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Amsterdam Commodities H2 profit falls YOY

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Amsterdam Commodities H2 profit falls YOY

Amsterdam Commodities NV said its normalized net income for the second half amounted to 51 euro cents per share, a decrease from 53 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €12.4 million, a decrease from €12.7 million in the prior-year period.

Total revenue rose 12.0% on an annual basis to €349.9 million from €312.5 million, and total operating expenses climbed 13.0% on an annual basis to €328.6 million from €290.8 million.

Reported net income decreased year over year to €15.1 million, or 62 cents per share, from €15.9 million, or 66 cents per share.

For the year, the company's normalized net income totaled €1.13 per share, compared with the S&P Capital IQ consensus normalized EPS estimate of €1.40.

EPS declined from €1.16 in the prior year.

Normalized net income was €27.2 million, a decline from €27.9 million in the prior year.

Full-year total revenue grew 10.1% from the prior-year period to €681.6 million from €618.9 million, and total operating expenses grew 11.1% on an annual basis to €635.0 million from €571.5 million.

The company said reported net income decreased on an annual basis to €32.3 million, or €1.34 per share, in the full year, from €33.2 million, or €1.38 per share.