Hexagon announces a summary of its Q4 2022 results and changes the release date of its full year-end report following an isolated email incident


Due to an isolated event concerning unauthorised access of one specific email account that contained information related to Hexagon’s Q4 2022 results, Hexagon is releasing a summary of its fourth quarter 2022 results ahead of its full year-end report. A swift investigation confirmed no impact to Hexagon’s internal networks or operations, nor was any evidence found that confidential information was taken. The incident has been fully resolved.

Fourth quarter 2022 summary:

  • Operating net sales increased by 15 per cent to 1,403.2 MEUR (1,216.7), reflecting organic growth of 8 per cent, a contribution from structure of 2 per cent and currency translation effects of 5 per cent.
  • All regions saw healthy organic growth development (EMEA: 11 per cent, Americas: 7 per cent and Asia: 7 per cent).
  • Geospatial Enterprise Solutions (GES) operating net sales amounted to 662.0 MEUR (586.5), reflecting organic growth of 5 per cent, led by a strong development in Autonomy & Positioning (15 per cent) and a stable trend in both Geosystems (4 per cent) and Safety, Infrastructure & Geospatial (3 per cent).
  • Industrial Enterprise Solutions (IES) operating net sales amounted to 741.2 MEUR (630.2) reflecting organic growth of 12 per cent, with both Manufacturing Intelligence (13 per cent) and Asset Lifecycle Intelligence (8 per cent) contributing strongly.
  • Adjusted operating earnings (EBIT1) increased by 12 per cent to 418.0 MEUR (373.1) with a corresponding margin of 29.8 per cent (30.7). The EBIT1 margin was positively impacted by healthy volume growth, favourable price-cost development, and new product introductions, reflected in a record gross margin of 66.2 per cent (65.0), but negatively impacted by net currency effects (translation impact: 23.5 MEUR, transaction impact: -20.5 MEUR).

Note: The fourth quarter 2022 summary has not been reviewed by the Company’s auditors.

“Hexagon takes privacy and security seriously and we felt it prudent to report a summary of our fourth quarter numbers as soon as possible. Hexagon had a strong finish to 2022, moving into the new year with good momentum. I look forward to discussing the results in more detail on 24 January”, says Hexagon President and CEO Paolo Guglielmini.

No additional information will be given ahead of Hexagon releasing its Year-End report for 2022 on the revised date of Tuesday, 24 January, at approximately 08:00 CET. A new invitation to the live webcast and telephone conference with time and call-in details will be announced separately.


Paolo Guglielmini to be appointed new President and CEO for Hexagon


Hexagon AB, a global leader in digital reality solutions, combining sensors, software and autonomous technologies, today announced that Paolo Guglielmini will succeed Ola Rollén as President and CEO of Hexagon AB, effective 31 December 2022.

Gun Nilsson has decided to step down as CEO for Hexagon’s principal shareholder MSAB on 1 October and consequently leave her position as Chairman of Hexagon AB at the Annual General Meeting (AGM) 2023. MSAB, in consultation with Hexagon’s nomination committee, has the intention to propose Ola Rollén as new Chairman of the Board at the AGM 2023.

Paolo Guglielmini, currently Hexagon’s Chief Operating Officer (COO) and President of Hexagon’s Manufacturing Intelligence (MI) division, has served in key roles since joining Hexagon in 2010, from strategy and business development to M&A and general management. He has been instrumental in expanding MI’s focus towards software-centric quality data solutions, and with his team driving the business towards all-time-high performance in 2021. Prior to joining Hexagon, Guglielmini held positions at CERN, the European Organization for Nuclear Research in Switzerland, and Accenture. He holds a Master of Science in Engineering and Master of Business Administration from IMD.

“I’m happy that we have found an internal solution for my succession which will bring long term stability and continuity but at the same time needed rejuvenation as we prepare this amazing company for the next big leap strategically,” says Hexagon’s President and CEO, Ola Rollén. “I have preoccupied myself with the well-being of Hexagon 24/7 for the last 22 years and it’s a true privilege to be able to continue to follow the company’s successful development as Chairman.”

“On behalf of the Board of Directors and shareholders, I want to thank Ola for his incredible achievements throughout the years. Since joining Hexagon in 2000, he has grown the company from 150 MEUR market cap to a 30bn EUR multinational leader in digital solutions. He has brought tremendous value to both shareholders, industry, and society. I’m confident that Paolo will continue this journey, taking the company to the next level,” says Hexagon’s Chairman of the board, Gun Nilsson. “It’s been an honor to follow this great company for more than 14 years as part of the Board of Directors, and the past 5 years as Chairman.”

“I’m honoured by the opportunity to build upon the legacy that Ola and our team have created over the past two decades, and excited to lead Hexagon into the future. We are very well positioned to capitalise on the vast opportunities ahead, combining software, sensors and autonomous technologies to create sustainable value for our stakeholders,” says Hexagon’s COO and President of Hexagon Manufacturing Intelligence, Paolo Guglielmini.

At the same time the following organisational changes will be made:

Josh (Joshua) Weiss, currently COO of Hexagon Geosystems, will succeed Guglielmini as President for Hexagon Manufacturing Intelligence, effective 1 July 2022. Weiss has served in multiple leadership roles since joining Hexagon in 2015 – from his most recent role to the President of Geosystems’ mining and heavy construction businesses. Weiss will report to Hexagon’s President and CEO and be a part of the Executive Management Team.

Michael Ritter, currently President of Hexagon Autonomy & Positioning, will assume a new senior role overseeing Hexagon’s Autonomy & Positioning, Mining and Agriculture divisions, effective immediately. In this role, Ritter will be responsible for leading the strategy of the businesses, to accelerate synergies and strengthening the solutions portfolio for Hexagon’s customers. Ritter will continue reporting to Hexagon’s President and CEO and be a part of the Executive Management Team.

Maria Luthström, currently Head of Sustainability and Investor Relations for Hexagon, will succeed Ritter as President of Hexagon Autonomy & Positioning, effective 1 October 2022. Luthström joined Hexagon in 2015 and has been instrumental in expanding the company’s strategy and environmental, social and governance (ESG) agenda, strengthening Hexagon’s culture and increasing shareholder value. Luthström will report to Michael Ritter.