Portugal's EDP Fourth-Quarter Net Profit Drops on Costs

LISBON--Portuguese energy company Energias de Portugal SA (EDP.LB) said Tuesday its fourth-quarter net profit fell 28% on the year, as higher costs offset a better performance from the revenue side.

MAIN FACTS:

-- Net profit was down to 218 million euros ($284 million) in the fourth quarter from EUR301 million a year earlier. A Dow Jones Newswires poll of three analysts had estimated net profit of EUR213.7 million.

-- Earnings before interest, taxes, depreciation and amortization, or Ebitda, decreased to EUR886 million from EUR980.6 million.

-- Operating revenue rose to EUR4.25 billion from EUR3.96 billion, but was overshadowed by operating costs, which were up to EUR442.3 million from EUR373.4 million.

-- In 2012 as a whole, EDP's net profit slipped to EUR1.01 billion from EUR1.13 billion in 2011.

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