Hexicon has reported several developments involving its floating offshore wind projects and technology during and after the second quarter of 2026. In April 2026, Hexicon entered into and completed a share purchase agreement with a global provider of marine and offshore engineering solutions for the divestment of the TwinHub project, held through Wave Hub Ltd. Hexicon divested its entire 100% ownership in the project, including related assets and liabilities, for a total purchase price of GBP 1.
In May 2026, Hexicon agreed to acquire the remaining 50% of Mareld Green Energy AB from its joint venture partner Mainstream Renewable Power. Hexicon acquired the shares for an upfront consideration of SEK 1, with an additional milestone-based consideration of €4.5 million payable if the project is awarded an offtake contract in a future auction. The project's permit application was subsequently rejected by the Swedish Government.
In June 2026, the European Patent Office Boards of Appeal upheld the Tilted Wind Tower patent owned by Freia Offshore AB, an associated company of Hexicon, dismissing an appeal by EnerOcean. The patent remains maintained as granted, and the decision is final. It remains in force in the European jurisdictions where it has been validated. The Tilted Wind Tower patent protects the core element of TwinWind, the dual-turbine floating offshore wind platform developed by Hexicon and to be commercialised through Freia Offshore AB.
In July 2026, the Swedish Government rejected the permit application for Hexicon's Mareld offshore wind farm. The project was planned approximately 40 kilometres west of Orust, within Sweden's exclusive economic zone. Once fully developed, the wind farm was expected to generate up to 12 TWh of renewable electricity annually.
In August 2026, Hexicon CFO Max Ek decided to leave the company to pursue an opportunity outside the company. The CFO responsibilities and related duties will be managed within Hexicon's existing organisation during the transition.
For the second quarter of 2026, Hexicon reported net revenue of SEK 1.3 million, compared with SEK 5.2 million in the same period of 2025. The operating loss was SEK 12.5 million, compared with an operating profit of SEK 52.8 million a year earlier. The loss before tax was SEK 55.3 million, compared with SEK 36.2 million in the second quarter of 2025, while cash flow from operating activities was negative at SEK 9.4 million, compared with positive cash flow of SEK 11.0 million. Basic and diluted earnings per share were SEK -0.15, compared with SEK -0.11.
For the first half of 2026, net revenue was SEK 2.1 million, compared with SEK 10.8 million in the first half of 2025. The operating loss was SEK 28.6 million, compared with an operating profit of SEK 32.6 million. Profit before tax was SEK 21.1 million, compared with a loss of SEK 57.9 million. Cash flow from operating activities was negative at SEK 22.1 million, compared with negative SEK 2.4 million, while basic and diluted earnings per share were SEK 0.06, compared with SEK -0.17.
