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Finnveden Holding Q1 profit climbs 36.5% YOY

Finnveden Holding AB said its first-quarter normalized net income amounted to 1.71 Swedish kronor per share, compared with the S&P Capital IQ consensus estimate of 1.57 kronor per share.

EPS rose 41.0% year over year from 1.21 kronor.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 34.8 million kronor, an increase of 36.5% from 25.5 million kronor in the prior-year period.

The normalized profit margin climbed to 4.9% from 3.6% in the year-earlier period.

Total revenue came to 715.3 million kronor, compared with 713.5 million kronor in the year-earlier period, and total operating expenses declined on an annual basis to 658.8 million kronor from 678.3 million kronor.

Reported net income rose 35.9% from the prior-year period to 41.3 million kronor, or 2.03 kronor per share, from 30.4 million kronor, or 1.44 kronor per share.

As of April 26, US$1 was equivalent to 8.11 Swedish kronor.