EDP Renovaveis, SA

EDPR

Equity

ISIN ES0127797019 / Valor 4253975

Euronext Lisbon (2024-12-23)

EUR 9.78+2.89%

EDP Renovaveis, SA
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About company

EDP Renováveis, SA (EDPR) is a prominent player in the renewable energy industry, recognized as the fourth largest producer of renewable energy globally. The company has established a significant presence across 28 countries, including markets in Europe, North and South America, Asia, and Africa. EDPR's business operations are characterized by a strong development portfolio, high-quality assets, and leading operational capacity, which have collectively contributed to its remarkable growth trajectory in recent years. As the main shareholder, EDP, a global energy leader, supports EDPR's endeavors in the renewable sector. While EDPR emphasizes its commitment to social progress and sustainability, it is also acknowledged for its employee-centric policies, earning accolades such as inclusion in the Bloomberg Gender-Equality Index and recognition as a Top Employer in multiple regions.

Summarized from source with an LLMView SourceSector: Utilities

Revenue Growth

In the first nine months of 2024, EDP Renovaveis, SA reported a 5% year-over-year increase in revenues, reaching €1,731 million. This growth was driven by a 5% increase in electricity generation, despite a 4% decrease in the average selling price to €59.4/MWh. The company's hedging strategy helped mitigate the impact of lower electricity market prices in Europe.

EBITDA Performance

EDP Renovaveis, SA's recurring EBITDA for the first nine months of 2024 was €1,294 million, a decrease from €1,437 million in the same period of 2023. The decline was primarily due to lower asset rotation gains, which amounted to €179 million compared to €393 million in the previous year. However, the underlying EBITDA, excluding asset rotation gains, improved by 7% year-over-year.

Net Profit

The recurring net profit for EDP Renovaveis, SA in the first nine months of 2024 was €210 million. This was a decrease from the €445 million reported in the same period of 2023. The reduction in net profit was mainly due to lower asset rotation gains, despite the positive performance in revenue and operational efficiency.

Investment and Net Debt

During the first nine months of 2024, EDP Renovaveis, SA made gross investments totaling €2.3 billion, with over 80% of the capital expenditure focused on Europe and North America. Net debt increased by €2.0 billion from December 2023, reaching €7.8 billion by September 2024, reflecting the company's ongoing investments in renewable capacity expansion.

Operational Expansion

EDP Renovaveis, SA added 1.3 GW of new renewable capacity in the first nine months of 2024, contributing to a total installed capacity of 16.8 GW by September 2024. The company focused on expanding its solar capacity in the US, which accounted for 0.9 GW of the new additions. Overall, the installed capacity increased by 11% year-over-year.

Summarized from source with an LLMView Source

Key figures

-47.2%1Y

-55.2%3Y

-4.35%5Y

Performance

33.5%1Y

32.8%3Y

34.4%5Y

Volatility