Nama d.d. said its fourth-quarter normalized net income amounted to a loss of 24 euro cents per share, compared with 10 cents per share in the year-earlier period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of €229,960, compared with income of €96,180 in the prior-year period.
The normalized profit margin fell to negative 5.9% from 2.6% in the year-earlier period.
Total revenue grew 5.0% year over year to €3.8 million from €3.6 million, and total operating expenses climbed 14.5% on an annual basis to €4.2 million from €3.7 million.
Reported net income grew on an annual basis to €306,820, or 32 cents per share, from €76,480, or 8 cents per share.
For the year, the company's normalized net income totaled 6 cents per share, a fall of 73.3% from 22 cents per share in the prior year.
Normalized net income was €57,000, a decline of 73.8% from €217,290 in the prior year.
Full-year total revenue totaled €12.4 million, compared with €12.3 million in the prior year, and total operating expenses totaled €12.3 million, compared with €12.2 million in the prior-year period.
The company said reported net income declined 51.6% on an annual basis to €89,330, or 9 cents per share, in the full year, from €184,590, or 19 cents per share.