Brief: OXE Marine Preliminary Q1 Net Turnover Up At SEK 10.3 Mln

Oxe Marine AB

20/04/2020 11:09

April 20 (Reuters) - Oxe Marine AB  OXEMA.ST :
    * OXE MARINE AB (PUBL) - Q1 2020 PRELIMINARY RESULTS AND
BUSINESS
UPDATE
    * SALES AT END OF Q1 2020 WERE AFFECTED BY COVID-19 CRISIS
WHERE
CUSTOMERS REQUESTED DEFERRAL OF THEIR ORDERS
    * Q1 NET TURNOVER OF SEK 10.3M (SEK 3.6M)
    * Q1 RESULT FOR PERIOD OF SEK -19.6M (SEK -33.1M)
    * IS CONFIDENT OF MEETING ITS FINANCIAL TARGET OF ACHIEVING
ORGANIC SALES GROWTH IN EXCESS OF 50% PER YEAR FOR 2020
    * SOME VOLATILITY TO THIS MARGIN IS EXPECTED GOING FORWARD,
TREND
IS GENERALLY UPWARDS, PARTICULARLY WHEN HIGHER MARGIN OXE300 IS
INTRODUCED IN SECOND HALF OF 2020
    * COMPANY ACHIEVED ITS BEST PRODUCTION NUMBERS IN Q1 WITH NO
DOWNTIME
    * ON CORONAVIRUS: IMPACTED COMPANY'S ACTIVITIES,
PARTICULARLY WITH
ITS SUPPLY CHAIN AND CRUCIAL COMPONENTS SOURCED FROM EUROPE
    * COMPANY'S ORDER BOOK, PARTICULARLY FOR OXE300S, DID
INCREASE

Source text for Eikon:  ID:nWkr7T34tz 
Further company coverage:  OXEMA.ST 

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