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ElringKlinger profit holds relatively steady YOY in Q1

ElringKlinger AG said its first-quarter normalized net income amounted to 37 euro cents per share, compared with 37 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 €23.3 million, compared with €23.3 million in the year-earlier period.

The normalized profit margin declined to 6.3% from 7.2% in the year-earlier period.

Total revenue grew 14.6% year over year to €371.4 million from €324.0 million, and total operating expenses climbed 19.2% from the prior-year period to €336.0 million from €281.9 million.

Reported net income totaled €28.2 million, or 45 cents per share, compared to €27.9 million, or 44 cents per share, in the year-earlier period.