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ExeoTech Invest Q1 loss narrows YOY

ExeoTech Invest AB (publ) said its normalized net income for the first quarter came to a loss of 1.8 million kronor, compared with a loss of 3.3 million kronor in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin was 201.4%.

Total revenue increased on an annual basis to 900,000 kronor from 300,000 kronor, and total operating expenses rose year over year to 3.6 million kronor from 1.2 million kronor.

Reported net income came to a loss of 2.9 million kronor, or a loss of 1 öre per share, compared to a loss of 5.2 million kronor, or a loss of 25 öre per share, in the prior-year period.

As of May 31, US$1 was equivalent to 8.35 Swedish kronor.