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Lingotes Especiales SA H2 profit climbs 39.7% YOY

Lingotes Especiales S.A. said its second-half normalized net income came to 22 euro cents per share, a gain of 23.5% from 18 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €2.2 million, a gain of 39.7% from €1.6 million in the prior-year period.

Total revenue increased 34.0% on an annual basis to €39.5 million from €29.5 million, and total operating expenses climbed 30.9% year over year to €36.2 million from €27.7 million.

Reported net income rose 59.3% from the prior-year period to €3.6 million, or 36 cents per share, from €2.3 million, or 25 cents per share.

For the year, the company's normalized net income totaled 48 cents per share, an increase of 60.9% from 30 cents per share in the prior year.

Normalized net income was €4.8 million, an increase of 62.6% from €3.0 million in the prior year.

Full-year total revenue grew 24.9% year over year to €77.8 million from €62.3 million, and total operating expenses grew 20.7% on an annual basis to €70.3 million from €58.2 million.

The company said reported net income rose 69.1% on an annual basis to €6.7 million, or 67 cents per share, in the full year, from €4.0 million, or 40 cents per share.