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Hexicon (HEXI) investor relations material
Hexicon Q2 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Q2 2026 saw continued progress in South Korea, active portfolio management, and key developments for TwinWind technology amid a selective offshore wind market shaped by capital discipline and regulatory changes.
Major events included the divestment of TwinHub, full acquisition of Mareld, and a favorable patent decision for Freia Offshore's Tilted Wind Tower; post-period, Mareld's permit was rejected by Swedish authorities.
Liquidity remains highly constrained, with ongoing efforts to secure additional financing and maintain strict cost control.
Financial highlights
Q2 2026 net revenue was SEK 1.3 million, down from SEK 5.2 million year-over-year; operating loss was SEK -12.5 million versus a profit of SEK 52.8 million.
Loss before tax for Q2 was SEK -55.3 million (Q2 2025: -36.2 million); EPS was SEK -0.15 (Q2 2025: -0.11).
YTD net revenue was SEK 2.1 million (H1 2025: 10.8 million); operating loss SEK -28.6 million (H1 2025: profit 32.6 million); profit before tax SEK 21.1 million (H1 2025: -57.9 million) due to non-recurring gains.
Cash flow from operating activities was SEK -9.4 million in Q2 and SEK -22.1 million YTD.
Total assets at period end were SEK 385.4 million, with cash at SEK 3.3 million.
Outlook and guidance
South Korea remains a key market, with new government plans targeting 100 GW renewable capacity by 2030 and 30% renewable share by 2035.
The Swedish offshore wind framework remains uncertain after the rejection of Mareld and other projects; future reconsideration possible under an auction-based system.
Focus remains on financial resilience, advancing MunmuBaram, commercializing TwinWind, and managing the project portfolio.
- Losses deepened as revenues fell, but strategic divestments and cost cuts improved resilience.HEXI
Q1 2026 - TwinHub impairment and Pentland's progress drive a divestment-focused strategy amid industry headwinds.HEXI
Q4 2025 - Divestments prioritized, financing extended, but losses and short-term risks persist.HEXI
Q3 2025 - Revenue surged from project divestments, but short-term financing remains a critical risk.HEXI
Q2 2025 - MunmuBaram advanced amid Q3 losses, tight liquidity, and Swedish regulatory setbacks.HEXI
Q3 2024 - Operating loss narrowed in Q2 2024 as key projects advanced and financing was secured.HEXI
Q2 2024 - Net loss widened despite operational gains; financing and project milestones remain critical.HEXI
Q4 2024 - Project divestments and milestone achievements drive recovery amid tight financing.HEXI
Q1 2025
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