TUI AG said its normalized net income for the fiscal first quarter ended Dec. 31, 2014, amounted to a loss of 34 euro cents per share, compared with a loss of 41 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 a loss of €110.3 million, compared with a loss of €98.2 million in the year-earlier period.
The normalized profit margin fell to negative 3.2% from negative 2.9% in the year-earlier period.
Total revenue increased 6.0% year over year to €3.54 billion from €3.34 billion, and total operating expenses climbed 6.3% from the prior-year period to €3.72 billion from €3.50 billion.
Reported net income totaled a loss of €104.6 million, or a loss of 32 cents per share, compared with a loss of €110.4 million, or a loss of 46 cents per share, in the prior-year period.
