April-June 2024
· Net revenue: SEK 0.9 (2.5) million
· Operating profit/loss: SEK -26.8 (-65.9) million
· Profit/loss before tax for the period: SEK -47.8 (-54.8) million
· Earnings per share basic and diluted: SEK -0.13 (-0.15)
· Cash flow from operating activities: SEK -19.3 (16.9) million
January-June 2024
· Net revenue: SEK 1.4 (4.2) million
· Operating profit/loss: SEK -46.6 (-120.4) million
· Profit/loss before tax for the period: SEK -79.9 (-102.1) million
· Earnings per share basic and diluted: SEK -0.22 (-0.28)
· Cash flow from operating activities: SEK -37.0 (-23.9) million
Key highlights from the second quarter
· Hexicon completed the operational takeover of MunmuBaram at the end of June, after months of preparations and handover work. From the 1st of July Hexicon formally took over the operating responsibility for the MunmuBaram project.
· During the quarter, Hexicon submitted a change of control application to the South Korean Ministry of Trade, Industry, and Energy (MOTIE). The application is a mandatory step in taking over the shares in the MunmuBaram project.
· On May 30th, Hexicon announced an extension of its current revolving credit facility from July 12th until December 31st, 2024. The credit facility, totalling SEK 75 million, was secured with Wallstreet Aktiebolag, a company within the Wallenius Group, and private investors.
· In June, the County Administrative Board recommended that the Swedish government approve the application for Project Mareld, one of three active projects in Freja Offshore's project portfolio. Freja Offshore is a 50/50 joint venture between Hexicon and Mainstream Renewable Power.
Webcast
A presentation of the company's interim report for the period January to June 2024 will be held today at 10:00 a.m. (CEST). If you wish to participate via webcast please use the link below. Via the webcast, you have an opportunity to ask written questions.
https://ir.financialhearings.com/hexicon-q2-report-2024
For more information, please contact:
Hexicon's Communications Department
communications@hexicongroup.com
About Hexicon
Hexicon is an early project developer in floating wind, opening new markets in deep water areas, and a technology provider with a patented floating wind design - TwinWind. The dual business model supports the world's transition to sustainable energy. Floating wind is an important part of the future energy mix. It can be deployed quickly and at scale, contributing to the electrification of society at large. Hexicon operates in several markets across Europe, Africa, Asia, and North America. Hexicon is listed on Nasdaq First North Premier Growth Market (ticker HEXI). Certified Adviser is FNCA Sweden AB.
www.hexicongroup.com
This information is information that Hexicon AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2024-08-21 08:00 CEST.
