OXE Marine’s Q2 sales were significantly weaker than we expected. The US government market remains slow and the company’s business pipeline in Europe and other regions has obviously not converted into substantial sales yet. OXE Marine continues to see an increase in enquiries as well as evaluation of reference new installations. A couple of new OEM deals have been announced recently, which bode well for future business. But overall, the near-term outlook appears rather uncertain, causing us to lower our expectations for H2’26.
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