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Energias de Portugal Q3 profit climbs 289.0% YOY

EDP - Energias de Portugal SA said its third-quarter normalized net income amounted to 12 euro cents per share, an increase of 279.2% from 3 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 €434.7 million, a gain of 289.0% from €111.7 million in the year-earlier period.

The normalized profit margin rose to 11.5% from 3.2% in the year-earlier period.

Total revenue increased 8.3% on an annual basis to €3.78 billion from €3.49 billion, and total operating expenses grew 12.1% on an annual basis to €3.46 billion from €3.08 billion.

Reported net income increased 387.3% from the prior-year period to €696.1 million, or 19 cents per share, from €142.9 million, or 4 cents per share.