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Parken Sport & Entertainment Q1 loss widens YOY

Parken Sport & Entertainment A/S said its first-quarter normalized net income was a loss of 2.81 Danish kroner per share, compared with a loss of 82 øre per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 27.7 million kroner, compared with a loss of 8.1 million kroner in the prior-year period.

The normalized profit margin dropped to negative 12.0% from negative 3.4% in the year-earlier period.

Total revenue declined year over year to 231.1 million kroner from 239.2 million kroner, and total operating expenses climbed 10.1% from the prior-year period to 264.4 million kroner from 240.1 million kroner.

Reported net income came to a loss of 34.0 million kroner, or a loss of 3.44 kroner per share, compared to a loss of 9.8 million kroner, or a loss of 99 øre per share, in the prior-year period.

As of May 7, US$1 was equivalent to 6.63 Danish kroner.