Finnveden Holding AB said its normalized net income for the first quarter amounted to 1.21 Swedish kronor per share, compared with the S&P Capital IQ consensus estimate of 1.32 kronor per share.
EPS climbed 30.3% year over year from 93 öre.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 25.5 million kronor, a gain of 30.3% from 19.6 million kronor in the year-earlier period.
The normalized profit margin rose to 3.6% from 3.4% in the year-earlier period.
Total revenue grew 22.7% year over year to 713.5 million kronor from 581.5 million kronor, and total operating expenses increased 23.6% year over year to 678.3 million kronor from 548.6 million kronor.
Reported net income rose 32.8% year over year to 30.4 million kronor, or 1.44 kronor per share, from 22.9 million kronor, or 1.09 kronor per share.
As of April 29, US$1 was equivalent to 8.32 Swedish kronor.
