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Regulatory press release

OX2 AB (publ) reports its result for the second quarter of 2024 today

OX2
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April-June 2024
•   Net sales amounted to SEK 2,233 million (2,204)
•   Operating income amounted to SEK -206 million (207)
•   Operating margin amounted to -9.2% (9.4)
•   Net income for the period was SEK -163 million (245)
•   Earnings per share before and after dilution totaled SEK -0.58 (0.92*)
•   Cash flow from operating activities amounted to SEK 73 million (-1,229)
 
Janary-June 2024
•   Net sales amounted to SEK 3,177 million (3,666)
•   Operating income amounted to SEK -316 million (310)
•   Operating margin amounted to -9.9% (8.4)
•   Net income for the period was SEK -220 million (334)
•   Earnings per share before and after dilution totaled SEK -0.77 (1.28*)
•   Cash flow from operating activities amounted to SEK 198 million (-351)
 
CEO comments
“The sale of OX2’s first energy storage facility, Bredhälla, in southern Sweden, was finalized during the second quarter. In May, EQT announced a cash offer of SEK 60 per share with a stated long-term ambition to expand OX2 into an integrated developer and an energy asset owner. We retain our forecast for improved full-year operating income in 2024, despite increased uncertainty in the forecast. We anticipate that most of this year’s earnings will occur in the fourth quarter.”
 
 Webcast and telephone conference
 A presentation of the company’s interim report for the second quarter 2024 will be held today at 10.00 (CEST). If you wish to participate via webcast please use the link below. Via the webcast, there is an opportunity to ask written questions.

OX2 Q2 Report 2024 (financialhearings.com)

If you wish to participate via teleconference please register on the link below. After registration you will be provided phone numbers and a conference ID to access the conference. You can ask questions verbally via the teleconference. 

Call Access (financialhearings.com)
 
For further information, please contact:

Henrik Vikström, Investor Relations Director OX2
+46 709 528 006
henrik.vikstrom@ox2.com
 
 

About OX2 AB (publ)

OX2 develops, constructs, and sells renewable energy solutions at scale. OX2 also offer management of wind- and solar farms after completion. OX2’s project development portfolio consists of in-house developed as well as acquired projects in onshore and offshore wind, solar, and energy storage, in various phases of development. The company is also active in developing projects based on other renewable energy technologies, such as hydrogen. OX2 is operating on eleven markets in Europe: Sweden, Finland, Estonia, Lithuania, Poland, Romania, France, Spain, Italy, Greece, and Åland. Since 2023 OX2 is also operating in Australia. Sales in 2023 was about 7.8 billion SEK. The company has about 500 employees and is headquartered in Stockholm, Sweden. OX2 is listed on Nasdaq Stockholm since 2022. www.ox2.com

This information is information that OX2 is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact persons set out above, at 2024-07-25 08:00 CEST.

Attachments

OX2 Q2 2024 ENG

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