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Redeye is happy to see that OXE Marine is awarded a new major contract for OXE300 outboards from the Philippines Coast Guard. Total potential order value is around EUR2.9m with deliveries starting in Q3’23 and running into H1’24. OXE Marine has previously delivered over 60 outboards to the Philippines Bureau of Customs. We see this new order as a solid validation of the OXE brand and their strong customer relationship with Government authorities in the Philippines. It will probably make a significant contribution to OXE marine’s sales. But we are not making any changes to our financial forecasts at this point, as we have already projected substantial near- and mid-term growth.
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