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VA Automotive Q3 loss narrows YOY

VA Automotive i Hässleholm AB (publ) said its normalized net income for the third quarter was a loss of 7 Swedish öre per share, compared with a loss of 32 öre per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 1.5 million kronor, compared with a loss of 4.4 million kronor in the year-earlier period.

The normalized profit margin rose to negative 1.7% from negative 6.7% in the year-earlier period.

Total revenue rose 33.4% year over year to 87.8 million kronor from 65.8 million kronor, and total operating expenses climbed 25.5% year over year to 89.9 million kronor from 71.6 million kronor.

Reported net income totaled a loss of 1.6 million kronor, or a loss of 8 öre per share, compared to a loss of 7.3 million kronor, or a loss of 53 öre per share, in the year-earlier period.

As of Nov. 15, US$1 was equivalent to 9.19 Swedish kronor.