Revenues fell by 2.8% to €3.255bn ($4.3bn), while earnings before interest, tax, depreciation and amortisation (Ebitda) fell by 3.2% to €655m.
The company said that regulatory changes led to 43.2% fall in pre-tax profits at its energy division to €58m.
“The fall in net profit was mainly due to changes to the Spanish regulatory regime for renewables – namely the Law 15/2012 of December 27, and the Royal Decree Law 2/2013 of February 1 – which cut net average wind prices by 11.6%
