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Besqab AB profit beats consensus by 16.1% in Q2

Besqab AB said its second-quarter normalized net income came to 2.53 Swedish kronor per share, compared with the S&P Capital IQ consensus estimate of 2.18 kronor per share.

EPS increased year over year from 97 öre.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 39.3 million kronor, an increase from 11.3 million kronor in the year-earlier period.

The normalized profit margin increased to 9.1% from 5.0% in the year-earlier period.

Total revenue increased 89.9% on an annual basis to 429.9 million kronor from 226.3 million kronor, and total operating expenses increased 76.9% on an annual basis to 366.1 million kronor from 207.0 million kronor.

Reported net income rose from the prior-year period to 57.1 million kronor, or 3.68 kronor per share, from 15.2 million kronor, or 1.30 kronor per share.

As of July 21, US$1 was equivalent to 8.55 Swedish kronor.