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Cimco Marine

oxe-diesel.com

Stage

IPO | IPO

Date of IPO

7/4/2017

About Cimco Marine

Cimco Marine (NASDAQ Stockholm: CIMCO) specializes in marine engine manufacturing. The company's product, the OXE, is a high-performance diesel outboard engine built to be the solution for governmental services, search and rescue operations, and commercial applications.

Headquarters Location

Metallgatan 19a

Angelholm, SE-262 72,

Sweden

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Cimco Marine Patents

Cimco Marine has filed 6 patents.

patents chart

Application Date

Grant Date

Title

Related Topics

Status

3/21/2017

8/9/2022

Industrial machine manufacturers, Mechanical power transmission, Automotive transmission technologies, Engine technology, Rotational symmetry

Grant

Application Date

3/21/2017

Grant Date

8/9/2022

Title

Related Topics

Industrial machine manufacturers, Mechanical power transmission, Automotive transmission technologies, Engine technology, Rotational symmetry

Status

Grant

Latest Cimco Marine News

Cimco Marine: Interim Report 1 July to 30 September 2019 - and New Financial Objectives

Nov 15, 2019

0 Message : Net Turnover of SEK 23.3 million (SEK 3.8 million) Operating Loss/EBIT of SEK -18.7 million (SEK -17 million) Result for the period of SEK -20.8 million (SEK -22.9 million) Cashflow for the period SEK 23.1 million (SEK 7.1 million) Earnings per share amounted to SEK -0.16 (SEK -0.87) Diluted earnings per share amounted to SEK -0.11 (SEK -0.87) OXE units sold: 70 (4) The company will not push to deliver 600+ units for 2019 New long-term financial objectives for the years 2020-2024             Average Organic Sales growth >50% per year; and Operational cashflow positive no later than 2021. First nine months of 2019 (January - September 2019) Net Turnover of SEK 51 million (SEK 31.5 million) Operating Loss/EBIT of SEK -65.3 million (SEK -59.8 million) Result for the period of SEK -76.4 million (SEK -77.7 million) Cashflow for the period SEK 33.4 million (SEK 34.3 million) Earnings per share amounted to SEK -0.91 (SEK -3.06) Diluted earnings per share amounted to SEK -0.54 (SEK -3.06) OXE units sold: 167 (130) Significant events in the Third quarter Enters into a €14 million credit facility agreement with European Investment Bank ("EIB"). Appoints Paul Frick as new CFO effective 9thSeptember 2019. Obtains Bondholder approval for a waiver in respect to certain terms of up to SEK 200 million. Obtains shareholder approval following EGM in respect to issuance of share warrants to EIB for tranche A and B loan drawdown. Issue 13,365,367 warrants to EIB relating to tranche A. Receives first tranche of €4 million from EIB. Incentive program 2019/2022 outcome - first 5 million share warrants offered and subscribed fully by certain senior managers. Enters into letter of intent with African governmental supplier to supply OXE150s/200s with a total expected revenue of €5 million including accessories, service kits and spare parts. Marketing launch of the OXE300 and opening of order books. Significant events after the reporting period Agreed in principle with EIB that second tranche drawdown condition will include a directed issue. Received subscription and guarantee commitments for exercise of warrants series 2019:1. Received approximately SEK 33.6 million through the exercise of warrants and planed for a directed share issue of approximately SEK 17.2 million. The board of directors resolved on a directed share issue of SEK 17.2 million.

Cimco Marine Frequently Asked Questions (FAQ)

  • Where is Cimco Marine's headquarters?

    Cimco Marine's headquarters is located at Metallgatan 19a, Angelholm.

  • What is Cimco Marine's latest funding round?

    Cimco Marine's latest funding round is IPO.

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