Groupe Bruxelles Lambert SA said its first-quarter normalized net income came to 44 euro cents per share, a decrease of 30.9% from 64 cents per share in the prior-year period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €70.6 million, a decrease of 28.6% from €98.8 million in the prior-year period.
The normalized profit margin declined to 5.6% from 8.0% in the year-earlier period.
Total revenue increased year over year to €1.27 billion from €1.23 billion, and total operating expenses increased 5.9% from the prior-year period to €1.05 billion from €990.7 million.
Reported net income totaled €232.9 million, or €1.45 per share, compared with a loss of €923.0 million, or a loss of €5.94 per share, in the year-earlier period.