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Ebro Foods SA Q1 profit falls YOY

Ebro Foods SA said its normalized net income for the first quarter was €28.9 million, a decline of 23.3% from €37.7 million in the year-earlier period.

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

The normalized profit margin dropped to 4.8% from 7.5% in the year-earlier period.

Total revenue rose 19.4% year over year to €596.9 million from €500.1 million, and total operating expenses increased 21.6% on an annual basis to €544.4 million from €447.5 million.

Reported net income totaled €31.6 million, compared with €39.1 million in the prior-year period.