Q3 2024 Edp SA Earnings Call Transcript
Key Points
- EDP SA (EDPFY) achieved a 97% renewable generation in the first nine months of 2024, highlighting significant progress in decarbonization.
- The company reported a 7% increase in net profit, reaching nearly EUR1.1 billion, supported by improved performance below EBITA.
- Hydro generation increased by 66% year-on-year, reflecting strong hydro resources and contributing to a stable EBITA of EUR3.9 billion.
- EDP SA (EDPFY) is well-positioned to capitalize on data center growth opportunities in Iberia, with more than two gigawatts of grid access opportunities.
- The company maintains a strong focus on efficiency, with OpEx decreasing by 2% year-on-year, contributing to improved financial performance.
- Lower asset rotation gains impacted the renewables segment, with a 10% decrease in EBITA year-on-year.
- The company faces potential risks from the CMEC judicial case in Portugal, although EDP SA (EDPFY) maintains that the risk of any indirect penalty is remote.
- Operational execution since 2020 has faced challenges, with some delays in installation pace and operational issues.
- The Brazilian Real's depreciation has limited impact due to local currency funding, but it still affects net income.
- Asset rotation gains are expected to face short-term pressure, with similar impacts anticipated in the next couple of transactions for 2025.
Good morning. We welcome you to the EDP nine month 2024 results presentation conference call (Operator Instructions)
And now hand the conference over to Miguel Viana, head of IR EDP. Please go ahead, sir.
Good morning, ladies and gentlemen. Thank you for attending EDP nine months '24 results conference call we have today with us our CEO, Miguel Andrade; and our CFO, Rui Teixeira will present you the main alights of our strategy education and nine month '24 financial performance. We'll then move to the Q&A session in which we'll be taking your questions both by phone or written questions that you can insert from now onwards at our web page.
I'll give now the floor to our CEO migu.
'-
To them. Right? Thank you Miguel. And hello everyone, thank you for attending our nine months results conference call and what a week it's been so definitely a lot happening. And hopefully this call will help clarify issues
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
