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Bosch Fren Sistemleri Q2 profit falls YOY

Bosch Fren Sistemleri Sanayi ve Ticaret AS said its second-quarter normalized net income came to 88 kurus per share, a decrease of 11.5% from 99 kurus per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 2.2 million lira, a decrease of 11.4% from 2.5 million lira in the year-earlier period.

The normalized profit margin declined to 8.5% from 11.4% in the year-earlier period.

Total revenue climbed 18.8% year over year to 26.0 million lira from 21.9 million lira, and total operating expenses increased 25.1% from the prior-year period to 22.6 million lira from 18.1 million lira.

Reported net income fell 8.0% on an annual basis to 2.9 million lira, or 1.18 lira per share, from 3.2 million lira, or 1.28 lira per share.

As of Aug. 2, US$1 was equivalent to 2.99 Turkish lira.