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Hexicon (HEXI) investor relations material
Hexicon Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary19 Nov, 2025
Executive summary
Floating offshore wind market remains weak, but recent political actions in the UK, France, and South Korea are strengthening support for the sector.
Business model focuses on developing and divesting projects during the development phase, not operating them post-construction.
Portfolio has become smaller and more mature due to divestments and political decisions, with a focus on core projects in the UK and South Korea.
Main focus is on maturing existing projects, divestments, and operational efficiency, with no plans to expand the portfolio in 2025.
Extended revolving credit facility by 24 months, secured new EUR 4.75 million loan, and signed MoUs to convert loans into equity and enhance local collaboration.
Market and industry conditions
Offshore wind, especially floating, has seen a downturn in recent years, with fewer buyers and lower valuations, but long-term fundamentals remain strong.
UK and France have strengthened subsidy regimes and auction structures for floating wind, though France saw two auctions with no bids.
South Korea has increased renewable targets and established a new ministry to support energy transition.
Global floating wind installations remain small at 277 MW, but strong growth is forecasted compared to 83,000 MW for fixed-bottom wind.
High capital costs, inflation, and slow permitting continue to challenge the sector.
Segment performance
MunmuBaram in South Korea, Pentland in Scotland, and TwinHub in England are the most mature projects.
MunmuBaram is a 750 MW project, now fully owned after buyback from Shell, and is the largest value driver in the portfolio.
UK projects are preparing for upcoming Contracts for Difference auctions.
Revenue primarily from consulting services and project divestments, with major divestment of Italian projects in Q2 2025.
Active project portfolio includes South Korea, South Africa, UK, Italy, and Sweden, with 54-55% active ownership.
Update on securing additional short-term financing
Impact of patent objections on Twinwind commercialization?
Outlook for future project divestment milestones
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Next Hexicon earnings date
Q4 202519 Feb, 2026
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Frequently asked questions
Hexicon designs, manufactures and operates wave and wind parks that are based on a next generation floating foundation. The offshore installations are modular, scalable, efficient and environmentally friendly. Hexicon aims for a competitive power generation with no significant market risk for the project owner by designing the wave farms to be highly robust and independent projects
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