The
renewable
energy
giant
saw
earnings
before
interest,
tax,
depreciation
and
amortisation
(Ebitda)
fall
3.6%
to
€393m
($509m)
compared
with
the
first
three
months
of
2011.
Net
profit
was
28%
lower
at
€97m
and
revenues
fell
2%
to
€611m.
EGP
chief
executive
Francesco
Starace
says:
“The
less
favourable
water
conditions
in
some
key
markets
during
the
first
quarter
of
2012
caused
a
decline
in
production
compared
to
the
same
period
of
last
year.
This
decline
was
offset
by
growing
installed
capacity.”
EGP’s
installed
capacity
at
March
31
this
year
totalled
7.2GW,
of
which…
