QUOTE FROM
“All projects moved forward, lowering the portfolio risk level. The expansion continued and after the period new seabed rights were secured in
July -
- Net revenue amounted to 4.4 (0.5) MSEK.
- Operating profit/loss amounted to -11.3 (-4.0) MSEK.
- Profit/loss before tax for the period amounted to -11.3 (-4.0) MSEK.
- Earnings per share basic and diluted amounted to -0.03
(-0.02) SEK .
- Cash flow from operating activities amounted to -42.3 (-4.0) MSEK.
- Cash at the end of the period amounted to 320.9 (1.4) MSEK.
January -
- Net revenue amounted to 17.0 (3.6) MSEK.
- Operating profit/loss amounted to -34.8 (-11.3) MSEK.
- Profit/loss before tax for the period amounted to -33.6 (-11.8) MSEK.
- Earnings per share basic and diluted amounted to -0.11
(-0.07) SEK .
- Cash flow from operating activities amounted to -41.4 (-6.9) MSEK.
Key events July - September
- MunmuBaram, the JV between CoensHexicon and Shell, completed wind measurements, geotechnical surveys and applied for its first electricity generation license in
South Korea .
Hexicon and Aker Offshore Wind formed a 50-50 JV and concluded site consultations inSweden .
- The TwinWay demonstrator project completed the first engineering phase and received feasibility certification from
DNV GL .
Key events after July - September
- Korean JV, CoensHexicon, with regional partners, secured additional seabed rights in
South Korea with a gross potential of more than 1 GW.
- Korean JV with Shell, MunmuBaram, applied for two additional electricity generation licenses in
South Korea .
- The
European Patent Office issued its formal intention to grantHexicon a European patent for its dual-turbine technology.
Hexicon partnered with global contractor Worley for the fabrication of the TwinWay demonstrator project inNorway .
COMMENT FROM
I can summarise yet another eventful quarter for
During the period, and more so since our IPO in June, we have moved forward within the entire project portfolio. Our early establishment in
Additionally, CoensHexicon has been granted priority rights to four additional areas in South Korean waters. This is a major success and confirms our business model of being an originator and early-stage developer in key markets and with local partners.
The second of the two synergetic parts of our business model, being a foundation technology provider, has taken some important steps forward. The TwinWay demonstrator project has achieved its feasibility certification by DNV and recently partnered with global contractor Worley which will fabricate the TwinWind, starting in about a year from now.
In summary, over a period of significant increased political ambitions, we have continued to enhance the project portfolio value and have taken significant steps forward in maturing the patented TwinWind technology, all in line with the plan set forth at the time of the IPO in
Presentation
Dial-ins for conference call: SE +46 8 5055 8373 /
Link to webcast: https://tv.streamfabriken.com/hexicon-q3-2021
Link to the report
The interim report is attached to this announcement and available at https://www.hexicon.eu/investors/report-center/
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