EDP renewables profits drop 30% to €115m

  • ECO News
  • 7 November 2018

The first nine months of the year, energy company EDPR saw its profits fall by 30%, in comparison to last year's values. The company's EBITDA decreased by 12%.

Portuguese renewable energy company EDP Renováveis made a €115.2 million profit in the first nine months of 2018, a 30% decrease compared to the same period in 2017, according to the information sent on Wednesday to the Portuguese Stock Exchange Commission (CMVM).

The company is headquartered in Madrid but is listed on the Lisbon stock market. Its revenues up to September totaled 1.239 billion, 8% less than a year earlier.

The profit before taxes, interest, depreciation, and amortization (EBITDA) totaled €869 million (12% less than in the same period in 2017).

The total net investment in the same period was €1.025 billion, an increase of 47% compared to the same period.

In the first nine months of the year, EDP Renováveis produced 20.7 TW (Terawatts) of clean energy (+4% compared to 2017), avoiding 16.3 Mt (megatonnes) of harmful gas emissions (CO2).

Energias de Portugal, S.A. (“EDP”), is the largest shareholder of EDP Renováveis.