OXE Marine (OXE) Q3 2025 earnings summary

Executive summary

• Net turnover for Q3 2025 was SEK 42.8m, down 6% year-over-year; gross margin declined to 30% from 40%.

• Propulsion sales grew 15% to SEK 34.8m, while Parts & Accessories sales dropped 50% to SEK 7.6m.

• EBITDA for Q3 was SEK -9.9m, and net loss was SEK -16.8m; EPS improved to SEK -0.02 from SEK -0.04.

• Year-to-date net turnover increased 18% to SEK 154m, with gross margin at 34%.

• No significant events occurred in Q3, but the company secured its largest-ever order (USD 6.6m) earlier in the year.

Financial highlights

• Q3 gross profit was SEK 12.8m, down from SEK 18.1m year-over-year.

• Operating expenses decreased 6% to SEK -22.6m, reflecting cost control.

• Cash flow from operating activities in Q3 was SEK 5.3m, supported by positive working capital changes.

• Cash on hand at quarter-end was SEK 9.3m, down from SEK 44.3m at the end of 2024.

• Total assets at quarter-end were SEK 262.2m, with equity of SEK 148.9m.

Outlook and guidance

• Management remains confident in the outlook, with new global projects and a strong US presence.

• Production of the new 2026 model based on the OXE300 platform will begin in Q4, with launch at the METS trade show.