Hexagon proposes change of accounting currency to Euro

25 October 2010

The Board of Directors of Hexagon AB proposes to change the accounting currency from Swedish kronor (SEK) to Euro (EUR) effective as of 1 January 2011.

As a result of the accelerating globalisation of Hexagon's operations, the Group's sales, costs and net assets are today primarily denominated in currencies other than SEK. Today, only about 5 per cent of sales and 5 per cent of net assets are denominated in SEK.

The foreign currencies that have the biggest impact on Hexagon's earnings and net assets today are U.S. dollars (USD), EUR, Swiss Franc (CHF) and China Yuan Renminbi (CNY). The acquisition of Intergraph will further increase the importance of these currencies for Hexagon.

A change of accounting currency from SEK to EUR will decrease the currency exposure in both the profit and loss statement as well as in comprehensive income. It will also allow the Hexagon Group to better match debt to the net assets which will have a stabilising effect on certain key ratios that are of importance to Hexagon's cost of capital.

The change of accounting currency is subject to approval by the Extra General Meeting to be held at 10:00 CET on 24 November 2010 at Torsgatan 11, Stockholm, Sweden. See separate press release regarding notice to the EGM for further information.


This press release consists of such information that Hexagon AB (publ) may be obliged to disclose in accordance with the Swedish Securities Market Act and /or the Financial Instruments Trading Act. The information was submitted for publication on 25 October 2010 at 08:00 CET.


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