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Innogy Q1 profit falls YOY

innogy SE said its first-quarter normalized net income was €552.6 million, a decrease of 32.2% from €815.6 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 declined to 4.7% from 6.5% in the year-earlier period.

Total revenue decreased 6.7% year over year to €11.64 billion from €12.48 billion, and total operating expenses decreased from the prior-year period to €10.50 billion from €10.94 billion.

Reported net income fell 21.6% year over year to €632.0 million, or €1.14 per share, from €806.0 million.