Slide 1: Interim Report Q4 2024
FEBRUARY 19, 2025 INTERIM REPORT Q4 2024
Slide 2: Agenda
AGENDA • Floating Offshore Wind – global progress • Q4 Highlights • Status project portfolio • Status TwinWindTM technology • Status core markets • Sweden • Italy • South Korea • UK • South Africa • Q3 action plan follow up • Outlook YEAR-END REPORT 2024 | HEXICON AB (PUBL)
Slide 3: Floating Offshore Wind – Global Progress
FLOATING New Floating Wind OFFSHORE WIND Installation forecast 2023-2033 GLOBAL PROGRESS • 2024 – First year ever auction dedicated to commercial-scale 7% floating wind projects Europe • In total 1.9 GW was auctioned in OECD countries in 2024 240 GW in APAC 33% global project • In May 2024, France h
Slide 4: Q4 Highlights
Q4 HIGHLIGHTS EVENTS DURING THE QUARTER • Oct 10th MunmuBaram, South Korea signs Transmission Service Agreement (TSA) with Korea Electric Power Corporation (KEPCO) • Nov 4th Freja Offshore’s applications for Dyning and Cirrus are rejected by the Swedish government • Nov 28th The South Korean authori
Slide 5: Status Project Portfolio
Total portfolio Q4 - Stages Active projects Q4 - Gross MW Countries STATUS 882 Gross MW PROJECT 132 800 2 500 6 575 750 PORTFOLIO 7 850 15.3 GW 8.7 GW A diversified and world-class 4 550 Prospect Early Late project portfolio Sweden Italy South Korea South Africa UK • Active in 5 key markets Developm
Slide 6: TwinWind Technology
STATUS TWINWINDTM TECHNOLOGY • The Integrated Load Analysis (ILA) work with the wind turbine supplier, Mingyang, is progressing • The findings will be concluded in Q1 2025 INTERIM REPORT OCT-DEC 2024 | HEXICON AB (PUBL)
Slide 7: Sweden
STATUS CORE MARKETS SWEDEN • On November 4, the Swedish government rejected 13 offshore wind project applications - Cirrus and Dyning, MARELD PROJECT affected 2,500 MW • The first floating offshore wind farm in Sweden, • • JV Freja Offshore Partner Mainstream Vattenfall’s project Poseidon, was appro
Slide 8: Italy
STATUS CORE MARKETS ITALY • Ambitious renewable energy targets and strong 4 ACTIVE PROJECTS investor interest & 3 PROSPECTS • Rapid progress in floating wind power • JV AvenHexicon • Partner Avapa Energy • Approved regulation for an auction-based renewable • 4.6 GW secured seabed energy system area
Slide 9: South Korea
STATUS CORE MARKETS SOUTH KOREA • One of the global leading countries in floating offshore wind – backed by a strong political support and subsidy MUNMUBARAM system 750 MW • First auction for floating offshore wind held in 2024 • 100 % ownership • Electricity Business Licenses (EBLs) • The sudden im
Slide 10: UK
STATUS CORE MARKETS UK • Remains a global leader in floating wind TWINHUB DEMO • Established projects, dedicated leasing rounds, and 32 MW government-backed CfD system • 100% owner • AR4 winner • The sector is scaling up, positioning the UK at the • 32 MW, 2 floaters • Integrated FEED with forefront
Slide 11: South Africa
STATUS CORE MARKETS SOUTH AFRICA • Exploring floating wind as a solution to its energy GAGASI crisis, with power shortages and high energy prices 800 MW • Enormous offshore wind potential • • JV GenesisHexicon partner Genesis Eco- Energy • Entered the EIA1) stage OUTLOOK • New prospects in the pipel
Slide 12: Q3 Action Plan Follow-Up
Q3 ACTION PLAN FOLLOW-UP • Secure finances – delayed due to long regulatory process for MunmuBaram • Free up resources for prioritised projects • Cost review throughout our business • Cut resources • Cease selected market - and project activities • US • Pohang, South Korea • Put Cirrus and Dyning in
Slide 13: Outlook
OUTLOOK Priority • Secure and improve the company’s financial structure • Establish a new ownership structure for MunmuBaram • Accomplishing full or partial divestment of selected projects • Focus on maturing core projects INTERIM REPORT OCT-DEC 2024 | HEXICON AB (PUBL)
Slide 14: Thank you for listening!
Thank you for listening! HEAD OFFICE Östra järnvägsgatan 27 111 20 Stockholm, Sweden www.hexicongroup.com www.hexicongroup.com