AAK said its normalized net income for the second quarter amounted to 4.51 Swedish kronor per share, compared with the S&P Capital IQ consensus estimate of 5.20 kronor per share.

EPS climbed 28.3% year over year from 3.52 kronor.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 191.1 million kronor, a gain of 28.6% from 148.6 million kronor in the prior-year period.

The normalized profit margin climbed to 3.9% from 3.6% in the year-earlier period.

Total revenue climbed 20.4% year over year to 4.95 billion kronor from 4.11 billion kronor, and total operating expenses climbed 20.1% year over year to 4.62 billion kronor from 3.84 billion kronor.

Reported net income increased 32.0% from the prior-year period to 227.0 million kronor, or 5.36 kronor per share, from 172.0 million kronor, or 4.07 kronor per share.

As of July 17, US$1 was equivalent to 8.63 Swedish kronor.