Merlin Group S.A. said its normalized net income for the first quarter was a loss of 14,520 zlotys, compared with a loss of 8,990 zlotys in the prior-year period.

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

Reported net income came to a loss of 23,230 zlotys, or a loss of 2 groszy per share, compared to a loss of 14,390 zlotys in the year-earlier period.

As of May 12, US$1 was equivalent to 3.87 zlotys.