OXE Marine (OXE) Q4 2025 earnings summary

Executive summary

• Net turnover for Q4 2025 was SEK 30.7m, down 29% year-over-year due to delayed US governmental projects and a challenging trading environment.

• Full-year net turnover increased to SEK 184.1m, up from SEK 173.8m in 2024, with operational improvements and cost discipline yielding results.

• Strategic initiatives included a development agreement with GM Marine and securing the largest order in company history (USD 6.6m from a US government agency).

Financial highlights

• Q4 gross profit was SEK 8.1m (down from SEK 11.6m), with a gross margin of 26% (27% last year); full-year gross profit was SEK 59.7m with a stable 32% margin.

• Q4 EBITDA was SEK -16.9m (flat year-over-year); full-year EBITDA improved to SEK -33.4m from SEK -52.7m.

• Net loss for Q4 was SEK -23.7m (improved from SEK -29.8m); full-year net loss was SEK -61.6m (improved from SEK -97.9m).

• EPS for Q4 was SEK -0.03 (SEK -0.07 last year); full-year EPS was SEK -0.08 (SEK -0.29 last year).

Outlook and guidance

• US governmental market expected to remain slow in early 2026, but opportunities are increasing in Europe and other regions.

• Focus remains on achieving profitability and leveraging new partnerships and product developments.