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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Cimco Marine Ab | LSE:0GHF | London | Ordinary Share | SE0009888613 | CIMCO MARINE ORD SHS |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 11.90 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Elec Apparatus & Equip-whsl | 148.42M | -109.9M | -0.4311 | -27.60 | 3.03B |
STOCKHOLM, March 26, 2021 /PRNewswire/ -- OXE Marine AB today published the annual report for the 2020 financial year on the company's website www.oxemarine.com.
MANAGEMENT REPORT
Information about the business
OXE Marine AB (publ) (NASDAQ STO: OXE) (OTCQX: CMMCF) was formed in 2012 and after several years of development has developed a diesel outboard for the marine market. The head office is located in Helsingborg with product development, part assembly, as well as testing of the product, carried out in Ängelholm. OXE Marine AB is listed on Nasdaq First North, ISIN SE0009888613. The global outboard market has long been dominated by gasoline engines, but with a diesel engine you get a stronger and, above all, a more fuel-efficient engine.Several attempts have been made to develop outboard engines for diesel fuel, but the difficulty lies in developing a sufficiently strong design for power transmission between the engine and the propeller. OXE Marine's outboard engine, OXE Diesel, is the first diesel outboard that is capable of replacing the well-established gasoline outboards in the higher power levels, in commercial and governmental operations. The engine is a modular platform that has been configured for a horizontally mounted engine, unlike traditional outboards that have vertical engine installations. OXE Marine's unique solution has led to great international demand for the company's engines. Among other things, in 2015 the North Atlantic Treaty Organisation ("NATO") introduced a directive, Single Fuel, which stipulates that all NATO equipment must be run on diesel if this is an available alternative in the market.
Significant events during the financial year
OXE Marine AB ("The Company") announced the following significant events during the year:
Future Prospects
OXE Marine's future growth is dependent on the company developing and producing sustainable products. Work on quality assurance of the product and the supply chain will continue during 2021. The Company continues to develop an organisation that works in a structured and efficient way with quality. Based on the recent development in the Order Book, Management's assessment is that demand will continue to be strong from the market.
NOTE: The English version is a translation of the Swedish version, for any inconsistencies in the translation refer to the Swedish version.
This disclosure contains information that OXE Marine AB is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person, on 26-03-2021 11:00 CET.
CONTACT:
Certified Adviser
FNCA Sweden AB is Certified Adviser for OXE Marine AB (publ). Contact details to FNCA Sweden AB: tel. +46 8 528 00 399, e-mail info@fnca.se.
For further information, please contact:
Myron Mahendra, CEO, myron.mahendra@oxemarine.com, +46 76 347 59 82
Anders Berg, Chairman, anders.berg@oxemarine.com, +46 70 358 91 55
OXE Marine AB (publ) (NASDAQ STO: OXE) (OTCQX: CMMCF) has, after several years of development, constructed the OXE Diesel, the world ́s first diesel outboard engine in the high-power segment. OXE Diesel has a unique belt driven propulsion system that allows a hydraulic multi-friction gearbox to be mounted. This means that the engine can handle significantly higher loads than a traditional outboard engine. OXE ́s OXE diesel has a horizontally mounted engine as opposed to a traditional outboard with a vertically mounted engine.
This information was brought to you by Cision http://news.cision.com
https://news.cision.com/oxe-marine-ab/r/oxe-marine-ab-publishes-annual-report-for-2020,c3313649
The following files are available for download:
https://mb.cision.com/Main/16067/3313649/1392906.pdf | ANNUAL REPORT 2020 |
https://news.cision.com/oxe-marine-ab/i/annual-report-2020,c2892877 | Annual Report 2020 |
View original content:http://www.prnewswire.com/news-releases/oxe-marine-ab-publishes-annual-report-for-2020-301256655.html
SOURCE OXE Marine AB
Copyright 2021 PR Newswire
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