EDP EDP Energias DE Portugal SA

LISBON--Portuguese power utility Energias de Portugal SA (EDP.LB) Thursday said its second-quarter net profit fell 8.2% because higher finance costs.

MAIN FACTS:

-Second quarter net profit dropped to 244.5 million euros ($298 million) from EUR266.3 million a year earlier. Four analysts polled by Dow Jones Newswires had forecast an average net profit of EUR238.5 million.

-Earnings before interest, taxes, depreciation and amortization fell to EUR881.6 million from EUR914.4 million in the second quarter of last year.

-Finance costs rose to EUR186.2 million from EUR154.8 million.

-EDP said in a separate statement it secured a EUR1 billion, five-year loan from China Development Bank. The deal is part of a strategic partnership signed between EDP and China Three Gorges Corporation in December.

Write to Madrid bureau at djmadrid@dowjones.com

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