Petrol d.d. said its first-quarter normalized net income amounted to €4.89 per share, an increase of 19.8% from €4.08 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €10.1 million, a gain of 19.8% from €8.4 million in the year-earlier period.

The normalized profit margin rose to 1.6% from 1.2% in the year-earlier period.

Total revenue declined 9.6% on an annual basis to €649.4 million from €718.7 million, and total operating expenses fell 10.2% from the prior-year period to €630.3 million from €702.2 million.

Reported net income grew year over year to €13.4 million, or €6.49 per share, from €13.1 million, or €6.36 per share.