Hexicon AB (publ) (HEXI) Q3 2024 Earnings Call

Investor webinar replay

Replay transcript excerpt

and thank you for tuning in and listening. I'm here today to provide an update of our business in relation to us this morning releasing our Q3 report. My name is Marcus Thor, and I'm the CEO of HexiCom. Very much welcome. What I'll do today is to go through a couple of items. I will start to give an update on the floating offshore wind industry, both from a global perspective, but also touch base on Sweden, where there's a lot that has happened over the last period. I'll present a brief on Hexacon before going into the highlights over the last period, which for us has been a lot about our project over in South Korea, Munmubarang. And then I'll end by looking ahead. So let's get to it. To start off with, floating offshore wind, an industry that has enormous potential. And to recall, what I've mentioned a few times previously, the way we look at it, the basis for the enormous potential of floating offshore wind is that most offshore wind areas from a global perspective are in deep waters. Now, by the end of 2023, there were 20, sorry, 270 megawatts of floating offshore wind installed globally. And just to put that in perspective, compared to bottom fixed offshore wind, which is around 75 gigawatts or 75,000 megawatts, it's a huge difference. And this acceleration of deploying floating wind has been delayed over the last couple of years and the sentiment of the industry. So what we're seeing today now in forecasts is that this acceleration of the installations of offshore wind will really take off towards the end of this decade. That will be led, as we see it, by Europe and Asia. Now looking at Sweden in particular, a lot has happened here. So I will start to note what happened on November 4th here, when the Swedish government rejected 13 offshore wind projects in the B...