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AAK AB Q1 profit climbs 12.8% YOY

AAK said its normalized net income for the first quarter came to 4.31 Swedish kronor per share, compared with the S&P Capital IQ consensus estimate of 4.86 kronor per share.

EPS climbed 11.8% year over year from 3.86 kronor.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 181.8 million kronor, a gain of 12.8% from 161.1 million kronor in the year-earlier period.

The normalized profit margin fell to 3.8% from 3.9% in the year-earlier period.

Total revenue rose 17.1% year over year to 4.84 billion kronor from 4.13 billion kronor, and total operating expenses rose 17.5% on an annual basis to 4.51 billion kronor from 3.84 billion kronor.

Reported net income grew 14.4% from the prior-year period to 214.0 million kronor, or 5.08 kronor per share, from 187.0 million kronor, or 4.48 kronor per share.

As of April 22, US$1 was equivalent to 8.73 Swedish kronor.