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Südwestdeutsche Salzwerke H2 profit climbs 42.2% YOY

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Südwestdeutsche Salzwerke H2 profit climbs 42.2% YOY

Südwestdeutsche Salzwerke AG said its normalized net income for the second half came to €1.18 per share, an increase of 41.9% from 83 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 €12.4 million, a gain of 42.2% from €8.7 million in the prior-year period.

Total revenue rose 9.8% on an annual basis to €129.0 million from €117.5 million, and total operating expenses grew 6.2% from the prior-year period to €109.2 million from €102.8 million.

Reported net income increased 45.8% on an annual basis to €13.3 million, or €1.26 per share, from €9.1 million, or 87 cents per share.

For the year, the company's normalized net income totaled €2.21 per share, a gain from €1.01 per share in the prior year.

Normalized net income was €23.3 million, a gain from €10.6 million in the prior year.

Full-year total revenue rose 12.0% year over year to €255.0 million from €227.7 million, and total operating expenses rose on an annual basis to €217.8 million from €208.6 million.

The company said reported net income increased on an annual basis to €25.6 million, or €2.43 per share, in the full year, from €11.2 million, or €1.07 per share.