Spanish power utility Endesa SA (ELE.MC) Monday said its first-half net profit more than tripledboosted mainly by capital gains from the divestment of assets to German power giant E.ON AG (EON).
Endesa said its net profit rose to EUR6.0 billion from EUR1.26 billion in the first half of 2007.
The company gained an extraordinary income of EUR4.55 billion from an assets disposals to E.ON, in a transaction that closed in June.
Earnings were also helped by favorable retail electricity prices in Spain, and a rise in Endesa's nuclear energy output.
Endesa's revenue rose 30% to EUR10.79 billion in the first half from the year-earlier period, while Ebitda rose 8% to EUR3.49 billion from a year earlier.
Endesa is controlled by Spanish infrastructure and energy company Acciona SA (ANA.MC) and Italian power utility Enel SpA (ENEL.MI), with a combined 92% stake.