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Aeon Motor Q2 profit falls YOY

Aeon Motor Co. Ltd. said its normalized net income for the second quarter was 18 Taiwan cents per share, a decline of 77.0% from 78 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 NT$11.2 million, a decrease of 77.0% from NT$48.7 million in the prior-year period.

The normalized profit margin declined to 2.5% from 6.9% in the year-earlier period.

Total revenue declined 36.7% year over year to NT$447.8 million from NT$707.1 million, and total operating expenses declined 31.3% from the prior-year period to NT$435.1 million from NT$633.6 million.

Reported net income fell 67.9% from the prior-year period to NT$21.2 million, or 34 cents per share, from NT$65.8 million, or NT$1.06 per share.

As of Aug. 12, US$1 was equivalent to NT$31.39.