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 |
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(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.)
Recent news on Hexicon AB
See all newsSweden's Hexicon Q1 revenue drops, net loss widens
Brief: Hexicon Q1 Operating Loss Narrows To SEK 16.1 Mln
Brief: Hexicon Q1 Revenue SEK 700 Thousand
Brief: Hexicon Becomes Sole Owner of Mareld Green Energy
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