Hexicon Ab · OMXSTO:HEXI
Hexicon Ab — FY2022 Earnings Presentation
22 slides from Hexicon Ab's earnings presentation, Feb 23, 2023
Slide 1: Operations Update Year-End Report
OPERATIONS UPDATE YEAR-END REPORT 2023-02-23 OPERATIONS UPDATE 2024-02-06
Slide 2: Agenda
AGENDA • Floating offshore wind • Hexicon in brief • Business update • Outlook OPERATIONS UPDATE 2024-02-06
Slide 3: Financial, Operational and 2023 Outlook
FINANCIAL OPERATIONAL 2023 OUTLOOK Bridge financing secured Strong development in projects Revenue mode through divestments • Secured bridge financing to enter the • AvenHexicon obtained priority rights • Recycle capital through next stage – carried out directed over two water areas, totalling 2,550
Slide 4: Floating Offshore Wind & Market Development
FLOATING OFFSHORE WIND & market development OPERATIONS UPDATE 2024-02-06
Slide 5: Floating Wind – A Global Overview
FLOATING WIND – A GLOBAL OVERVIEW New floating installations expected to grow at a CAGR of over 50% until 2030 New floating wind installations, Global (MW) 9900 6900 4900 2838 1048 1166 1400 57 96 101 330 2021 2022e 2023e 2024e 2025e 2026e 2027e 2028e 2029e 2030e 2031e OPERATIONS UPDATE Source: GWEC
Slide 6: Remarkable Market Acceleration
REMARKABLE MARKET ACCELERATION Europe and Asia in the front of creating markets ready for floating wind expansion • First floating lease auction in the US in dec 2022. • US targets of floating offshore wind installation. 11% • First floating CfD auction in UK + • South Korea: Vestas signs the world’
Slide 7: Early Position to Capitalise as Market Grows
EARLY POSITION TO CAPITALISE ON AS MARKET GROWS Local presence and ongoing development in key upcoming markets Hexicon local presence: • Auction market – Hexicon in discussions regarding both technology & projects. 11% Hexicon team in UK, Iberia & Sweden: Hexicon team in South Korea: • Won the first
Slide 8: Hexicon in Brief
HEXICON IN BRIEF OPERATIONS UPDATE 2024-02-06
Slide 9: The Dual Business Model
THE DUAL BUSINESS MODEL Project developer & Technology provider OPERATIONS UPDATE 2024-02-06
Slide 10: TwinWind Technology Movie
TWINWIND TECHNOLOGY MOVIE OPERATIONS UPDATE 2024-02-06
Slide 11: Business Update
BUSINESS UPDATE OPERATIONS UPDATE 2024-02-06
Slide 12: Financial Update 2022
FINANCIAL UPDATE 2022 A year of investing in maturing technology & projects FULL YEAR CASH OUTFLOW -284 MSEK PROJECTS Portfolio growth 52% TECHNOLOGY TwinWind development (including TwinHub) 38% OVERHEAD 10 % OPERATIONS UPDATE
Slide 13: Portfolio Update
PORTFOLIO UPDATE Key achievements: ITALY: Projects totalling 7,100 MW, prospects of 2,150 MW TAIWAN: Local presence, ongoing development Scotland, 100 MW Sweden, 3,000+ MW PROJECTS Ireland, 2,000 MW England, 32 MW PROSPECTS Italy, 2,550+ MW Spain & Portugal Italy, 7,100+ MW PRESENCE USA South Korea,
Slide 14: South Korea - MunmuBaram
SOUTH KOREA - MunmuBaram The world’s largest floating wind farm KEY ACHIEVEMENTS INFORMATION Developing the world’s largest floating wind Joint developer Shell farm with Shell 2027 • The project was originated by the JV Capacity ~1,300 MW Commercial Operation Date (COD) Hexicon Korea. • As of end 20
Slide 15: South Korea - MunmuBaram: Vestas preferred supplier
SOUTH KOREA - MunmuBaram Vestas selected as preferred supplier VESTAS – PREFERRED SUPPLIER OF TURBINES SIZE COMPARISON Vestas selected for supply & installation of: • 84 x V236-15.0 MW turbines. MunmuBaram tip Eiffel tower Height ~258m Height 330m • 115 m blades • 236 m in diameter • 40,000m2 • Area
Slide 16: Sweden – Freja Offshore
SWEDEN – Freja Offshore Three selected sites outside the coast of Sweden KEY ACHIEVEMENTS INFORMATION Securing attractive deep-water areas Joint developer Mainstream 2029 • Hexicon works with a solid first mover Renewable Power Commercial operation date (COD), Phase 1 advantage in deep waters. Capac
Slide 17: Sweden – Freja Offshore
SWEDEN – Freja Offshore Power production beyond the horizon DYNING MARELD KULTJE OPERATIONS UPDATE Source: Nordconsult 2024-02-06
Slide 18: Italy
ITALY AvenHexicon holds a project & prospect portfolio totalling 9,000+ MW KEY ACHIEVEMENTS INFORMATION Large scale opportunity in novel offshore Joint developer Avapa Energy Commercial operation date wind market (COD) • The EU Green Deal boosts Italian offshore Capacity wind. Project/Prospect 7,100
Slide 19: United Kingdom – TwinHub
UNITED KINGDOM – TwinHub The TwinWind demonstration project outside the coast of Cornwall KEY ACHIEVEMENTS INFORMATION TwinWind full-scale offshore installation Capacity 32 MW • UK is the most mature market in the world. 2025 • UK held the first floating auction in 2021 Commercial Operation Date (CO
Slide 20: Outlook
OUTLOOK OPERATIONS UPDATE 2024-02-06
Slide 21: Near Term Priorities
NEAR TERM PRIORITIES RAMP UP REVENUE Increasingly recycle capital through selected divestments within the portfolio. TWINHUB Push forward with TwinHub towards FID and syndicate funding partners for both late-stage development and construction phase. PROJECT PORTFOLIO Mature project portfolio and add
Slide 22: Thank You
THANK YOU OPERATIONS UPDATE 2024-02-06