STOCKHOLM (Reuters) – Industrial technology group Hexagon said on Tuesday that the second quarter had been its strongest ever with sales and profitability setting fresh records as it reported earnings above market expectations.
The Swedish company said it was helped by continued high activity in the global construction and infrastructure markets.
Hexagon reported a like-for-like sales rise of 20% as manufacturing in Europe and North America recovered and demand remained strong in China and its software portfolios.
The maker of measurement and positioning systems and software said adjusted operating profit (EBIT) rose to 301.1 million euros ($355.2 million) from 226.5 million a year earlier, beating a mean analyst forecast of 283.5 million according to Refinitiv estimates.
“The past quarter was Hexagons strongest ever, sales, operating earnings and margins are at an all-time high,” CEO Ola Rollen said in a statement.
Hexagon’s sensors and software are used for measurement and quality inspection in manufacturing processes and engineering plant design, as well as in infrastructure planning, construction, mining, agriculture and energy.
($1 = 0.8476 euros)
(Reporting by Helena Soderpalm; editing by Niklas Pollard)
