AGRANA Beteiligungs-Aktiengesellschaft said its normalized net income for the fiscal first quarter ended May 31 was €1.24 per share, compared with the S&P Capital IQ consensus estimate of €1.13 per share.

EPS decreased 40.9% year over year from €2.11.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €17.7 million, a decrease of 40.9% from €29.9 million in the year-earlier period.

The normalized profit margin dropped to 2.9% from 4.6% in the year-earlier period.

Total revenue declined 5.4% on an annual basis to €613.4 million from €648.2 million, and total operating expenses fell from the prior-year period to €587.6 million from €601.6 million.

Reported net income decreased 45.4% from the prior-year period to €20.6 million, or €1.45 per share, from €37.7 million, or €2.66 per share.