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Hochdorf Holding H1 profit falls YOY

HOCHDORF Holding AG said its normalized net income for the first half amounted to CHF2.50 per share, a decrease of 47.4% from CHF4.76 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was CHF3.2 million, a decrease of 43.6% from CHF5.6 million in the prior-year period.

Total revenue rose 28.5% year over year to CHF281.4 million from CHF219.0 million, and total operating expenses increased 29.6% year over year to CHF270.7 million from CHF208.9 million.

Reported net income declined 35.6% on an annual basis to CHF4.0 million, or CHF3.20 per share, from CHF6.3 million, or CHF5.33 per share.