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Elumeo swings to loss in Q2

Elumeo SE said its second-quarter normalized net income came to a loss of 22 euro cents per share, compared with 15 cents per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of €1.2 million, compared with income of €599,380 in the year-earlier period.

The normalized profit margin fell to negative 6.0% from 3.0% in the year-earlier period.

Total revenue rose on an annual basis to €20.3 million from €20.0 million, and total operating expenses increased 16.9% on an annual basis to €22.1 million from €18.9 million.

Reported net income came to a loss of €3.4 million, or a loss of 61 cents per share, compared to income of €1.2 million, or 30 cents per share, in the prior-year period.