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Baumot Group H1 loss widens 22.3% YOY

Baumot Group AG said its normalized net income for the first half was a loss of 11 euro cents per share, compared with a loss of 11 cents 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 €2.9 million, compared with a loss of €2.4 million in the prior-year period.

Total revenue climbed year over year to €20.0 million from €9.3 million, and total operating expenses climbed 86.1% year over year to €24.1 million from €13.0 million.

Reported net income totaled a loss of €4.5 million, or a loss of 16 cents per share, compared to a loss of €4.8 million, or a loss of 22 cents per share, in the year-earlier period.