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Energias de Portugal Q1 profit climbs 31.3% YOY

EDP - Energias de Portugal SA said its first-quarter normalized net income amounted to 6 euro cents per share, an increase of 31.3% from 4 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 €213.3 million, a gain of 31.3% from €162.4 million in the year-earlier period.

The normalized profit margin increased to 5.6% from 3.9% in the year-earlier period.

Total revenue declined 8.4% year over year to €3.79 billion from €4.14 billion, and total operating expenses declined 12.4% year over year to €3.20 billion from €3.65 billion.

Reported net income came to €254.5 million, or 7 cents per share, compared with €254.3 million, or 7 cents per share, in the prior-year period.