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Valamar Riviera Q1 loss widens 14.8% YOY

Valamar Riviera d.d. said its first-quarter normalized net income came to 96.3 million kuna, compared with a loss of 83.9 million kuna in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

Total revenue climbed on an annual basis to 19.4 million kuna from 18.7 million kuna, and total operating expenses fell year over year to 144.8 million kuna from 148.6 million kuna.

Reported net income came to a loss of 149.3 million kuna, compared with a loss of 133.5 million kuna in the prior-year period.

As of April 30, US$1 was equivalent to 6.75 kuna.