OXE Marine Q4’21: Initial comment
Redeye’s expectation on Q4 results were only slightly higher than reported numbers. OXE Marine is showing strong sales growth and solid execution. However, earnings and cash flow are still in negative territory, as expected. The acquisition of US companies Diesel Outboards and Outdoor Network Manufacturing is now completed, which is basically the beginning of a new era for OXE Marine. The new company will gain access to end-users and a much stronger position in the US market. As OXE Marine's chances for success have improved, we are now growing more confident in the case and will review our financial forecasts and valuation.
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