AGRANA Beteiligungs-Aktiengesellschaft said its normalized net income for the fiscal second quarter ended Aug. 31 came to €1.20 per share, a decrease of 20.6% from €1.51 per share in the year-earlier period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €17.0 million, a decline of 20.8% from €21.5 million in the prior-year period.
The normalized profit margin dropped to 2.6% from 2.8% in the year-earlier period.
Total revenue fell 16.4% on an annual basis to €645.1 million from €772.1 million, and total operating expenses fell 15.8% year over year to €617.5 million from €733.2 million.
Reported net income declined 27.0% year over year to €20.2 million, or €1.42 per share, from €27.6 million, or €1.94 per share.
