Sweden's OXE Marine posts break-even Q3 EBITDA, gross margin nearly doubles
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: ID:nMFN3pMdrC
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Revenue |
| SEK 32.20 mln |
|
Q3 Loss Per Share |
| SEK 0.01 |
|
Q3 Gross Margin |
| 59.00% |
|
Q3 EBITDA |
| SEK 0 |
|
Q3 Gross Profit |
| SEK 18.90 mln |
|
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%
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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.)