By Mauro Orru

Endesa SA said Tuesday that its net profit for 2019 plunged 87.9% from the previous year as an impairment charge took its toll.

The Spanish utility company--part of Enel SpA--reported net profit of 171 million euros ($185.3 million) for the year down from EUR1.42 billion the previous year, citing an impairment of EUR1.11 billion in relation to mainland coal-fired thermal generation assets and EUR304 million for cash-generating units in non-mainland territories.

Revenue fell 0.2% to EUR20.16 billion for the same period, lower than the EUR20.68 billion analysts expected, according to FactSet.

Write to Mauro Orru at mauro.orru@wsj.com; @MauroOrru94

(END) Dow Jones Newswires

February 25, 2020 03:18 ET (08:18 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.
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