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Energias de Portugal Q3 profit climbs 13.2% YOY

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Energias de Portugal Q3 profit climbs 13.2% YOY

EDP - Energias de Portugal SA said its normalized net income for the third quarter came to 3 euro cents per share, compared with 3 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €108.0 million, a gain of 13.2% from €95.4 million in the year-earlier period.

The normalized profit margin rose to 3.0% from 2.5% in the year-earlier period.

Total revenue decreased on an annual basis to €3.66 billion from €3.80 billion, and total operating expenses decreased from the prior-year period to €3.33 billion from €3.48 billion.

Reported net income totaled €149.1 million, or 4 cents per share, compared with €132.5 million, or 4 cents per share, in the year-earlier period.