Sweden's OXE Marine posts break-even Q3 EBITDA, gross margin nearly doubles

By Reuters News


Overview

  • Sweden's diesel outboard maker Q3 revenue fell 24.8% yr/yr amid continued soft demand

  • Company achieved break-even EBITDA and gross margin rose to 59% from 30%

  • Improved profitability driven by higher Parts & Accessories and engineering services sales


Outlook

  • Company prioritises converting pipeline to propulsion deliveries and growing Parts & Accessories

  • Company says cost control remains a priority amid uncertain demand environment


Result Drivers

  • SALES MIX - Co said improved profitability was supported by strong growth in Parts & Accessories and engineering services

  • PROPULSION SALES - Co said propulsion sales increased in Q3 despite overall soft demand

  • COST CONTROL - Co said operating expenses remained below target, supporting profitability


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Revenue

SEK 32.20 mln

Q3 Loss Per Share

SEK 0.01

Q3 Gross Margin

59.00%

Q3 EBITDA

SEK 0

Q3 Gross Profit

SEK 18.90 mln


Analyst Coverage

  • Wall Street's median 12-month price target for Oxe Marine AB is SEK0.35, about 89.2% above its October 22 closing price of SEK0.19


Reuters Recommended Reads

  • Oct 22 - Sweden's Atlas Copco Q3 revenue slightly beats estimates, orders up 29%

  • Oct 22 - Atlas Copco misses profit view and repeats market outlook, knocking shares

  • Oct 22 - Sweden's Sandvik Q3 revenue beats estimates on order growth


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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