trending Market Intelligence /marketintelligence/en/news-insights/trending/E6IYWUHaxRYjWTmJABAhJQ2 content esgSubNav
In This List

Steyr Motors swings to loss in Q2

Blog

Gold - Geopolitical tensions and inflation remain key drivers

Blog

Lithium and Cobalt - Softer demand weighs on prices

Podcast

Street Talk | Episode 94: Recessionary fears in ’22 overblown, Fed could overtighten

Podcast

Next in Tech | Episode 65: The operations side of AI/ML


Steyr Motors swings to loss in Q2

Steyr Motors Corp. said its normalized net income for the second quarter amounted to a loss of 2 fen per share, compared with 3 fen 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 16.7 million yuan, compared with income of 19.0 million yuan in the prior-year period.

The normalized profit margin fell to negative 17.9% from 8.5% in the year-earlier period.

Total revenue fell 58.3% year over year to 93.3 million yuan from 223.5 million yuan, and total operating expenses fell 34.7% from the prior-year period to 126.9 million yuan from 194.3 million yuan.

Reported net income came to a loss of 22.5 million yuan, or a loss of 3 fen per share, compared to income of 25.4 million yuan, or 4 fen per share, in the prior-year period.

As of Aug. 19, US$1 was equivalent to 6.40 yuan.