Royal Unibrew A/S said its normalized net income for the first quarter amounted to 1.45 Danish kroner per share, compared with the S&P Capital IQ consensus estimate of 2.24 kroner per share.

EPS increased 6.0% year over year from 1.37 kroner.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 79.4 million kroner, a gain of 7.1% from 74.1 million kroner in the year-earlier period.

The normalized profit margin rose to 5.9% from 5.7% in the year-earlier period.

Total revenue increased year over year to 1.35 billion kroner from 1.29 billion kroner, and total operating expenses grew from the prior-year period to 1.21 billion kroner from 1.16 billion kroner.

Reported net income increased 7.0% from the prior-year period to 98.6 million kroner, or 1.80 kroner per share, from 92.2 million kroner, or 1.70 kroner per share.

As of April 27, US$1 was equivalent to 6.58 Danish kroner.