Second quarter (April - June 2020)

• Net turnover of SEK 21.8m (SEK 24.2m)
• Gross Profit of SEK 1.7m (SEK 0.3m) or gross margin of 8% (1%)
• Operating Loss/EBIT of SEK -12.2m (SEK -19.4m)
• Result for the period of SEK -14.3m (SEK -22.5m)
• Order book grew by 6% organically to EUR 5.4 m or SEK 57 m (EUR 5.1 m or SEK 56 m as at end of Q1 2020)

First half of 2020 (January - June 2020)

• Year to date net turnover of SEK 32.1m (SEK 27.7m)
• Gross Profit of SEK 4.1m (SEK -10.4m) or gross margin of 13% (-37%)
• Operating Loss/EBIT of SEK -29.8m (SEK -46.6m)
• Result for the period of SEK -33.8m (SEK -55.6m).
• YTD the order book has grown 33% organically to 5.4 MEUR or 57 MSEK at the end of Q2 2020 (EUR 4.1m or SEK 43 m as at end of Q4 2019)

Significant events during the Second quarter

• PanLink, headquarted in Malmö, Sweden selected as the production partner for the OXE300.
• Outdoor Network Manufacturing in the USA selected as the new manufacturing partner for the 125hp to 200hp series.
• OXE Marine delivered the first OXE300 units to a customer.

Significant events after the reporting period

• 22 July: Following the successful collaboration with the BMW Group of marinizing their 3 litre, 6 cylinder bi-turbo engine for use in the OXE300s, OXE Marine AB and BMW agreed to co-brand the OXE300.
• 22 July: OXE Marine AB entered into a Preliminary Development Agreement (PDA) with the BMW Group to carry out a preliminary study of its 2.0 litre, 4 cylinder turbo diesel engine for marine application - to power the Company’s next generation of OXE200 series.
• 18 August: First commercial order from the US Coast Guard following testing and validation
• 21 August: Successfully concluded certification run for EPA and IMO emission test.