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Zenergy Q1 loss widens YOY

Zenergy AB said its first-quarter normalized net income came to a loss of 13 Swedish öre per share, compared with a loss of 7 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 1.2 million kronor, compared with a loss of 372,500 kronor in the prior-year period.

The normalized profit margin fell to negative 6.5% from negative 2.1% in the year-earlier period.

Total revenue climbed 7.4% on an annual basis to 19.0 million kronor from 17.7 million kronor, and total operating expenses grew 14.5% from the prior-year period to 20.9 million kronor from 18.2 million kronor.

Reported net income totaled a loss of 2.0 million kronor, or a loss of 21 öre per share, compared to a loss of 596,000 kronor, or a loss of 11 öre per share, in the year-earlier period.

As of May 16, US$1 was equivalent to 8.24 Swedish kronor.