Hexicon reported a sharply wider operating loss for the fourth quarter of 2025, weighed down by an impairment linked to its TwinHub floating wind project.
The company posted an operating loss of SEK 152.0 million (€14.2 million) for the quarter, compared with a loss of SEK 11.9 million (€1.12 million) in the same period a year earlier.
During the reporting period, Hexicon recognised a SEK 115 million (€10.8 million) impairment related to the 32MW TwinHub floating wind project in the Celtic Sea. The company said rising inflation and supply chain costs had eroded the project’s value as it continues efforts to divest the asset.
Chief executive Marcus Thor described the quarter as a “period of focus and reflection” amid a market environment that is “not without friction” and requires “discipline and selectivity”.
“Ensuring staying power is essential in this phase of the market. During and after the quarter, we therefore continue to work actively with financing solutions and initiated measures to streamline the organisation and reduce costs,” Thor said.
He added: “Looking ahead, our priorities are clear. We will continue to protect liquidity, focus on our most valuable projects, advance partnering and divestment discussions, and move our patented TwinWind technology further along the path toward commercial application.”
