Abertis Infraestructuras SA said its first-quarter normalized net income was €108.9 million, a decrease of 59.8% from €271.0 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 fell to 8.5% from 25.0% in the year-earlier period.

Total revenue rose 18.4% on an annual basis to €1.28 billion from €1.08 billion, and total operating expenses climbed 26.4% year over year to €843.0 million from €667.0 million.

Reported net income came to €129.0 million, compared with €385.0 million in the year-earlier period.