Ferronordic AB Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 17, 2023 at 01:30 am EDT
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Ferronordic AB (publ) reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported sales was SEK 674 million compared to SEK 402 million a year ago. Net income was SEK 64 million compared to SEK 32 million a year ago. Basic earnings per share from continuing operations was SEK 4.41 compared to basic loss per share from continuing operations of SEK 6.71 a year ago. Diluted earnings per share from continuing operations was SEK 4.27 compared to diluted loss per share from continuing operations of SEK 6.71 a year ago. Basic earnings per share was SEK 4.41 compared to SEK 2.2 a year ago. Diluted earnings per share was SEK 4.27 compared to SEK 2.2 a year ago.
For the six months, sales was SEK 1,305 million compared to SEK 856 million a year ago. Net income was SEK 71 million compared to SEK 95 million a year ago. Basic earnings per share from continuing operations was SEK 4.87 compared to basic loss per share from continuing operations of SEK 8.84 a year ago. Diluted earnings per share from continuing operations was SEK 4.71 compared to diluted loss per share from continuing operations of SEK 8.84 a year ago. Basic earnings per share was SEK 4.87 compared to SEK 6.5 a year ago. Diluted earnings per share was SEK 4.71 compared to SEK 6.5 a year ago.
Ferronordic AB is a Sweden-based company engaged in sales and distribution of construction equipment. It operates as an authorized dealer of Volvo Construction Equipment, Renault trucks and Volvo CE. Additionally, it distributes Volvo and Renault Trucks, Volvo Penta, among others. Through its business segment, Equipment Distribution, the Company offers sale and rental of new and used machines and other equipment, contracting services, as well as aftermarket support (sales of parts and service). The Company distributes excavators, backhoe loaders, dump trucks, pipelayers, forestry machines, bulldozers and gensets. The Company provides its services to other companies in the Quarries and aggregates, mining, road construction, transport and logistic and general construction industries