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Renk AG Q1 profit falls YOY

Renk AG said its first-quarter normalized net income came to €1.07 per share, a decrease of 20.6% from €1.35 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €6.9 million, a decline of 21.4% from €8.8 million in the prior-year period.

The normalized profit margin fell to 6.5% from 8.1% in the year-earlier period.

Total revenue fell on an annual basis to €106.0 million from €108.0 million, and total operating expenses declined on an annual basis to €93.0 million from €94.0 million.

Reported net income declined 30.0% year over year to €7.0 million, or €1.09 per share, from €10.0 million, or €1.54 per share.