Oxe Marine Ab ( (CMMCF) ) has released its Q4 earnings. Here is a breakdown of the information Oxe Marine Ab presented to its investors.
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OXE Marine AB is a Swedish company known for its innovative high-performance diesel outboards, which offer improved performance and fuel efficiency, catering to the global marine sector.
In its latest earnings report for the fourth quarter of 2024, OXE Marine AB reported a consolidated net turnover of SEK 43.6 million, a decrease from the previous year’s SEK 62.7 million. Despite the decline in revenue, the company achieved a gross margin improvement to 27% from 23% in the same quarter last year.
Key financial highlights include a full-year net turnover of SEK 173.8 million, with a gross profit of SEK 54.8 million, reflecting a significant gross margin increase to 32% from 20% in 2023. The company successfully completed a comprehensive recapitalization, including a rights issue and debt restructuring, which eliminated all interest-bearing debt and improved its financial position.
Strategically, OXE Marine secured significant orders from U.S. governmental agencies, including the largest in its history valued at USD 6.6 million. The company’s U.S. subsidiary achieved EBITDA profitability, underscoring the growing demand in the governmental segment.
Looking forward, OXE Marine enters the new financial year with momentum from its strengthened financial position and substantial order backlog, positioning itself for potential growth and profitability in the coming years.