February 24, 2011 / 7:02 AM / 9 years ago

EDPR 2010 net profit falls 30 pct, in line

LISBON, Feb 24 (Reuters) - Portugal’s wind power generator EDP Renewables (EDPR.LS) on Thursday posted a 30 percent fall in 2010 net profit due to higher costs of investment in new capacity, but its operating result improved on higher output.

EDPR, the world’s fourth-largest wind power company and a unit of Energias de Portugal (EDP.LS), said its net profit in last year totaled 80 million euros ($110 million).

Meanwhile, earnings before interest, taxes, depreciation and amortisation (EBITDA) rose 31 percent to 713 million euros as its generation capacity and output rose, EDPR said in a statement.

Analysts in a Reuters poll had forecast, on average, a net profit of 79 million euros and EBITDA of 701 million euros.

EDPR said earlier this month its power generation rose 32 percent last year thanks to new capacity. [ID:nLDE7112CO] (Reporting by Andrei Khalip )

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