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Energias de Portugal Q1 profit falls YOY

EDP - Energias de Portugal SA said its first-quarter normalized net income amounted to 5 euro cents per share, a decrease of 18.4% from 6 cents per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €174.1 million, a decline of 18.8% from €214.4 million in the year-earlier period.

The normalized profit margin dropped to 3.9% from 5.0% in the year-earlier period.

Total revenue declined on an annual basis to €4.14 billion from €4.33 billion, and total operating expenses decreased on an annual basis to €3.62 billion from €3.73 billion.

Reported net income grew 32.0% from the prior-year period to €290.7 million, or 8 cents per share, from €220.1 million, or 6 cents per share.