Hexicon AB (publ) (HEXI) Q4 2024 Earnings Call

Investor webinar replay

Replay transcript excerpt

Welcome to the Hexacon Q4 2024 report presentation. For the entire time of the presentation, participants will be in listen-only mode. If you are listening to the presentation via webcast, you can ask written questions using the form below. Now I will hand the conference over to Speaker CEO Marcus Thor. Please go ahead. Thank you. Good morning, everyone. And thank you all for dialing in. and listening. I'm here today to provide an update of our business and the industry that is floating offshore wind. My name is Marcus Thor. I'm the CEO of Hexicon. So let's get to it. Today I'll run through first what's happened within floating offshore wind globally. And there's actually been quite a lot recently. I'll then transition over to a few of our key highlights for the quarter. and provide an update of our core projects and end by looking ahead. So to start things off, we are in a time of a rather challenging market. There's no denial of that. With that said, what's happened over the last few years is a delay of the deployment of floating offshore wind. So we're at this transition phase where you can take similarities to oil and gas, as an example, that went from onshore to shallow water offshore, went deeper and deeper, and at a certain point in time, for oil it was the mid-80s, it went to floating production units. Wind has made a similar journey and are in the transition between fixed bottom wind and floating wind. A few years ago, That transition or that deployment of floating wind, we foresaw at that time that it would really take off. Now it's taken a few years longer, but what we've finally seen over the last year is first ever time when there's a significant volume of auctions that have been closed and awarded to floating projects. So just to give you a few examples...