Hexatronic tracks worst day in 11 yrs on sudden guidance cut

Hexatronic AB

21/11/2023 14:59

** Shares in Hexatronic  HTRO.ST  tumble 32% after the
Swedish engineering group cut its short term outlook citing
weakness in the market for fiber optic telecommunication
infrastracture
    ** Redeye analyst Fredrik Nilsson notes the company released
the previous guidance just more than three weeks ago
    ** "That puts question marks on the visibility," Nilsson
says
    ** The company now expects the adjusted EBITA margin in the
second half of 2023 at 12-14% against 15-17% seen earlier
    ** "The market within Fiber Solutions has continued to
weaken during the fourth quarter, particularly the German market
and the US duct market," Hexatronic says
    ** The shares, on track for their worst day since 2012, are
down 87% year to date

 (Reporting by Boleslaw Lasocki)
 ((boleslaw.lasocki@thomsonreuters.com; +48 58 769 66 00;))