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Hawesko Holding Q1 profit falls YOY

Hawesko Holding AG said its normalized net income for the first quarter came to 22 euro cents per share, a decline of 15.3% from 25 cents per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €1.9 million, a decline of 15.3% from €2.3 million in the prior-year period.

The normalized profit margin declined to 1.8% from 2.1% in the year-earlier period.

Total revenue decreased on an annual basis to €105.8 million from €108.0 million, and total operating expenses decreased year over year to €102.5 million from €104.1 million.

Reported net income came to a loss of €2.0 million, or a loss of 22 cents per share, compared to income of €2.5 million, or 28 cents per share, in the prior-year period.