Portugal · Delayed Price · Currency is EUR EDP, S.A. Earnings Call Transcripts
Fiscal Year 2025
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2025 delivered strong results with EBITDA and net profit above guidance, driven by renewables and operational efficiency. Net debt outperformed targets, and 2026–2028 guidance is reaffirmed, supported by robust investment plans and regulatory clarity.
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€12 billion investment through 2028 targets US renewables and Iberian networks, with €5 billion asset rotation and €1 billion disposals. EBITDA and net profit are set to rise, net debt to fall, and dividend to increase. Flexibility and disciplined growth underpin the plan.
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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, with EBITDA up 7% and upgraded 2025 guidance driven by strong Iberian and renewables performance. Regulatory returns in Iberia and FX in Brazil remain key risks, while asset rotation and deleveraging are on track.
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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.