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Electra Gruppen profit misses consensus by 25.4% in Q1

Electra Gruppen AB said its normalized net income for the first quarter came to 87 Swedish öre per share, compared with the S&P Capital IQ consensus estimate of 1.17 kronor per share.

EPS declined 9.1% year over year from 96 öre.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 4.6 million kronor, a decline of 8.8% from 5.0 million kronor in the prior-year period.

The normalized profit margin declined to 1.2% from 1.4% in the year-earlier period.

Total revenue grew on an annual basis to 371.3 million kronor from 356.7 million kronor, and total operating expenses increased year over year to 364.8 million kronor from 349.3 million kronor.

Reported net income decreased 9.5% on an annual basis to 5.7 million kronor, or 1.09 kronor per share, from 6.3 million kronor, or 1.21 kronor per share.

As of April 28, US$1 was equivalent to 8.53 Swedish kronor.