Portugal · Delayed Price · Currency is EUR EDP, S.A. Earnings Call Transcripts
Fiscal Year 2026
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Q1 2026 saw resilient performance with recurring EBITDA of EUR 1.4 billion and net profit of EUR 399 million, despite lower Iberian prices and storm impacts. Upgraded 2026 guidance reflects strong networks, U.S. renewables growth, and disciplined cost management.
Fiscal Year 2025
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Recurring EBITDA and net profit exceeded guidance in 2025, driven by strong renewables and disciplined cost management, despite higher financial costs and storm impacts. 2026 and 2028 guidance are reaffirmed, with robust investment plans and stable regulatory frameworks supporting future growth.
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The plan targets €12 billion investment by 2028, focusing on US renewables and Iberian networks, with €5 billion asset rotation and €1 billion disposals to fund growth. Operational efficiency, digitalization, and disciplined project selection support stable returns, while rising demand from data centers and electrification drive renewables growth.
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Recurring net profit rose 5% year-on-year to EUR 974 million, driven by strong wind and solar growth, resilient networks, and efficiency gains. 2025 guidance remains robust, with EBITDA expected at EUR 4.9 billion and net profit near EUR 1.2 billion, despite higher costs in Brazil and a weaker Q4 for hydro.
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Underlying net profit rose 27% year-on-year to EUR 752 million, with EBITDA up 7% to EUR 2.6 billion, driven by strong integrated Iberian and renewables performance. 2025 guidance was upgraded, with recurring EBITDA expected at EUR 4.8–4.9 billion and net profit at EUR 1.2–1.3 billion.
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EBITDA rose 6% and net profit 19% year-over-year, driven by strong Iberian generation, renewables, and network performance. 2025 guidance is reaffirmed, with robust cash flow, high reservoir levels, and continued efficiency gains supporting a positive outlook.
Fiscal Year 2024
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2024 saw strong financial results with EBITDA and net profit exceeding guidance, driven by robust performance in Iberia and Brazil, efficiency gains, and a focus on high-return investments. 2026 guidance is reiterated, with prudent capital allocation and a €100 million share buyback.
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Nine-month results show strong financial and operational performance, with 97% renewable generation, net profit up 7% year-over-year, and robust growth in networks and hydro. The company is on track to exceed its €1.3 billion net income target for 2024 and maintains a solid balance sheet.
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A diversified global utility is accelerating its energy transition, targeting 10 GW of new renewables by 2026, with 80% of investments in wind and solar. Financial guidance points to steady EBITDA and net profit growth, while maintaining strong ESG commitments and a stable dividend policy.