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LeoVegas Q1 profit climbs YOY

LeoVegas AB (publ) said its normalized net income for the first quarter was €2.3 million, an increase from €9,380 in the prior-year period.

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

The normalized profit margin rose to 7.9% from 0.1% in the year-earlier period.

Total revenue climbed 85.9% on an annual basis to €29.5 million from €15.9 million, and total operating expenses climbed 62.6% year over year to €25.8 million from €15.9 million.

Reported net income totaled a loss of €2.0 million, or a loss of 2 cents per share, compared to a loss of €53,000, or a loss of 0 cents per share, in the prior-year period.