Hexagon held a Capital Markets Day for investors today and laid out its goals for the next 5 years — they’re ambitious but the company says they are attainable. And CEO Ola Rollén has a plan if there’s another recession.

But before the financials, a bit of what analysts like to call “color”: Orlando. June. 90-something degrees outside, pockets of refrigerator-cold inside. Hexagon’s user conference, running at the same time, is noted as being “business casual”. But what do we have in the investor session: a room full of guys in suits. Oh well.

Mr. Rollén opened and closed the event and has an impressive command of the details of his vast company. He speaks with equal credibility about ‘dozers and front-end loaders, measuring the human body for hip replacements, laser scanning and designing an oil rig. Hexagon’s CFO did not take the stage (as would likely have been the case if this had been an investor session hosted by a US company), but Li Hongquan, President of Hexagon China; Gerhard Sallinger, President of Intergraph PP&M and John Graham, President of Intergraph SG&I gave overviews of their parts of the business. It was all fascinating, but the investors and sell-side analysts around me wanted the bottom line: forecasts for 2011 and beyond.

Mr. Rollén sketched out a financial plan for Hexagon and its products that is predicated on two basic facts. First, emerging economies are growing faster than established ones, which will lead to a host of needs and desires among populations that are now concerned with basics: once most people have power they will want cell phones; this requires building new infrastructures in an escalating cycle. Secondly, most products sold today into emerging economies are the same as those from established economies, just localized for language. Mr. Rollén sees a need to tailor products specifically for these new markets, creating good/better/best versions that are appropriately priced. The “good” (value-priced might be another word) products will enable Hexagon to reach new customers, eventually moving them into the “better” and “best” ranges as their needs and budgets evolve.

There was a lot of good data that still needs to be parsed, but this is the bottom line: For 2011, Hexagon forecasts revenue of €2.238 billion and for 2015, Hexagon has set a sales target of €3.5 billion based on the assumption that its core markets grow at about 8% per year thru 2015 and that Hexagon will grow an additional 3.8% per year as it expands its markets and takes share from competitors.

A couple of other interesting tidbits:

• Hexagon acquired Intergraph in late 2010 but had the acquisition occurred before the financial crisis of 2009, Hexagon’s steep revenue decline in 2009 would have been mitigated — proving just how attractive the recurring revenue model is.

• No details were given on Q2, but Mr. Rollén said that it’s shaping up similarly to Q1: all geos are growing, and Metrology and PP&M are driving growth.

• The base case (all goes according to plan) does include acquisitions: small to medium sized to fill technology gaps or help build out distribution capability in emerging markets.

• Hexagon also laid out a couple of worst-case scenarios that could torpedo the base plan but that enable it to examine other alternatives to continue to grow. Should the PIIGS economies (a new acronym to me, standing for Poland, Ireland, Italy, Greece and Spain — all in trouble right now) tank or the US deficit cause a global economic crisis, Hexagon would make a major strategic acquisition — “like Intergraph”, Mr. Rollén said. This, of course, leads to a mad flurry of speculation: what’s out there that is interesting to Hexagon?

• One scenario Hexagon acknowledges but cannot really surmount: the Chinese economy goes into a tailspin. In this case, Mr. Rollén acknowledges, Hexagon would not reach its sales targets even with a strategic acquisition.

In all, it was impressive. Mr. Rollén and his team gave a very coherent description of their businesses although, to me, they still don’t seem to fit together all that well — but perhaps they don’t have to.

Note: Intergraph graciously covered expenses and registration for the event but did not in any way influence the content of this post.