Royal Unibrew A/S said its normalized net income for the third quarter came to 3.94 Danish kroner per share, compared with the S&P Capital IQ consensus estimate of 4.79 kroner per share.

EPS decreased year over year from 4.03 kroner.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 214.3 million kroner, a decline from 219.9 million kroner in the prior-year period.

The normalized profit margin declined to 12.7% from 12.8% in the year-earlier period.

Total revenue decreased year over year to 1.69 billion kroner from 1.71 billion kroner, and total operating expenses fell on an annual basis to 1.34 billion kroner from 1.36 billion kroner.

Reported net income fell on an annual basis to 266.7 million kroner, or 4.90 kroner per share, from 273.1 million kroner, or 5.00 kroner per share.

As of Nov. 25, US$1 was equivalent to 7.04 Danish kroner.