December 11, 2019 / 3:15 PM / 2 months ago

Hexagon confirms financial targets for end of 2021

STOCKHOLM, Dec 11 (Reuters) - Industrial technology group Hexagon on Wednesday confirmed its sales and profitability targets for the end of 2021, saying they were still reachable in spite of strong growth needed.

“Is this achievable? It’s Christmas in 13 days. Yes, of course it is, we are going to do this ,” Hexagon CEO Ola Rollen said at a presentation at the group’s capital markets day.

The maker of measurement and positioning systems and software is targeting annual sales of 4.6-5.1 billion euros and an operating margin of 27-28% by the end of 2021.

In 2018, it had sales of 3.8 billion euro ($4.19 billion) with a 24.7% margin.

“It’s a quite positive outlook for us as a group over the longer term and we think that the world is actually evolving towards us,” Rollen said.

Hexagon shares were up 1.3% by 1509 GMT, strengthening after Rollen’s comments ($1 = 0.9073 euros) (Reporting by Johannes Hellstrom, editing by Johan Ahlander)

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