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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
OX2
OX2 (OX2) investor relations material
OX2 has been delisted
OX2 Q2 2024 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 2024 earnings summary25 Jul, 2024
Executive summary
Q2 2024 featured stable project progress, robust construction, and asset management growth, with over 2 GW of projects ready for sale and a management portfolio exceeding 5 GW.
The first battery storage project in Sweden (Bredhälla, 42.5 MW) was completed and sold, demonstrating strong margins and execution.
EQT's SEK 60/share cash offer for the company reached over 50% acceptance, with the acceptance period open until October 14 and regulatory approvals pending.
The total portfolio stands at approximately 47 GW, with 33 GW in development and 4.1 GW constructed or under construction.
Net sales for Q2 2024 were SEK 2,233 million, up 1.3% year-over-year, but H1 net sales fell 13.4% due to lower construction activity.
Financial highlights
Net sales LTM were SEK 7.3 billion, with a 5.5% operating margin and 9% ROCE.
Q2 2024 saw 43 MW sold, gross profit of SEK 224 million (9% of sales), and operating income of SEK -181 million (-8% of sales, excluding extraordinary items).
Gross margin for Q2 was 10.0%, impacted by lower project sales margins and an SEK 86 million impairment charge.
Net cash position at quarter-end was SEK 3,002 million, with an equity ratio of 57.7%.
Investments in the project development portfolio were SEK 50 million in Q2 and SEK 177 million year-to-date.
Outlook and guidance
Full-year 2024 outlook for improved operating income is maintained, but uncertainty has increased due to lengthy customer decision processes.
Most earnings for 2024 are expected in H2, with ongoing sales processes totaling nearly 2 GW.
Personnel and project development cost increases are expected to be below 5% for the full year.
Project development expenses have started to flatten, reflecting prior investments now yielding results.
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Frequently asked questions
OX2 AB develops and sells wind farms and solar parks in the Nordics and the Baltic countries. OX2 aims to be one of the leading developers within renewable energy and has built more than 400 wind turbines with a capacity of over 1,100 MW. The projects are constructed by other major players in the industry, but OX2 also provides construction works through partners. The company was incorporated in 2004 and is headquartered in Stockholm, Sweden.