business plan for 2004 - EDP

EDP - Electricidade de Portugal, S.A.
Consolidated Profit and Loss Account
for the years ended December 31, 2003 and 2002
2003 2002
Sales 6 456 361 5 988 140
Cost of sales 3 921 046 3 687 097
Gross Margin 2 535 315 2 301 043
Other operating income
Services rendered 521 159 398 417
Work in progress for owr purposes 235 623 241 769
Other income 18 081 30 614
774 863 670 800
3 310 178 2 971 843
Other operating costs
Supplies and services 632 518 675 070
Personnel costs 646 636 624 771
Other expenses 203 984 183 112
1 483 138 1 482 953
Gross Operating Margin (EBITDA) 1 827 040 1 488 890
Provisions 75 706 100 645
Depreciation and amortisation 845 592 739 541
Operating Margin (EBIT) 905 742 648 704
Financial Gains / (losses) (266 600) (157 413)
(Amortisation of investments) (92 420) (65 431)
Current Results 546 722 425 860
Extraordinary Gains / (losses) (14 443) (138 939)
Profit before tax 532 279 286 921
Charge for income taxes 239 255 171 168
Charge for deferred income taxes (43 721) 571
Profit after tax 336 745 115 182
Minority interests (44 364) (220 034)
Consolidated Net Profit 381 109 335 216
Net Profit per share - Basic - Euros 0,13 euros 0,11 euros
Note: See accompanying notes to the Financial Statements in the Financial Report.
(Thousands of euros)
110/111