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Banking Essentials Newsletter: 17th April Edition

Edison Q1 profit climbs YOY

Edison S.A. said its normalized net income for the first quarter came to 3 groszy per share, an increase of 15.8% from 3 groszy per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 101,790 zlotys, an increase from 43,230 zlotys in the prior-year period.

The normalized profit margin increased to 12.5% from 6.3% in the year-earlier period.

Total revenue grew 18.8% year over year to 814,130 zlotys from 685,250 zlotys, and total operating expenses rose 6.5% on an annual basis to 656,630 zlotys from 616,310 zlotys.

Reported net income totaled 261,370 zlotys, or 9 groszy per share, compared to a loss of 244,970 zlotys, or a loss of 17 groszy per share, in the prior-year period.

As of May 12, US$1 was equivalent to 3.87 zlotys.