Today Hexicon AB (publ) publishes its interim report for the first quarter of 2026.
Summary business results
January - March 2026
- Net revenue: SEK 0.7 (5.6) million
- Operating profit/loss: SEK -16.1 (-19.7) million
- Profit/loss before tax for the period: SEK -37.0 (-21.7) million
- Earnings per share basic and diluted: SEK -0.54 (-0.06)
- Cash flow from operating activities: SEK -12.9 (-13.4) million
Significant events during the quarter
- January 2026: The Control Balance Sheet (Sw. kontrollbalansräkning) in Hexicon Holding AB was completed and concluded that the remaining projects held by the company have sufficient value for the company's equity not to have been depleted.
- January 2026: The 10% owned Pentland project was awarded a CfD for 92.5 MW at a strike price of approximately GBP 216/MWh (in 2024 prices). The auction win marks a major milestone, enabling preparations for construction and continued progress towards delivery.
- March 2026: The Extraordinary General Meeting approved the loan entered into in December 2025 together with the associated warrants. The loan is a smaller facility of SEK 2.8 million and was raised to finance certain minor costs that fall outside the scope of the Nuveen facility. The loan carries the same interest as the RCF, 1.38% monthly PIK, and has the same maturity date, 30 June 2027. In addition, warrants totalling SEK 5.6 million have been issued, with an exercise price of SEK 0.40 per warrant and a term until the first week of January 2029.
- In March 2026, Hexicon completed the conversion previously communicated in a Memorandum of Understanding (MoU) with Wallstreet Aktiebolag. The conversion entails that approximately SEK 28 million of outstanding loans have been converted into a 49% ownership stake in the IP company Freia Offshore AB, which holds the Group's patented technology. The transaction strengthens Hexicon's financial position through reduced indebtedness and creates long-term conditions for the continued development and commercialisation of the company's technology.
Significant events after the quarter
- In April 2026, Hexicon entered into and completed a share purchase agreement (SPA) with a leading global provider of advanced marine and offshore engineering solutions regarding the divestment of the project company TwinHub, Wave Hub Ltd. Hexicon divested its entire 100% ownership in the project, including related assets and liabilities, for a total purchase price of GBP 1.
- In May 2026, Hexicon entered into an agreement to acquire the remaining 50% of the shares in Mareld Green Energy AB from its joint venture partner Mainstream Renewable Power. Hexicon will acquire the shares for an upfront consideration of SEK 1 and an additional milestone-based consideration of EUR 4.5 million, payable if the project is awarded an offtake contract in a future auction. Following completion, Hexicon becomes the sole owner of the Mareld project, strengthening its strategic position in Sweden and increasing control over a large-scale project with significant long-term potential.
Report
The interim report for Q1 2026 is attached to this press release and is available on Hexicon's website at https://www.hexicongroup.com/financial-reports-presentations
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 and Asia. Hexicon is listed on Nasdaq First North 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 2026-05-28 08:00 CEST.
