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Grammer Q4 profit falls 10.4% YOY

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Grammer Q4 profit falls 10.4% YOY

Grammer AG said its normalized net income for the fourth quarter amounted to 59 euro cents per share, compared with the S&P Capital IQ consensus estimate of 65 cents per share.

EPS decreased 10.4% year over year from 66 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €6.7 million, a decrease of 10.4% from €7.4 million in the prior-year period.

The normalized profit margin fell to 1.0% from 2.0% in the year-earlier period.

Total revenue totaled €369.7 million, compared with €372.1 million in the prior-year period, and total operating expenses came to €359.2 million, compared with €361.7 million in the prior-year period.

Reported net income fell 13.0% on an annual basis to €7.0 million, or 63 cents per share, from €8.1 million, or 72 cents per share.

For the year, the company's normalized net income totaled €2.00 per share, compared with the S&P Capital IQ consensus normalized EPS estimate of €2.09.

EPS declined 28.2% from €2.79 in the prior year.

Normalized net income was €22.5 million, a decline of 28.2% from €31.3 million in the prior year.

Full-year total revenue grew on an annual basis to €1.43 billion from €1.37 billion, and total operating expenses increased 5.6% on an annual basis to €1.39 billion from €1.31 billion.

The company said reported net income declined 31.9% year over year to €23.6 million, or €2.10 per share, in the full year, from €34.7 million, or €3.09 per share.