By Pietro Lombardi

EDP-Energias de Portugal SA said Thursday that profit fell sharply in the fourth quarter due to growing impairment and amortization.

The Portuguese energy company said quarterly net profit was 51 million euros ($55.1 million) compared with EUR222 million a year earlier.

Revenue fell 2% to EUR3.89 billion, the company said.

Amortization and impairment rose 70% on year.

The company proposed a dividend of EUR0.19 a share.

Write to Pietro Lombardi at pietro.lombardi@wsj.com

(END) Dow Jones Newswires

February 20, 2020 12:55 ET (17:55 GMT)

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