Hexicon's n revenue from July to September 2024 was SEK 3.8 million, compared to SEK 0.8 million for the same period last year. The operating loss was SEK 32.9 million, compared to SEK 27.6 million last year.
The loss before tax for the period was SEK 54.1 million, compared to SEK 44.3 million last year. Basic and diluted earnings per share were SEK -0.15, compared to SEK -0.14 last year. Cash flow from operating activities was SEK -28.3 million, compared to SEK -80.4 million last year.
Net revenue from January to September 2024 was SEK 5.2 million, compared to SEK 5.1 million for the same period last year. The operating loss was SEK 79.5 million, compared to SEK 147.9 million last year. The loss before tax for the period was SEK 134.0 million, compared to SEK 146.5 million last year. Basic and diluted earnings per share were SEK -0.37, compared to SEK -0.42 last year. Cash flow from operating activities was SEK -65.3 million, compared to SEK -104.2 million last year.
Hexicon completed the operational takeover of MunmuBaram at the end of June, following months of preparations and handover work. From 1 July, Hexicon formally took over the operating responsibility for the MunmuBaram project. In August, South Korean authorities approved the Environmental Impact Assessment (EIA) for the MunmuBaram project. This approval is a critical milestone for the project, as an approved EIA is required to participate in the offtake auction.
On 10 October, the MunmuBaram project reached the next milestone by entering into a Transmission Service Agreement (TSA) with Korea Electric Power Corporation (KEPCO). On 4 November, the Swedish Government announced the rejection of 13 submitted applications to build offshore wind farms in the Baltic Sea, south of the Sea of Åland. 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 22 November, 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.
