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Aena SME Q1 loss narrows YOY

Aena SME SA said its first-quarter normalized net income came to €18.6 million, compared with a loss of €48.9 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 climbed to negative 2.8% from negative 8.5% in the year-earlier period.

Total revenue grew 14.4% year over year to €659.9 million from €576.8 million, and total operating expenses grew 7.7% on an annual basis to €646.2 million from €600.2 million.

Reported net income totaled €12.2 million, compared with a loss of €56.4 million in the prior-year period.