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TERNA Q2 profit climbs 7.6% YOY

TERNA - Rete Elettrica Nazionale SpA said its normalized net income for the second quarter came to 8 euro cents per share, compared with the S&P Capital IQ consensus estimate of 9 cents per share.

EPS increased 7.6% year over year from 7 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €155.1 million, a gain of 7.6% from €144.2 million in the prior-year period.

The normalized profit margin increased to 26.8% from 24.9% in the year-earlier period.

Total revenue fell 5.7% on an annual basis to €545.2 million from €578.0 million, and total operating expenses decreased 15.3% year over year to €281.2 million from €332.1 million.

Reported net income increased 5.8% on an annual basis to €172.0 million, or 9 cents per share, from €162.6 million, or 8 cents per share.