Hexicon (HEXI) Q1 2026 earnings summary

Executive summary

• Q1 2026 saw continued geopolitical uncertainty and a selective offshore wind market, with volatility reinforcing the need for energy security and domestic generation.

• Focus was on strengthening financial position, streamlining operations, and reducing costs.

• Completed debt-to-equity conversion in Freia Offshore; post-period, divested TwinHub and increased Mareld ownership.

• Adaptation to market conditions and positioning for future value creation remained priorities.

Financial highlights

• Net revenue: SEK 0.7 million, down from SEK 5.6 million year-over-year.

• Operating loss: SEK -16.1 million, improved from SEK -19.7 million year-over-year.

• Loss before tax: SEK -37.0 million, compared to SEK -21.7 million year-over-year.

• Earnings per share: SEK -0.54, down from SEK -0.06 year-over-year.

• Cash flow from operating activities: SEK -12.9 million.

Outlook and guidance

• Priorities include safeguarding liquidity, active portfolio management, and advancing strategic partnerships.

• Market for floating offshore wind is becoming more demanding but structured, requiring adaptability and discipline.