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Galp Energia SGPS Q3 profit climbs 43.6% YOY

Galp Energia SGPS SA said its normalized net income for the third quarter amounted to 21 euro cents per share, compared with the S&P Capital IQ consensus estimate of 20 cents per share.

EPS climbed 43.6% year over year from 15 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €173.8 million, an increase of 43.6% from €121.0 million in the year-earlier period.

The normalized profit margin climbed to 4.4% from 3.4% in the year-earlier period.

Total revenue climbed 11.2% year over year to €3.91 billion from €3.52 billion, and total operating expenses rose 9.2% from the prior-year period to €3.62 billion from €3.31 billion.

Reported net income grew 79.7% year over year to €163.5 million, or 20 cents per share, from €91.0 million, or 11 cents per share.