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EDP's profit rises 14% to beat estimates, helped by rainfall, Brazil

Portugal's largest energy EDP published on Thursday a strongerthanexpected 14% increase in ninemonth net combined revenue, benefiting from strong rains in Iberia and additional earnings from its Brazilian unit after a complete takeover.

EDP????? stole a net 1.08 billion euros ($ 1.17 billion),. beating the typical experts' forecast of 993 million euros in. an LSEG poll, despite smaller sized capital gains.

Earnings reported on Wednesday by its subsidiary EDP. Renovaveis, the world's fourth-largest wind energy. manufacturer, fell 53% to 210 million euros.

EDP ???? said it scheduled 179 million euros in consolidated. capital gains from the sale of stakes in wind and solar tasks. and an electricity transmission line. That compares with capital. gains of 393 million euros the previous year.

Total electrical power generation increased 4% to 41,862. gigawatt-hours (GWh), 97% of which was sustainable. It was. supported by a 65% jump in hydroelectric production in Iberia to. 9,306 GWh as heavy rain in Iberia balanced out the 42% decline of. electrical power spot cost in Spain, it said.

Earnings before interest, taxes, devaluation and. amortization (EBITDA) rose 2% in the 9 months from a year earlier. to around 3.9 billion euros, compared to 3.7 billion euros. expected by analysts.

(source: Reuters)