Interim Report
Second Quarter 2022
Results presented in the interim report are consolidated from
- Consolidated Net turnover amounted to
SEK 45.7 m. -
Consolidated Gross Profit amounted to
SEK 9.7 m with a gross margin of 21%. -
Consolidated EBITDA amounted to
SEK -11.5 m. -
Consolidated EBIT amounted to
SEK -18.1 m. -
The consolidated result for the quarter amounted to
SEK -20.6 m. -
Consolidated EPS and DEPS amounted to
SEK -0.08 .
January - June 2022
- Consolidated Net turnover amounted to
SEK 77.1 m. -
Consolidated Gross Profit amounted to
SEK 18.7 m with a gross margin of 24%. -
Consolidated EBITDA amounted to
SEK -26.4 m. -
Consolidated EBIT amounted to
SEK -39.2 m. -
The consolidated result for the period amounted to
SEK -44.1 m. -
Consolidated EPS and DEPS amounted to
SEK -0.18 .
Significant events during the Second quarter
- There were no significant events during the reporting period.
Significant events after the reporting period
- There were no significant events after the reporting period.
A word from the CEO
"Delivering our best quarter ever is solid performance, with a growth of 110% and steady P&A development we continue to show progress. Doing this at the same time as when the world is somewhat upside down with supply chains that are not in balance, war in
When working with transformation it is important to not confuse motion and progress. A rocking horse keeps moving but does not make any progress. Therefore, during the year we have taken a close look at what we do and how we do it, and results are gradually coming from this work shown by our consecutive growth and recurring customer base.
We have expanded our routes to the market globally from working with distributors to also include dealers, OEM, government and fleet customers and house accounts. Instead of assuming we have the depth of knowledge about our customers, we now work intensively to truly being their partner and contributing to making our customers successful. That require big ears, trustworthy actions, passion, and the ability to abandon assumptions and instead walk the extra mile as assumptions are the termites of relationships, instead we put ourselves in our customers shoes and learn from this.
What sets us apart as a company today is that we try to listen to everyone that owns and operates our product, regardless of where it is bought. This feedback loop gives us insights to further enhance our product, as well as being attentive to the customer needs to constantly improve our service levels. It has also paid off - during the last 6 months we have had more buying, and recurring, customers than the previous two years. When our customers trust us with a purchase today, we deliver a "fresh engine" with short lead-times to commission. From some 400 days previously in time to commission an engine (from being produced to hung on the back of a transom), to less than 100 days on average today world-wide. As a result of the investment in our supply chain network over the past two years, we can still deliver engines in a matter of weeks.
Playing in the arena of "transition technology" we already today probably deliver the world's most environmentally friendly high-performance outboard engine. Looking towards the horizon, it is a very interesting arena to work in, where we actively participate in discussions on the evolution of marine industry.
Our overall sales performance during the quarter was very promising and consolidated sales amounted to
The gross margin was, as expected, lower during the quarter. This was in part due to the US stock acquired during the Transaction in Q1. The acquired stock has a higher book value therefore generating a lower gross margin when sold. This effect will taper off when the remainder of the stock is sold during Q3. Gross margin was also affected by a discount campaign during the quarter. As we wrote in the press release dated
Consolidated Parts & Accessories sales ("P&A") amounted to
Finally, the merger of what is now OXE Marine INC and OXE Marine Manufacturing INC with OXE Marine is truly a match made in heaven and will likely go down in history as one of the happiest marriages ever.
This disclosure contains information that
Certified Adviser
For further information, please contact:
Jonas Wikström, Chair of the board, jonas.wikstrom@oxemarine.com, +46 70 753 65 66
https://news.cision.com/oxe-marine-ab/r/oxe-marine-ab--publ--interim-report-1-april-to-30-june-2022,c3602417
https://mb.cision.com/Main/16067/3602417/1606666.pdf
https://news.cision.com/oxe-marine-ab/i/q2-2022-interim-report,c3071267
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