Yesterday we had solid growth from DS, a company still deriving most of its revenue from discrete manufacturing industries. How did the AEC/infrastructure/metrology world fare in Q4? Hexagon says it went well, as organic revenue was up 18% as reported and up 9% on an organic basis and in constant currencies, to €743 million. That’s quite a bit ahead of consensus and investors are delighted: the share is up 7% to a record high.
Lots more after I listen to the earnings call, but the highlights: Geosystems revenue was up 2% on an organic basis, as mid-single digit growth in the surveying business couldn’t offset weakness in mining. Metrology reported organic growth of 14%, on demand from automotive and electronics buyers. Intergraph PP&M recorded 14% organic growth while Intergraph SG&I continues to struggle — “recorded slight organic growth but experienced a strong order intake in the quarter”.