Hexicon har idag publicerat sin Q4 rapport som bekräftar att 2024, likt 2023, var ett utmanande år. Men trots en utmanande marknadsmiljö har Hexicon sett positiva framsteg under året. Analytiker Lucas Mattsson intervjuar VD Marcus Thor som diskuterar framstegen i projektet Munmubaram, varför marknaden har blåst åt fel håll under året samt den finansiella utvecklingen under kvartalet.

Hexicon will publish its Q4 results on Wednesday, February 19, at 8:00 am CET. We expect the company’s revenue to continue to be modest, driven mainly by consulting fees. In the bigger picture, we believe that project divestments will be the main growth driver in the coming years. We therefore look forward to hearing more details on potential divestments, with a particular focus on the important MunmuBaram project.

Recent developments in Hexicon’s project portfolio have been mixed, in our view. While the MunmuBaram project finally received regulatory approval, the Swedish Government rejected two key projects, affecting the valuation negatively. Furthermore, Hexicon is still in need of immediate cash infusion, and we believe it will be difficult for the company to overcome the downward pressure from the expected equity issue, the high cash burn, and the remaining question marks concerning the structure of the MunmuBaram divestment. Against this backdrop, we believe that the near-term risk/reward profile is unfavorable. Consequently, we revise our recommendation to Sell (was Reduce) and lower our target price to SEK 0.14 (was 0.23), reflecting the negative impact of the reduced net capacity in the project portfolio and aligning with our SOTP valuation.

Hexicons VD Marcus Thor intervjuas av analytiker Lucas Mattsson om Q3 rapporten från Hexicon som publicerades idag. Marcus sammanfattar det tredje kvartalet, pratar om åtgärdsplanen och även hur regeringsbeslutet i Sverige kom som en överraskning.

Hexicon will publish its Q3 results on Friday at 8:00 am CET. We are interested in any updates on potential divestments, with a particular focus on the important MunmuBaram project. In addition, we are looking for the company's comments on how the recent news that the Swedish government has rejected applications for two of Hexicon's projects affects the value of the project portfolio and the company's other project in Sweden.