Arco Vara AS Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2022
July 28, 2022 at 02:00 am EDT
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Arco Vara AS reported earnings results for the second quarter and six months ended June 30, 2022. For the second quarter, the company reported revenue was EUR 7.63 million compared to EUR 1.5 million a year ago. Net income was EUR 0.934 million compared to EUR 0.523 million a year ago. Basic earnings per share from continuing operations was EUR 0.09 compared to EUR 0.06 a year ago. Diluted earnings per share from continuing operations was EUR 0.09 compared to EUR 0.06 a year ago.
For the six months, revenue was EUR 7.94 million compared to EUR 10.67 million a year ago. Net income was EUR 0.95 million compared to EUR 2.22 million a year ago. Basic earnings per share from continuing operations was EUR 0.09 compared to EUR 0.24 a year ago. Diluted earnings per share from continuing operations was EUR 0.09 compared to EUR 0.24 a year ago.
Arco Vara AS is an Estonia-based company active within the property industry. The Company focuses on the building construction, civil engineering, special engineering and real estate services. Its business consists of three segments: Development segment, which is engaged in the development of residential and commercial environments, as well as long-term investment in real estate; Service segment, which is involved in the real estate brokerage, valuation and management, and short-term investment in real estate, and Construction segment, which provides general and sub-contracting in the field of general construction, civil and environmental engineering, and construction supervision services. Arco Vara AS has numerous subsidiaries, including Arco Lozen EOOD, Acro Invest EOOD, and Acro Real Estate SIA. The Company operates in Estonia, Latvia and Bulgaria.