Viscofan SA said its normalized net income for the first quarter amounted to €24.8 million, a rise of 37.7% from €18.0 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 increased to 13.7% from 11.0% in the year-earlier period.
Total revenue grew 11.0% on an annual basis to €181.1 million from €163.1 million, and total operating expenses increased 5.0% year over year to €140.4 million from €133.8 million.
Reported net income totaled €30.0 million, compared with €21.9 million in the prior-year period.
