EDP Renovaveis, SA

EDW0

Equity

ISIN US2683981045 / Valor 12919401

Deutsche Boerse AG (2024-10-23)

EUR 25.40-5.93%

EDP Renovaveis, SA
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About company

EDP Renovaveis, SA is a global renewable energy company with a strong development portfolio and operational capacity, operating in 28 international markets. The company is committed to sustainability and social progress, with a focus on employee-centered policies. EDP - EDPR's main shareholder - is a global energy company known for its innovation and sustainability efforts. EDP Renovaveis, SA is a leader in the renewable energy sector, with a strong presence in various countries around the world.

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. Excluding asset rotation gains, the underlying EBITDA 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 Capacity

As of September 2024, EDP Renovaveis, SA had an installed renewable capacity of 16.8 GW, marking an 11% year-over-year increase. The company added 1.3 GW of new capacity in the first nine months of 2024, with significant contributions from solar capacity additions in the US. The total renewable generation increased by 5% year-over-year to 26.5 TWh, helping avoid 15.7 million tons of CO2 emissions.

Summarized from source with an LLMView Source

Key figures

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Performance

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