contentSlug

type

ContentSlug_ContentQuery

slug

ContentPageContentQuery

content

trendingContent

query ContentSlug_ContentQuery(
  $contentSlug: String!
  $type: [ContentType!]
) {
  ...ContentPageContentQuery_13QmVO
}

fragment CompanyDetails_Content on Content {
  __isContent: __typename
  companies {
    name
    description
    pageUrl
    id
  }
}

fragment ContentBasicInfo on Content {
  __isContent: __typename
  id
  type
  title
  lang
  companies {
    viewerIsFollowing
    id
    name
    pageUrl
  }
  tags {
    viewerIsFollowing
    id
    name
    pageUrl
  }
  ...PublishingDetails
  ...Reactions
}

fragment ContentMetadata on Content {
  __isContent: __typename
  type
  title
  lang
  pageUrl
  alternatePageUrls: translations {
    __typename
    pageUrl
    lang
  }
  imgUrl
  description
  ... on Video {
    liveTime
    videoUrl
  }
  ... on Webcast {
    liveTime
    videoUrl
  }
}

fragment ContentPageContentQuery_13QmVO on Query {
  content(slug: $contentSlug, type: $type) {
    __typename
    id
    type
    title
    isPremium
    lang
    htmlBody
    summary
    companies {
      forum {
        latestPosts {
          ...ForumPosts
        }
      }
      name
      id
      viewerIsFollowing
      pageUrl
      defaultInstrument {
        isin
        id
        marketOpen
        marketClose
        marketplace {
          region
        }
        returns {
          total
        }
      }
    }
    tags {
      viewerIsFollowing
      id
      name
      pageUrl
    }
    createdAt
    ... on Video {
      liveTime
    }
    ... on Webcast {
      liveTime
    }
    slug
    ... on CompanyReport {
      reportUrl
    }
    ... on ThirdPartyCompanyReport {
      reportUrl
    }
    ... on StockExchangeRelease {
      reportUrl
    }
    ...ContentBasicInfo
    ...ContentMetadata
    ...PriceAndRecommendation_Content
    ...CompanyDetails_Content
    ...ReportLink_Content
    ...KeyFigures_Content
  }
  ...TrendingContent_1jQ2Cn
}

fragment ForumPosts on ForumPost {
  text
  likesCount
  url
  author
  postedAt
  authorImgUrl
}

fragment KeyFigures_Content on Content {
  __isContent: __typename
  companies {
    defaultInstrument {
      estimateData {
        modelType
        reportingCurrency
      }
      snapshot {
        transaction {
          date
          actualized {
            year
            quarter
            revenue
            revenueGrowth
            ebitAdjusted
            ebitReported
            ebitda
            enterpriseValue
            epsAdjusted
            dividend
            dividendYield
            sharePrice
            nav
            navPerShare
            opexOfNav
            quarterlySharePrice
          }
          estimates {
            year
            quarter
            revenue
            revenueGrowth
            ebitAdjusted
            ebitReported
            ebitda
            enterpriseValue
            epsAdjusted
            dividend
            dividendYield
            sharePrice
            nav
            navPerShare
            opexOfNav
            quarterlySharePrice
          }
        }
      }
      id
    }
    id
  }
}

fragment PriceAndRecommendation_Content on Content {
  __isContent: __typename
  createdAt
  companies {
    name
    pageUrl
    defaultInstrument {
      priceData {
        tradeCurrency
      }
      snapshot {
        priceData {
          date
          lastPrice
          tradeCurrency
        }
        transaction {
          date
          recommendation
          targetPrice
        }
        prevTransaction {
          recommendation
        }
      }
      id
    }
    id
  }
}

fragment PublishingDetails on Content {
  __isContent: __typename
  createdAt
  publishers {
    name
    imgUrl
  }
  authors {
    __typename
    id
    name
    slug
    imgUrl
    jobTitle
  }
  ... on Video {
    liveTime
  }
  ... on Webcast {
    liveTime
  }
}

fragment Reactions on Content {
  __isContent: __typename
  id
  reactionGroups {
    reactionType
    reactionsCount
    viewerReacted
  }
}

fragment ReportLink_Content on Content {
  __isContent: __typename
  type
  isPremium
  ... on CompanyReport {
    reportUrl
  }
  ... on ThirdPartyCompanyReport {
    reportUrl
  }
  ... on StockExchangeRelease {
    reportUrl
  }
}

fragment TrendingContent_1jQ2Cn on Query {
  trendingContent(type: ARTICLE) {
    __typename
    id
    title
    lang
    pageUrl
    createdAt
    type
    imgUrl
    companies {
      squareLogoUrl
      name
      id
    }
    authors {
      __typename
      imgUrl
      id
    }
    publishers {
      imgUrl
    }
  }
}


hexicon-q224-earnings-preview-project-divestments-continue-to-be-in-focus

__typename

title

isPremium

lang

htmlBody

summary

companies

createdAt

publishers

authors

reactionGroups

pageUrl

translations

imgUrl

description

Analytiker

Lucas Mattsson

Hexicon är en projektutvecklare inom offshore vindkraft, med målet att öppnar upp nya marknader i länder med djupt vatten. Bolaget är också teknikleverantör med TwinWind, en patenterad flytande vinddesign. Tekniken möjliggör utökat nyttjande av global vindkraft och kan därmed bidra till ökad tillgång till förnyelsebar energi. Hexicon verkar på flera marknader i Europa, Afrika, Asien och Nordamerika.

Hexicon

Hexicon will publish its Q2 report on Wednesday at 8:00 am CEST. We expect the company’s revenue to continue to be modest, driven mainly by consulting fees. However, we expect operating loss to decrease due to improved cost control. More broadly, we believe that project divestments will be the main growth drivers in the coming years. We therefore look forward to hearing more details on potential divestments, with a particular focus on the important MunmuBaram project.

<p><img src="https://content.inderes.se/assets/f295af87-c5b0-4ab4-bdf4-6f26ba9c0cd6?width=595&amp;height=241" alt="Hexicon Q2&apos;24 Preview"></p>
<p>Hexicon will publish its Q2 report on Wednesday at 8:00 am CEST. We expect the company&#x2019;s revenue to continue to be modest, driven mainly by consulting fees. However, we expect operating loss to decrease due to improved cost control. More broadly, we believe that project divestments will be the main growth drivers in the coming years. We therefore look forward to hearing more details on potential divestments, with a particular focus on the important MunmuBaram project.</p>
<h2>Modest revenue but project divestments are key</h2>
<p>We forecast Hexicon&#x2019;s Q2 revenue to decrease by 25% year-on-year to 1.9 MSEK. In absolute terms, however, the decline is relatively modest. In a broader context, Hexicon&apos;s investment case and the path to cash flow neutrality largely depend on the successful development and divestment of its project portfolio. Therefore, we do not place too much emphasis on the quarterly revenue numbers. Instead, we focus on the progress of the late-stage projects, particularly the MunmuBaram project. We expect the company to divest a portion of this project in Q3, which could secure short-term funding and reduce the financial exposure to the project.</p>
<h2>Improved cost control but profitability remains negative</h2>
<p>We expect the company&#x2019;s operating loss to decrease to -33.1 MSEK (Q2&#x2019;23: -75.9 MSEK), largely because expenses related to the MunmuBaram project were not capitalized in the comparison period. Additionally, the pace of development in the project has slowed due to the upcoming structural change in ownership, leading to lower operational costs. The company&#x2019;s cash position at the end of Q1&#x2019;24 was 152 MSEK. However, given the still high cash burn rate and the need to repay the 75 MSEK credit facility by the end of 2024, we believe that the company will need additional capital this year. While we expect some of this capital to come from the sale of parts of the MunmuBaram project, we cannot rule out the possibility that the company will also seek alternative financing options beyond divestments.</p>
<h2>Divestments crucial in the near term</h2>
<p>Hexicon has indicated that it is seeking a new partner for the MunmuBaram project and intends to divest portions of it to support cash flow and reduce financial exposure to the project. Consequently, we are looking for any comments on the long-term ownership structure of the project and the company&#x2019;s outlook on its financing needs.</p>