trending Market Intelligence /marketintelligence/en/news-insights/trending/fnglz8sQ5zoqTrYf0Trbfw2 content esgSubNav
In This List

WeSC Q2 loss narrows YOY

Blog

Capital Markets Activity Infographic: SPAC Volume Rises in Q3; Equity Issuance Drops but Remains Strong in Several Sectors

Blog

Insight Weekly: Global stock performance; hydrogen pilot projects; Powell's Fed future unsure

Case Study

Honing Sustainable Investing Strategies with Robust Environmental Data

Blog

Asset Owner Perspectives on Climate Change Measurement, Management, and Reporting in Australia


WeSC Q2 loss narrows YOY

WeSC AB said its second-quarter normalized net income amounted to a loss of 12 Swedish öre per share, compared with a loss of 24 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 8.2 million kronor, compared with a loss of 10.0 million kronor in the year-earlier period.

The normalized profit margin increased to negative 35.4% from negative 60.2% in the year-earlier period.

Total revenue grew 39.2% year over year to 23.1 million kronor from 16.6 million kronor, and total operating expenses climbed 17.3% on an annual basis to 35.2 million kronor from 30.0 million kronor.

Reported net income totaled a loss of 13.1 million kronor, or a loss of 19 öre per share, compared to a loss of 16.0 million kronor, or a loss of 39 öre per share, in the year-earlier period.

As of Aug. 31, US$1 was equivalent to 8.57 Swedish kronor.