OXE Marine (OXE) Q1 2025 earnings summary

Executive summary

• Achieved highest ever quarterly propulsion and total sales in Q1 2025, with net turnover up 29% year-over-year to SEK 50.5m.

• Gross margin improved to 34% from 27% year-over-year, reflecting margin improvement and cost control.

• EBITDA loss narrowed to SEK -5.2m from SEK -18.9m, and net loss reduced to SEK -10.7m from SEK -33.3m year-over-year.

• OXE Marine received its largest order ever (USD 6.6m) from a US Government agency.

• US subsidiary achieved bottom-line profitability, contributing positively to group results.

Financial highlights

• Net turnover: SEK 50.5m (SEK 39.2m), up 29% year-over-year.

• Gross profit: SEK 16.9m (SEK 10.7m); gross margin: 34% (27%).

• EBITDA: SEK -5.2m (SEK -18.9m); net loss: SEK -10.7m (SEK -33.3m).

• Earnings per share: SEK -0.02 (SEK -0.10).

• Cash on hand at quarter end: SEK 15.2m (SEK 15.6m).

Outlook and guidance

• Focus remains on achieving profitability and growing sales, with increased marketing and larger project initiatives planned.

• Management is monitoring US tariffs and macroeconomic factors, aiming to mitigate risks and leverage US operations.