EDP raises 2026 recurring profit target again

EDP has raised its 2026 recurring net profit target again, now guiding for €1.4 billion to €1.5 billion, 16% above the goal set at its Capital Markets Day a year ago. It is the Portuguese utility’s third increase this year and points to stronger-than-expected execution across its businesses.

In a presentation filed on the website of CMVM, Portugal’s securities market regulator, EDP also lifted its EBITDA target for 2026 to €5.4 billion, from the €4.9 billion-€5 billion range presented in London in November 2025. Chief executive Miguel Stilwell d’Andrade told analysts the company was “raising guidance… again” and said the year had been going very well.

EDP said the higher outlook reflects business-plan execution above expectations in all segments. In networks, it pointed to investment plan delivery, better regulated returns and efficiency. In FlexGen and customer operations, it highlighted above-average hydro volumes in Iberia, better prices and pumping activity. At EDP Renováveis, it said more than 85% of volumes are contracted long term or hedged, while asset rotation is generating gains of about €0.3 billion.

The guidance upgrade follows EDP’s announcement on Thursday that net profit rose 22% to €1.91 billion in the first nine months to September, supported by renewables, higher gains from asset rotation and the start of new regulatory periods for electricity grids in the Iberian Peninsula. EDP Renováveis, in which EDP holds 71.2%, had said a day earlier that profit reached nearly €440 million to September, up from €107 million a year earlier.

Originally published at Eco.pt