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HEXI Hexicon AB News Story

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Sweden's Hexicon Q1 revenue drops, net loss widens

Sweden's Hexicon Q1 revenue drops, net loss widens


Overview

  • Sweden floating wind developer's Q1 revenue fell sharply yr/yr, net loss widened

  • Company completed SEK 28 mln debt conversion for 49% stake in Freia Offshore AB

  • After quarter, Hexicon sold TwinHub project and acquired full control of Mareld Green Energy


Outlook

  • Hexicon did not provide specific guidance for future quarters or the full yr in its press release


Result Drivers

  • DEBT CONVERSION - SEK 28 mln of loans converted to a 49% stake in Freia Offshore AB, reducing indebtedness and supporting long-term technology development

  • PROJECT MILESTONE - Pentland project, 10% owned by Hexicon, awarded CfD for 92.5 MW, enabling preparations for construction


Company press release: ID:nMFN3Sw7Tn


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q1 Revenue

SEK 700,000

Q1 Basic EPS

-SEK 0.54

Q1 Cash Flow From Operating Activities

-SEK 12.90 mln

Q1 Operating Profit

-SEK 16.10 mln

Q1 Pretax Profit

-SEK 37 mln


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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