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

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

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

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(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.)