Swedish offshore wind developer Hexicon reported a smaller loss before tax in the second quarter of 2025, supported by stronger revenue and a turnaround in operating profit.
The company posted a pre-tax loss of SEK 41.0 million (€3.67 million), down from SEK 47.8 million (€4.28 million) in the same period last year, according to interim results published on Wednesday.
Net revenue rose significantly to SEK 76 million (€6.8 million), compared with SEK 0.9 million (€0.08 million) in the second quarter of 2024. Operating profit swung to SEK 47.6 million (€4.26 million), compared with a loss of SEK 26.8 million (€2.4 million) in the prior-year period.
Cash flow from operating activities also improved, rising to SEK 11.0 million (€0.98 million), up from a negative SEK 19.3 million (€-1.73 million) a year earlier.
Hexicon attributed part of the performance to the completion of asset sales during the quarter. “During the report period, Hexicon completed the sale of the Sicily South and Sardinia Northwest floating wind projects to Ingka Investments and Oxan Energy,” the company said.
On financing, Hexicon noted that it is continuing discussions with lenders over a SEK 75 million credit facility, originally due to mature at the end of June. “The credit facility remains in force under current terms until ongoing negotiations are concluded,” the company added.
The results come as Hexicon continues to focus on project development and capital management in the growing floating wind sector.
