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EDP's H1 net profit slips YOY on regulatory changes impact

EDP - Energias de Portugal SA on July 26 reported that first-half net profit declined from a year ago amid regulatory changes in Portugal.

Net profit attributable to EDP equity holders fell to 380 million in the first half of 2018 from 450 million in the same period in 2017. The company said it was affected by regulatory changes in Portugal and fluctuations in the exchange rate.

Adjusted for one-offs, recurring net profit advanced to €457 million from 435 million.

EBITDA fell to 1.72 billion from 1.90 billion.

EBITDA in Portugal fell 3%, the company said. Gross profit came in at 545 million, compared with 621 million in the year-ago period.