The company posted a net profit of €1.3 billion ($1.8 billion) for the three months to 31 March, down 15.6% on the more than €1.5 billion profit booked during the same period last year.
Net sales from operations were down 6.3% year-on-year, from €31.2 billion in the first quarter of 2013 to €29.2 billion this year.
The fall in revenue came as output slipped 1.1%
