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Renk AG Q4 profit falls YOY

Renk AG said its fourth-quarter normalized net income came to 93 euro cents per share, a decline of 61.3% from €2.40 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €6.5 million, a decline of 60.9% from €16.7 million in the year-earlier period.

The normalized profit margin declined to 4.9% from 12.5% in the year-earlier period.

Total revenue climbed on an annual basis to €134.7 million from €133.3 million, and total operating expenses grew 16.2% year over year to €123.3 million from €106.1 million.

Reported net income decreased 54.1% on an annual basis to €6.8 million, or 96 cents per share, from €14.8 million, or €2.12 per share.

For the year, the company's normalized net income totaled €5.10 per share, a decline of 27.7% from €7.05 per share in the prior year.

Normalized net income was €34.7 million, a decline of 27.7% from €48.0 million in the prior year.

Full-year total revenue increased from the prior-year period to €486.7 million from €480.3 million, and total operating expenses rose 6.3% year over year to €428.3 million from €403.1 million.

The company said reported net income fell 14.3% year over year to €41.8 million, or €6.14 per share, in the full year, from €48.8 million, or €7.17 per share.