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Electra Gruppen profit misses consensus by 24.9% in Q2

Electra Gruppen AB said its normalized net income for the second quarter amounted to 67 Swedish öre per share, compared with the S&P Capital IQ consensus estimate of 89 öre per share.

EPS declined 18.7% year over year from 82 öre.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 3.5 million kronor, a decline of 18.8% from 4.3 million kronor in the year-earlier period.

The normalized profit margin declined to 0.9% from 1.1% in the year-earlier period.

Total revenue rose 5.5% year over year to 403.0 million kronor from 382.0 million kronor, and total operating expenses climbed 6.1% from the prior-year period to 398.2 million kronor from 375.4 million kronor.

Reported net income decreased 17.0% year over year to 4.4 million kronor, or 84 öre per share, from 5.3 million kronor, or 1.01 kronor per share.

As of Aug. 20, US$1 was equivalent to 8.50 Swedish kronor.