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LeoVegas Q2 loss widens YOY

LeoVegas AB (publ) said its normalized net income for the second quarter amounted to a loss of €1.7 million, compared with a loss of €381,880 in the prior-year period.

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

The normalized profit margin fell to negative 5.6% from negative 2.1% in the year-earlier period.

Total revenue climbed 67.4% year over year to €31.0 million from €18.5 million, and total operating expenses climbed 76.6% on an annual basis to €33.8 million from €19.1 million.

Reported net income came to a loss of €3.1 million, or a loss of 3 cents per share, compared to a loss of €926,800, or a loss of 1 cents per share, in the prior-year period.