OXE Marine sales have remained resiliant with 15% growth in propulsion sales in the third quarter of 2025.
Total sales in the quarter amounted to SEK 42.8 million, compared to SEK 45.6 million in the same period in 2024 – a decline of 6% with gross profit amounting to SEK 12.8 million (SEK 18.1 million) with a gross margin of 30% (40%).
Sales of Parts and Accessories (P&A) were SEK 7.6 million (SEK 15.3 million) – a 50% decrease compared to the same quarter of the previous year.
EBITDA was SEK –9.9 million (SEK –5.7 million) and the consolidated result for the quarter was SEK -16.8 million (SEK -14.8 million).
Apart from fulfilling existing US contracts, new sales during the quarter came from Europe, Asia and South America showing the increasing diversification of OXE projects.
Paul Frick
For the first nine months of 2025, OXE Marine’s net turnover amounted to SEK 154 million (SEK 130.2 million) with a gross profit of SEK 51.9 million, compared to SEK 42.6 million for the first nine months of 2024, with a gross margin of 34% (33%).
Operating expenses for the quarter decreased by 6% and EBITDA was SEK -16.4 million (SEK –36.4 million).
“We continue to see opportunities for growth and continue to build our market and see increased requests for OXE engines in larger projects,” explained Paul Frick, OXE Marine CEO.
“Apart from fulfilling existing US contracts, new sales during the quarter came from Europe, Asia and South America showing the increasing diversification of OXE projects. The OXE brand continues to grow and gain trust among marine professionals worldwide.”
Impact of tariffs
He added: “In response to an increasingly competitive outboard market, with several industry-wide discount campaigns, OXE ran targeted discount programs in select markets to maintain competitiveness.
“This resulted in a weaker gross margin for the quarter, although this is not expected to continue going forward. Gross margins were also negatively affected by a stronger SEK against the USD and EUR.”
And he explained that tariff increases in the US have already had an impact, rising from 2.5% to 15% on engines.
Looking ahead, he said OXE remains confident in the company’s outlook, with OXE propulsion solutions being specified into several new projects.
In the fourth quarter, production will begin for a new 2026 model based on the current OXE300 platform.
The product launch will take place at the Metstrade in November.
