Sweden's Hexicon Q1 revenue drops, net loss widens

Hexicon AB

28/05/2026 07:09

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.)