Hexicon

OCTOBER – DECEMBER 2024
· Net revenue: SEK 4.7 (0.7) million
· Operating profit/loss: SEK -11.9 (-32.4) million
· Profit/loss before tax for the period: SEK -124.6 (-41.4) million
· Earnings per share basic and diluted: SEK -0.34 (-0.11)
· Cash flow from operating activities: SEK 20.2 (-54.7) million
 
JANUARY – DECEMBER 2024
· Net revenue: SEK 9.8 (5.7) million
· Operating profit/loss: SEK -91.4 (-180.3) million
· Profit/loss before tax for the period: SEK -258.6 (-187.9) million
· Earnings per share basic and diluted: SEK -0.71 (-0.51)
· Cash flow from operating activities: SEK -45.1 (-158.9) million
 
Highlights from the fourth quarter
· On the 10th of October, Hexicon's Floating Offshore Wind Project in South Korea, MunmuBaram, reaches Major Milestone when entering into a Transmission Service Agreement (TSA) with Korea Electric Power Corporation (KEPCO).
 
· On the 4th of November, the Swedish government announced that 13 submitted applications to build offshore wind farms in the Baltic Sea were rejected. Two of Hexicon’s joint venture projects, Dyning and Cirrus, were affected.
 
· On the 28th of November, the South Korean Electricity Regulatory Commission (KOREC) approved the transfer of two out of three Electricity Business Licenses (EBLs) for the floating offshore wind project MunmuBaram. With this approval, Hexicon achieved the conditions to complete the Sales and Purchase Agreement (SPA) signed in February 2024.
 
· On the 31st of December, Hexicon signed an agreement to extend an existing  SEK 75 million credit facility, originally set to expire on the 31st of December, until the 30th of June, 2025. The lenders include Wallstreet Aktiebolag, part of the Wallenius Group, along with a group of private investors.
 
Highlights after the quarter
· In January, Hexicon’s joint venture Freja was granted a Natura 2000 permit for its Mareld project on the Swedish west coast.
 
Webcast and teleconference:
The company’s interim report will be presented today at 10:00 a.m. (CET). If you wish to participate via webcast or teleconference, please use the link below.
 
Via the webcast, you have an opportunity to ask written questions.
 
Hexicon, Webcast, Q4, 2024 | Financial Hearings by Inderes