Ferrovial SA said its first-quarter normalized net income amounted to €62.1 million, a rise of 130.1% from €27.0 million in the prior-year period.

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

The normalized profit margin climbed to 2.2% from 1.3% in the year-earlier period.

Total revenue climbed 38.5% year over year to €2.88 billion from €2.08 billion, and total operating expenses rose 41.4% on an annual basis to €2.75 billion from €1.95 billion.

Reported net income decreased 54.1% year over year to €72.0 million, or 10 cents per share, from €157.0 million.