EDPFY Energias De Portugal SA (PK)

By Kim Richters

EDP-Energias de Portugal SA said Thursday that fourth-quarter net profit declined despite rising revenue.

The Portuguese energy company said quarterly net profit was 146 million euros ($166.1 million) compared with EUR378 million a year earlier and earnings before interest, taxes, depreciation and amortization fell to EUR1.22 billion from EUR1.33 billion.

Revenue from energy sales, services and other for the quarter rose to EUR4.98 billion from EUR3.39 billion.

The company said profit in 2021 was hit by non-recurring effects of EUR169 million and its performance was negatively affected by an increase in energy prices in the wholesale market as well as hydro resources below average in Iberia.

EDP proposed a 2021 dividend of EUR0.19 a share, which it said is in line with the payout a year earlier.

Write to Kim Richters at kim.richters@wsj.com

(END) Dow Jones Newswires

February 17, 2022 12:31 ET (17:31 GMT)

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