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TERNA Q1 profit climbs YOY

TERNA - Rete Elettrica Nazionale SpA said its normalized net income for the first quarter was €156.4 million, an increase from €153.7 million in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin dropped to 32.7% from 34.0% in the year-earlier period.

Total revenue grew 5.7% year over year to €478.1 million from €452.3 million, and total operating expenses grew 12.5% on an annual basis to €196.8 million from €175.0 million.

Reported net income totaled €165.2 million, compared with €145.2 million, or 7 cents per share, in the year-earlier period.