OXE Marine revenue dropped to SEK 15.5 million, down from SEK 61.2 million in the company’s second quarter 2026, with EBITA declining to SEK –18.1 million (SEK –0.7 million) as the company experienced continued weakness in the market.
Gross profit declined to SEK 6.3 million, down from SEK 22.8 million, with a gross margin of 40% (37%).
The result for the quarter dropped to SEK -27 million from SEK -9.6 million.
For the half year ending June 2026, revenue dropped to SEK 32.9 million from SEK 112.4 million, with a gross profit of SEK 12.1 million, down from SEK 39.7 million and a gross margin of 37%, up from 35%.
EBITDA was SEK -34.2 million compared to SEK -6 million and the result for the quarter was SEK -52.5 million compared to SEK -20.8 million.
Challenging market
“Despite the challenging market, we achieved several important commercial milestones,” said OXE Marine CEO Paul Frick.
“We signed an OEM agreement with Damen Compact Crafts, part of the Damen Shipyards Group and one of the largest shipyards in Europe, under which OXE outboards will become the standard propulsion solution across relevant vessels in its HDPE workboat range.”
He continued: “Tideman Boats also selected twin OXE225 engines to power a new fleet of Caribbean Support Craft for a Dutch Government Authority.
“This marks another important step in OXE’s continued expansion within the governmental segment and builds on our long-standing partnership with Tideman.”
Slow quarter sales wise
And Paul explained that while it has been a slow quarter sales wise, the company has been very productive when it comes to supporting customers with new installations.
“Several of the installations are on high profile customers where they are in the beginning phase of introducing OXE diesel outboards into their fleets.”
OXE Marine is also continuing the rollout of OXE Connect with more customers signing up to the platform, a momentum which the company says reinforces its view that connected services can become an increasingly important part of the OXE offering.
“Going into the third quarter, we continue to see an increase in enquiries as well as evaluation of reference new installations, and while it will take time for this pipeline to convert into revenue, these wins represent an important step towards a diversified and balanced customer base,” concluded Paul.
