Hexagon Announces the Impact of a Slowdown in China and Related
Hexagon Announces the Impact of a Slowdown in China and Related Restructuring Program
Preliminary reporting indicates revenue of approximately 975 MEUR in Q2 2019, corresponding to organic growth of -1 per cent for the group (FX 2 per cent, structure 3 per cent and recorded 4 per cent) and with organic growth of 3 per cent for GES and -5 per cent for IES. EBIT1 (operating earnings excluding non-recurring items) for the group is expected to be approximately 237 MEUR (Q2 2018: 228 MEUR).
Hexagon has taken proactive restructuring actions to ensure the company remains on track to meet its 2021 financial targets. Overall, Hexagon has taken a one-off charge of 44 MEUR during Q2 2019 to reduce its global workforce by approximately 700 employees, which is expected to result in annualised cost savings of...