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Renk AG Q2 profit climbs 23.6% YOY


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Renk AG Q2 profit climbs 23.6% YOY

Renk AG said its second-quarter normalized net income came to €1.78 per share, a gain of 22.4% from €1.45 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €12.7 million, a gain of 23.6% from €10.3 million in the year-earlier period.

The normalized profit margin rose to 13.7% from 9.5% in the year-earlier period.

Total revenue increased 23.4% year over year to €133.7 million from €108.3 million, and total operating expenses increased 23.0% from the prior-year period to €114.5 million from €93.1 million.

Reported net income rose from the prior-year period to €21.6 million, or €3.00 per share, from €8.0 million, or €1.13 per share.