Annual and sustainability report 2021 Hexatronic Group
The future belongs to everyone.
Creating a lasting link to the future
Hexatronic enables non-stop connectivity for commu-nities 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.
1,289
Key Markets:
Employees
50
North America Germany United Kingdom Nordics
Companies
Focus Areas:
Fiber Solutions Custom Wireless
Headquarters in Gothenburg
Every care has been taken in the translation of this Annual Report. In the event of discrepancies, the Swedish original will supersede the English translation.
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Annual Report and Sustainability Report 2021 | Hexatronic
The year in brief | 4 | Risks and risk management | 60 |
Comments from the CEO | 6 | Board of Directors and Executive Management | 64 |
Business model and value chain | 8 | Corporate Governance Report | 66 |
The offer and strategy | 13 | Group - Financial Reports | 74 |
The market | 18 | Parent Company - Financial Reports | 79 |
Organization and acquisitions | 26 | Notes | 85 |
The Hexatronic share and shareholders | 34 | Reconciliation between IFRS and terms for key figures | 127 |
Sustainability Report | 36 | Auditor's report | 130 |
Board of Directors' Report | 54 |
The year in brief
A year of very strong development
In 2021 we have seen high profitability and very strong growth, both organically and through acquisitions. Our efforts have laid a good foundation for continued positive development.
Pernilla Lindén, CFO, Hexatronic Group AB
Annual Report and Sustainability Report 2021 |
Financial summary | |||||
2021 | 2020 | 2019 | 2018 | 2017 | |
Net sales, MSEK | 3,491.6 | 2,080.8 | 1,842.3 | 1,597.8 | 1,299.4 |
Earnings before amortisation of intangible assets (EBITA), MSEK | 393.8 | 204.8 | 135.9 | 114.9 | 133.4 |
EBITA margin, % | 11.3, | 9.8 | 7.4 | 7.2 | 10.3 |
Operating result (EBIT), MSEK | 355.1 | 177.3 | 106.4 | 92.5 | 122.3 |
Net earnings, MSEK | 252.4 | 126.5 | 67.1 | 59.3 | 90.4 |
Total assets, MSEK | 4,715.2 | 1,953.3 | 1,497.9 | 1,303.1 | 777.1 |
Cash flow from operating activities, MSEK | 104.7 | 249.8 | 173.9 | 15.6 | 133.4 |
Earnings per share after dilution, SEK | 6.47 | 3.37 | 1.80 | 1.62 | 2.38 |
4 | Hexatronic |
The year in brief
3 492
SALES MSEK
11.3 %
EBITA MARGIN
2021 has been a year of very strong growth both in terms of sales and profitability. The year marked a breakthrough for our system sales in the USA and Germany, as well as an intense acquisition activity with seven new companies being added to the Group.
The year in brief
Hexatronic has signed strategically important orders and agreements during the year.
• Agreement with Ting Internet in USA to a value over MUSD 50.
• Agreement with Centric Fiber in Texas, USA, to a value of MUSD 10.
• Three contracts in Germany to a value of MSEK 70, MEUR 12 and MEUR 9.
• Marine cable order to a value of approx. MSEK 60.
• Strategic supplier agreement with Vocus in Australia.
Other
• Decision to invest MUSD 18 in a new production plant for microducts in south-east USA, via the wholly owned subsidiary Blue Diamond Industries.
• Hexatronic conducted a directed share issue, injecting MSEK 550.
Acquisitions
• TK-KONTOR-FREITAG GmbH, German competence center for FTTH .
• Mpirical Ltd., UK-based training company.
• Optical Solutions Australia Group Pty Ltd, distributor of telecom products in Australia.
Hexatronic | Annual Report and Sustainability Report 2021
• The Fibre Optic Shop Pty Ltd, manufacturer and distributor of fiber optic products in Australia.
• H. Weterings Galgeweg BV, Dutch manufacturer of ducts and hoses for the telecom and agricultural markets.
• Data Center Systems, supplier of complete fiber optic solutions for the American data center market.
• REHAU Group's business operations in telecom - a major player in microducts on the German market.
Events since the end of the period
• The Board chooses to adjust Hexatronic's profita-bility target to 12% EBITA margin (earnings before amortization of intangible assets) over a business cycle. The previously set profitability target was at least 10% on a rolling 12-month basis.
• Hexatronic's growth target has been adjusted to annual growth of at least 20% over a business cycle. The previous growth target was to grow more than the market organically and with annual growth of at least 20%.
• The Board will propose to the AGM a dividend of SEK 0.50 (0.50) per share for the 2021 financial year.
• The Russian invasion of Ukraine has a minor direct impact on Hexatronic's operations but it is expected to result in secondary effects such as increased material prices, cargo prices and, to some extent, a shortage of raw materials and transport.
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Hexatronic Group AB published this content on 12 April 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 12 April 2022 16:11:28 UTC.