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Hexagon Report Market Decline In China and Automotive Sector

Hexagon has reported its Q4 2019 financial results.

The Hexagon Industrial Enterprise Solutions division, which includes metrology systems, reported net sales of 544.0 MEUR. Using fixed exchange rates and a comparable group structure (organic growth) net sales decreased by -4%. Regionally, organic growth was 3% in EMEA, -2% in Americas and -10% in Asia.

North America reported a slight decline, hampered by weakness in manufacturing industry in Canada and Mexico, whereas the US recorded slight growth in the quarter.  China recorded -22% organic revenue decline, largely driven by weaker demand in the manufacturing industry. Japan and India recorded strong growth reported Hexagon.

The Hexagon Manufacturing Intelligence division recorded -8% organic growth, largely driven by the significant decline in China and weak demand in automotive which offset continued good growth in aerospace. The performance in the software portfolios remained stable.

“Weakness in China and the slowdown in the automotive sector continued to hamper the Manufacturing Intelligence division,” CEO Ola Rollen said in a statement.

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