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Zenergy Q3 loss widens 81.5% YOY

Zenergy AB said its third-quarter normalized net income amounted to a loss of 22 Swedish öre per share, compared with a loss of 32 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 3.0 million kronor, compared with a loss of 1.7 million kronor in the year-earlier period.

The normalized profit margin declined to negative 94.3% from negative 14.0% in the year-earlier period.

Total revenue decreased 73.0% on an annual basis to 3.2 million kronor from 11.8 million kronor, and total operating expenses declined 44.9% on an annual basis to 7.9 million kronor from 14.3 million kronor.

Reported net income came to a loss of 4.8 million kronor, or a loss of 35 öre per share, compared to a loss of 2.7 million kronor, or a loss of 51 öre per share, in the prior-year period.

As of Nov. 25, US$1 was equivalent to 9.23 Swedish kronor.