Centric Holdings SA said its normalized net income for the first quarter came to €215,530, a fall of 75.8% from €888,810 in the prior-year period.

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

The normalized profit margin fell to 0.1% from 0.4% in the year-earlier period.

Total revenue declined 5.5% year over year to €237.0 million from €250.7 million, and total operating expenses declined 5.1% on an annual basis to €236.3 million from €248.9 million.

Reported net income declined 43.0% on an annual basis to €669,350, or 1 cents per share, from €1.2 million, or 1 cents per share.