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MyHammer Holding swings to profit in Q1

MyHammer Holding AG said its first-quarter normalized net income amounted to €66,170, compared with a loss of €4,650 in the prior-year period.

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

The normalized profit margin increased to 2.9% from negative 0.3% in the year-earlier period.

Total revenue grew 25.1% on an annual basis to €2.3 million from €1.8 million, and total operating expenses increased 12.0% from the prior-year period to €2.0 million from €1.8 million.

Reported net income came to €122,280, or 2 cents per share, compared to a loss of €31,100, or a loss of 1 cents per share, in the prior-year period.