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Travel24.com Q1 profit falls YOY

Travel24.com AG said its first-quarter normalized net income amounted to 12 euro cents per share, a decrease of 50.7% from 24 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 €257,380, a decrease of 47.6% from €490,900 in the year-earlier period.

The normalized profit margin dropped to 5.7% from 6.3% in the year-earlier period.

Total revenue fell 42.5% year over year to €4.5 million from €7.8 million, and total operating expenses fell 43.7% year over year to €3.7 million from €6.6 million.

Reported net income decreased 87.2% on an annual basis to €65,990, or 3 cents per share, from €517,550, or 25 cents per share.