Industrial tech group Hexagon flags positive momentum (updated)

Applied Industrial Technologies

24/01/2023 08:06

(Adds detail, background)
       STOCKHOLM, Jan 24 (Reuters) - Industrial technology
group Hexagon  HEXAb.ST  on Tuesday proposed a 9% increase to
its dividend, with the Swedish company's new CEO flagging "good
momentum" going into 2023.
    The maker of measurement and positioning systems and
software had released fourth-quarter earnings on Monday after
information security concerns prompted it to report results
earlier than planned.  
    Hexagon said on Monday that it had discovered an isolated
event of unauthorised access on one email account containing
information related to the results. It said operations had not
been affected by the incident, which has been fully resolved,
and found no evidence that confidential information was taken. 
    The company proposed a dividend of 0.12 euros per share for
2022, up from 0.11 euros the previous year, after reporting 15%
fourth-quarter sales growth and adjusted operating profit up 12%
year on year at 418 million euros ($455.3 million), roughly in
line with expectations.
    "While component supply constraints continued, the negative
impact in the quarter was small and we consider the situation
largely resolved moving forward," new Chief Executive Paolo
Guglielmini said on Tuesday in the company's full quarterly
earnings report.  
    "Hexagon has good momentum going into 2023. We are well
placed to deal with the global economy's many challenges and
will continue to invest in new technologies."
    The former chief operating officer has been CEO since the
end of 2022, succeeding Ola Rollen, who is set to become group
chairman from May.
    Hexagon's sensors and software are used for measurement and
quality inspection in manufacturing processes and engineering
plant design, as well as in infrastructure planning,
construction, mining, agriculture and energy.
($1 = 0.9180 euros)
 (Reporting by Anna Ringstrom
Editing by David Goodman)
 ((anna.ringstrom@thomsonreuters.com; +46 8 502 423 74))