Hexagon IES Report Q2 Financial Results
Hexagon’s Industrial Enterprise Solutions (IES) division which includes metrology systems as well as CAD/CAM and CAE software has announced its second quarter 2020 finnacial results.
IES net sales amounted to 439.0 MEUR. Using fixed exchange rates and a comparable group structure (organic growth), net sales decreased by -10 per cent.
Regionally, organic growth was 4 per cent in Asia, -12 per cent in Americas and -22 per cent in EMEA. In Asia, China recorded 11 per cent organic growth, supported by a recovery in the electronics segment and a solid development in the power and energy segment. Japan grew by low single-digits, but South Korea, India and SouthEastern Asia declined. In Americas, North America recorded -12 per cent organic growth, hampered by a weak development in manufacturing. The power and energy segment recorded favorable growth in the region. South America recorded a double-digit organic decline. In EMEA, Western Europe recorded -21 per cent organic growth, driven by weakness in the manufacturing segment. The power and energy segment however, recorded solid growth. Eastern Europe, Russia, the Middle East and Africa also recorded double-digit declines.
Regarding the divisions within IES, Manufacturing Intelligence recorded -14 per cent organic growth, largely driven by the declines in Europe and the US related to the COVID-19 pandemic. China, however, recorded solid organic growth, driven by a recovery in the electronics segment. The software portfolios continued to show resilience and remained stable. PPM recorded 1 per cent organic growth, supported by strong development in the asset information management and AEC (architect, engineering and construction) design software portfolios.
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