Sweden's Hexicon Q2 revenue drops, net loss widens
Sweden's Hexicon Q2 revenue drops, net loss widens
Overview
Sweden floating wind developer's Q2 revenue fell sharply yr/yr, net loss widened
Company divested TwinHub project and acquired full ownership of Mareld Green Energy AB
After quarter, Mareld offshore wind farm permit was rejected by Swedish Government
Outlook
Hexicon did not provide specific financial guidance for the current quarter or full year in press release
Result Drivers
PROJECT DIVESTMENT - Co completed sale of TwinHub project, removing related assets and liabilities from its balance sheet
MARELD ACQUISITION - Co acquired remaining 50% of Mareld Green Energy AB, with further payment contingent on project success
Company press release: ID:nMFN2ytRP4
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Revenue |
| SEK 1.30 mln |
|
Q2 Cash Flow From Operating Activities |
| -SEK 9.40 mln |
|
Q2 Loss Per Basic Share |
| SEK 0.15 |
|
Q2 Operating Profit |
| -SEK 12.50 mln |
|
Q2 Pretax Loss |
| SEK 55.30 mln |
|
Reuters Recommended Reads
Aug 27 - Sweden's Eolus Q2 revenue drops sharply on lack of project transactions
Aug 25 - Denmark's Cadeler H1 revenue more than doubles on fleet growth
Aug 26 - Switzerland's Gurit H1 sales rise 16% on Wind Materials unit strength
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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.)
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Sweden's Hexicon Q2 revenue drops, net loss widens
Brief: Hexicon Q2 Revenue SEK 1.3 Million