Jul 26, 2024 / 08:00AM GMT
Paolo Guglielmini - Hexagon AB - President, Chief Executive Officer
Good morning, and thank you all, for joining our Q2 2024 earnings call. Despite the headwinds in our core markets, we have delivered a solid quarter of incremental operational and strategic improvements. In this Q2, we recorded sales of EUR1,353 million, impacted by weakness in the construction sector and slowing investments in automotive affecting sales of our sensing and robotic systems.
Growth in recurring revenues remained strong, nevertheless, up 8 percentage-points to EUR560 million, driven by subscriptions and SaaS revenue momentum. In Q2. We also have hit a new all-time high of 67.3 percentage-points of gross margin, very importantly, making incremental improvements across all of the five divisions.
This gain is the result of investments in innovation to constantly optimize the cost structure of our portfolio came through diligent pricing to counter inflation, favorable mix and operational improvements. More of the manufacturing intelligence and SIG divisions benefited from the divestment of non-strategic
Q2 2024 Hexagon AB Earnings Call Transcript
Jul 26, 2024
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