OXE Marine (OXE) Q2 2026 earnings summary

Executive summary

• Net turnover for Q2 2026 was SEK 15.5m, down 75% year-over-year, reflecting continued weakness in the marine market and delays in governmental projects.

• Gross margin improved to 40% from 37% year-over-year, driven by product mix and engineering services.

• EBITDA for Q2 2026 was SEK -18.1m, with a net loss of SEK -27.0m and EPS of SEK -0.03.

• Commercial progress included OEM agreements with Damen Compact Crafts and a Dutch government contract via Tideman Boats.

• SEK 60m was raised through directed share issues, strengthening the balance sheet.

Financial highlights

• Q2 2026 net turnover: SEK 15.5m (Q2 2025: SEK 61.2m); H1 2026: SEK 32.9m (H1 2025: SEK 112.4m).

• Gross profit Q2 2026: SEK 6.3m (Q2 2025: SEK 22.8m); gross margin 40% (37%).

• EBITDA Q2 2026: SEK -18.1m (Q2 2025: SEK -0.7m); H1 2026: SEK -34.2m (H1 2025: SEK -6.0m).

• Net loss Q2 2026: SEK -27.0m (Q2 2025: SEK -9.6m); H1 2026: SEK -52.5m (H1 2025: SEK -20.8m).

• Cash on hand at quarter end: SEK 13.8m (Q2 2025: SEK 4.2m).

Outlook and guidance

• Increased enquiries and reference installations expected to gradually convert to revenue.

• Focus remains on execution, customer service, and driving towards profitability.