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Banking Essentials Newsletter: 17th April Edition

Miris Holding Q1 loss narrows YOY

Miris Holding AB (publ) said its normalized net income for the first quarter amounted to a loss of 1.9 million kronor, compared with a loss of 2.7 million kronor in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin rose to negative 71.9% from negative 175.5% in the year-earlier period.

Total revenue rose 75.4% year over year to 2.6 million kronor from 1.5 million kronor, and total operating expenses fell year over year to 5.6 million kronor from 5.7 million kronor.

Reported net income came to a loss of 3.1 million kronor, or a loss of 1 öre per share, compared to a loss of 4.2 million kronor, or a loss of 1 öre per share, in the year-earlier period.

As of April 22, US$1 was equivalent to 8.13 Swedish kronor.