Hexatronic Q4’19: First comments – dampened growth, as expected
As expected, Hexatronic reported a dampened sales growth (in comparison with earlier quarters of 2019) of 4. 5% y/y (we forecast 5. 5%). Order book at the beginning of Q1’20 was in line with the corresponding time last year, suggesting a soft start to the new year.
Q4 EBITA, adjusted for the patent dispute, was slightly lower than expectations. We will probably only make minor short-term adjustments following the report.