Hexatronic Group AB (publ) HTRO
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Full analysis: 6 Apr 2026
Latest news check: 2 Aug 2026
General analysis — not personal advice.
BUY
7/10
Confidence
Consider adding gradually (e.g., 2–3 tranches) rather than all at once after the post-earnings spike. Key watch items: (1) whether ~10% EBITA margin can be sustained in Q3, (2) continued improvement in European Fiber Solutions, and (3) no deterioration in the order book.
Q2 delivered a clear inflection with higher organic growth and margin expansion, strengthening the likelihood that the Fiber Solutions restructuring will deliver sustained effects while Data Center remains a profit driver.
Market sentiment
9/10
↑
Trend: Improving
Sentiment has turned clearly positive after a beat versus consensus and evidence of both a Fiber Solutions improvement and continued Data Center strength, reducing fears of prolonged margin pressure.
Price context
The share closes at 37.88 SEK after a 7.3 % weekly decline and sits 22 % below the 52-week high yet 127 % above the 52-week low, indicating consolidation following a strong 12-month advance.
Risk assessment
5/10
Dilution:
Low
Strong cash flow and declining net debt
Jurisdiction:
Low
Mainly US and Western Europe
Execution:
Medium
Restructuring and acquisition integration must deliver
Recent changes
- Q2 delivered revenue of 2,245 MSEK (+18% YoY), organic growth +11% and adj. EBITA of 224 MSEK (+33%) with a 10.0% margin. Management indicated Q3 should be in line with the strong Q2 and an order book of ~4 months of…
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Show all changes (7) — follow the company freeAbout the company
Hexatronic designs, manufactures, and delivers fiber-optic cables, micro-duct systems, passive network components, and installation/project services. The company is pivoting from traditional FTTH toward faster-growing segments such as Data Center and Harsh Environment. Profitability has been pressured, but cash generation has been strong and leverage has been reduced.
Sector:
Fiber-optic telecom and data center infrastructure
Type:
Industrial
Next report
22 Oct 2026
Q3
Catalysts
26 Aug 2026
Extraordinary general meeting
Medium
22 Oct 2026
Q3 2026 report
High
Horizon:
Bull case
Q2 margin improvement and management’s decision to retain shares after LTIP 2023 expiry reinforce confidence in continued profitability gains.
Bear case
Short-term profit-taking and uncertainty over how long margins can be sustained around 10 % may create volatility.
Signal rationale (informational)
Q2 delivered a clear inflection with higher organic growth and margin expansion, strengthening the likelihood that the Fiber Solutions restructuring will deliver sustained effects while Data Center remains a profit driver.
Recent news
- Extraordinary general meeting called for 26 August 2026 to approve new LTIP 2026. LTIP 2023 expired with conversion of C-shares to ordinary shares; management retains all allocated shares without selling. Oscar Wärme assumed role as acting head of Data Center on 1 August.
Price & valuation
Last close
SEK 39.80
1 week
-0.8 %
3 months
-13.5 %
12 months
+79.4 %
From 52w high
-18.1 %
From 52w low
+138.3 %
Exchange
Stockholm
Type
Industrials
Sector
Fiber-optic telecom and data center infrastructure
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Firelda provides general information and analysis, not personal investment advice. Content does not consider your financial situation or goals. Investments can rise and fall in value. Always do your own research.