Hexicon has published its interim financial results for the first quarter of 2025, covering the period from January to March. The company reported net revenue of SEK 5.6 million, a rise from SEK 0.5 million in the same period last year.
The operating loss was SEK 19.7 million, a slight improvement compared with SEK 19.9 million in Q1 2024. Loss before tax stood at SEK 21.7 million, down from SEK 32.1 million year-on-year. Earnings per share, both basic and diluted, were SEK -0.06, compared with SEK -0.09 in the previous year. Cash flow from operating activities totalled SEK -13.4 million, compared with SEK -23 million in Q1 2024.
Key developments during the quarter
- Freja Offshore, Hexicon’s Swedish joint venture, received a Natura 2000 permit from the County Administrative Board for the planned Mareld floating offshore wind farm off Sweden’s west coast.
- On 26 March, Hexicon signed a sale and purchase agreement with Ingka Investments, part of the Ingka Group (the largest IKEA retailer), and Oxan Energy. The agreement covers the sale of Hexicon’s 50% stake in two Italian floating wind projects: Sicily South and Sardinia Northwest.
Post-quarter update
- The transaction with Ingka Investments and Oxan Energy was finalised on 4 April.
