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Zenergy Q2 loss widens YOY

Zenergy AB said its normalized net income for the second quarter amounted to a loss of 32 Swedish öre per share, compared with a loss of 15 öre per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 3.1 million kronor, compared with a loss of 778,750 kronor in the prior-year period.

The normalized profit margin declined to negative 32.8% from negative 5.8% in the year-earlier period.

Total revenue fell 30.4% on an annual basis to 9.3 million kronor from 13.4 million kronor, and total operating expenses fell year over year to 14.1 million kronor from 14.6 million kronor.

Reported net income came to a loss of 4.9 million kronor, or a loss of 51 öre per share, compared to a loss of 1.2 million kronor, or a loss of 24 öre per share, in the year-earlier period.

As of Aug. 26, US$1 was equivalent to 8.41 Swedish kronor.