energy future. The company is a world leading provider of hydrogen
Type 4 high-pressure cylinders and systems, battery systems and
vehicle integration solutions for fuel cell electric and battery
electric vehicles. Hexagon Purus' products are used in a variety of
applications including light, medium and heavy-duty vehicles,
buses, ground storage, distribution, refueling, maritime, rail and
aerospace.
Learn more at www.hexagonpurus.com and follow @HexagonPurus on X
and LinkedIn.
This information is subject to the disclosure requirements
pursuant to Section 5-12 the Norwegian Securities Trading Act. This
information is considered to be inside information pursuant to the
EU Market Abuse Regulation.
This stock exchange announcement was published by Mathias
Meidell, IR Director, Hexagon Purus ASA, on 4 October 2024 at
07:55 CET.
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