Kraft Bank Second Quarter 2024 Earnings: Revenues Miss Expectations

Kraft Bank (OB:KRAB) Second Quarter 2024 Results

Key Financial Results

• Revenue: kr27.2m (down 32% from 2Q 2023).
• Net income: kr2.59m (down 85% from 2Q 2023).
• Profit margin: 9.5% (down from 43% in 2Q 2023). The decrease in margin was primarily driven by lower revenue.

All figures shown in the chart above are for the trailing 12 month (TTM) period

Kraft Bank Revenues Disappoint

Revenue missed analyst estimates by 14%.

Looking ahead, revenue is forecast to grow 30% p.a. on average during the next 3 years, while revenues in the Banks industry in Norway are expected to remain flat.

Performance of the Norwegian Banks industry.

The company's shares are down 3.3% from a week ago.

Risk Analysis

It's still necessary to consider the ever-present spectre of investment risk. We've identified 3 warning signs with Kraft Bank, and understanding them should be part of your investment process.

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