OXE Marine Q4’19: Mixed performance

Research Note



OXE Marine reported both higher sales and losses in Q4 compared to our forecast. We believe the operations are moving in the right direction with growing sales which in turn is required to reach profitability. We argue that the path to profitability will not be linear, and OXE Marine will continue to be an investment for the patient.



Oskar Vilhelmsson

Henrik Alveskog

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