Hexicon AB (publ) - interim report Q3 2024

JULY – SEPTEMBER 2024
· Net revenue: SEK 3.8 (0.8) million
· Operating profit/loss: SEK -32.9 (-27.6) million
· Profit/loss before tax for the period: SEK -54.1 (-44.3) million
· Earnings per share basic and diluted: SEK -0.15 (-0.14)
· Cash flow from operating activities: SEK -28.3 (-80.4) million
 
JANUARY – SEPTEMBER 2024
· Net revenue: SEK 5.2 (5.1) million
· Operating profit/loss: SEK -79.5 (-147.9) million
· Profit/loss before tax for the period: SEK -134.0 (-146.5) million
· Earnings per share basic and diluted: SEK -0.37 (-0.42)
· Cash flow from operating activities: SEK -65.3 (-104.2) million
 
Key highlights from the third quarter
· Hexicon completed the operational takeover of MunmuBaram at the end of June, after months of preparations and handover work. From the 1st of July Hexicon formally took over the operating responsibility for the MunmuBaram project.
· In August, the South Korean authorities approved the Environmental Impact Assessment (EIA) for the MunmuBaram project. It is a very important milestone for the project as an approved EIA is required to participate in the offtake auction.
 
Key highlights after the quarter
· On October 10th, the MunmuBaram project reached a significant milestone as it entered into a Transmission Service Agreement (TSA) with Korea Electric Power Corporation (KEPCO).
· On November 4th, the Swedish Government announced that 13 submitted applications to build offshore wind farms in the Baltic Sea, south of the Sea of Åland, were rejected. As a result, the joint venture partners Hexicon and Mainstream Renewable Power decided to put the work on hold for the Freja Offshore projects, Cirrus and Dyning.
· On November 22nd, the South Korean Electricity Regulatory Commission (KOREC), approved Hexicon’s application, submitted in June to the Ministry of Trade, Industry and Energy (MOTIE) to take over the remaining shares in the MunmuBaram project.

Webcast
A presentation of the company’s interim report for the period July to September 2024 will be held today at 10:00 a.m. (CET). If you wish to participate via webcast please use the link below. Via the webcast, you have an opportunity to ask written questions.
https://ir.financialhearings.com/hexicon-q3-report-2024
 
Conference Call
If you prefer to participate via conference call, please register using the link below. After registration, you will receive a phone number and a conference ID to log in to the conference.
https://conference.financialhearings.com/teleconference/?id=5007423