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Baltika Q1 loss widens 24.8% YOY

AS Baltika said its normalized net income for the first quarter amounted to a loss of 2 euro cents per share, compared with a loss of 1 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 a loss of €707,500, compared with a loss of €566,880 in the year-earlier period.

The normalized profit margin increased to negative 4.4% from negative 4.7% in the year-earlier period.

Total revenue grew year over year to €12.3 million from €12.2 million, and total operating expenses grew from the prior-year period to €13.3 million from €12.9 million.

Reported net income came to a loss of €1.1 million, or a loss of 3 cents per share, compared to a loss of €910,000, or a loss of 2 cents per share, in the year-earlier period.