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Energias de Portugal Q1 profit falls YOY

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Energias de Portugal Q1 profit falls YOY

EDP - Energias de Portugal SA said its normalized net income for the first quarter was 5 euro cents per share, a decrease of 14.9% 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 €181.6 million, a decline of 14.9% from €213.3 million in the prior-year period.

The normalized profit margin declined to 4.3% from 5.6% in the year-earlier period.

Total revenue grew 11.8% year over year to €4.23 billion from €3.79 billion, and total operating expenses climbed 15.6% from the prior-year period to €3.70 billion from €3.20 billion.

Reported net income declined 14.3% from the prior-year period to €218.1 million, or 6 cents per share, from €254.5 million, or 7 cents per share.