Indus Holding AG (INHG), a private equity firm, Wednesday reported earnings before taxes of 12.8 million euros for the first quarter, lower than 17.7 million euros in the same quarter a year ago, primarily due to decline in sales in the Engineering and Materials Solutions segments.
EBITDA, or earnings before interest, taxes, depreciation, and amortization decreased 12.4% to 42.5 million euros from 48.5 million euros last year.
Operating income was 19.6 million euros, 26.6% down from 26.7 million euros in the prior year.
Earnings after taxes, however, rose to 16.1 million euros or 0.63 euros per share from 10.3 million euros or 0.38 euros per share last year helped by a tax benefit of 3.3 million euros.
Sales for the quarter declined 1.9% to 402.4 million euros from 410.1 million euros in the previous year.
For the full year, the company has lowered its sales outlook to 1.70 billion euros- 1.85 billion euros from 1.75 billion euros - 1.85 billion euros.
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