As a quick comment, theyâre having to kick the can down the road a bit for next year from H1 to H2, which could be a general trend in the US as well. Need to monitor competitorsâ outlooks. Weak demand in Germany/UK was predictable; the EU is in rough shape across the board.
I havenât been following that closely anymore, but itâs worth noting in the report that sales in America have backed off slightly.
Which may be partly due to Hexatronic not being on this list.
Which in turn may be because H decided not to invest in fiber production in America.
Which might be because about 1.5 years ago H decided to invest in (was it 24?) additional fiber lines in Hudiksvall. Considering the sales figures, these have probably been sitting idle.
All this might have had an impact on the fact that
- HLL is leaving and that
- short sellers have stuck to the stock like burrs
Or then again, not, since this is just a hunch (mutu).
In any case, regarding FTTH and the company as a whole, itâs still a valid question: âwhat thenâ when a fiber connection starts to be found in every home. After all, the âlionâs shareâ of revenue still comes from FTTH, despite the growth in the share of harsh environments and data centers.
I personally picked Prysmian from the BABA list, which I figured would be among the group that will ultimately dominate the fiber market as well. Along with all the other cable-related bits and pieces.
This BEAD/BABA topic was already discussed back in March, so I personally havenât seen it having an impact on Hexaâs ability to operate in the US. A fiber factory in Sweden is justified by being closer to other market areas, and Iâm sure subsidies for establishing factories can be obtained in Sweden as well. The US market accounts for about half of total sales. There is plenty of market left in FTTH for a long time, and Hexaâs products are also found in other categories. On the US side, there are 8 duct factories if I remember correctly, so I would imagine there would be buyers for those as well.
Redeye has an overall positive impression from the visit to the Hudiksvall factory. We do not see that Trump winning the election threatens a rebound in the US market. While leaving our Base Case and forecasts unchanged, we feel somewhat more confident in our assumptions of stable development in the next few quarters, followed by a rebound in late 2025 and 2026
Q3 Earnings Call:
This company is unfamiliar to me, but if I have to guess, IREN could be that Microsoft guy.
At first glance, none of those Trumpâs actions seem to concern the BEAD program.
Now that Iâve read that for the fifth time, I agree.
Except that Trump froze all funding from programs under the IIJA (Infrastructure Investment and Jobs Act) law, which includes the BEAD program. The funding distribution for the BEAD program has been such a complex process that itâs not clear how much funding has already been distributed, but if I understood correctly, some states have received some funding and some have not.
A member of Hexatronicâs management team made purchases in late July:
I became interested in Hexatronic again as the investment story is clearly in a transition phase.
The fiber segmentâs EBITA decreased by 33% in H1/24 vs. H1/25. During the same period, the data center segmentâs EBITA grew by 54%. Profitability in this segment was significantly better than fiber, with an EBITDA margin of 21.0% vs. 12.4%. At the current pace, EPS from data centers would already next year be greater than fiber.
Hexatronicâs market capitalization is currently under 400 million euros, while the data center market is, well, quite large.
The share price has fallen by 66% in a year. EPS decreased by 7% in H1/25 compared to a year ago, but this is explained by a sluggish fiber market and currency exchange effects. The market does not seem to value that +50% growth in data center EBITA. The debt-to-equity ratio also looks better year by year.
I myself have invested in this with a reasonable stake. I would probably invest more if I understood more about the data center market and wasnât suspicious that thereâs a catch.
Hexatronic Rises After Paretoâs Comment on Commscope Deal
Tuesday, August 5, 2025 at 2:30 PM
FinWire News
It was announced on Monday that US manufacturing company Amphenol has signed an agreement to acquire Commscopeâs broadband connectivity and cabling business unit, CCS. The deal is valued at approximately $10.5 billion, including debt.
The transaction is expected to close in the first half of 2026, subject to customary regulatory approvals and approval by Commscopeâs shareholders.
According to a comment from Pareto Securities, the business unit is valued at 11.2 times the expected operating profit at the EBITDA level for the full year 2025.
When Pareto applies an 11x EBITDA multiple to fiber communications company Hexatronicâs Fiber Solutions business unit, the value is SEK 31.8 per share. Overall, the SOTP valuation gives Hexatronic a total value of SEK 53.5.
On Tuesday at 2:11 PM, Hexatronic is trading up 5.85 percent at SEK 21.90.
Leo Luthander
leo.luthander@finwire.se
Finwire News Agency
Google Translateâs little gem 
Tell me, wiser ones, as I donât have better information on the matter myself. How large a share of Hexatronicâs revenue comes from data centers? New centers are started to be built almost every day around the globe. One could quickly imagine this being positive for the company. However, it doesnât show in the stock price at all.
Is any analyst in Sweden following this? I would gladly hear how large a share of Hexatronicâs revenue has traditionally come from data centers. Nokia published good results with the growth of data centers. Does this have any impact on Hexatronicâs expectations?
Edit: I was lazy, I admit. The numbers are mentioned there, I donât know how I managed to overlook them.
So the question is only how much they can grow with the current boom.
Edit 2: thanks for the answers, a harsher reply would have been appropriate here: read the thread 
@jaska, @_TeemuHinkula
ABG raised the target price from 21 to 30 krona. Buy recommendation. The share price is on a good upward trend.
A slightly larger consensus beat from the company for the first time in quite a while
Interesting to hear more about the outlook for the current year.