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MarketScreener Homepage  >  Equities  >  Euronext Lisbonne  >  EDP - Energias de Portugal, S.A.    EDP   PTEDP0AM0009

EDP - ENERGIAS DE PORTUGAL, S.A.

(EDP)
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EDP Energias de Portugal S A : Operating Data Preview 9M20

10/09/2020 | 01:05pm EST

Operating Data Preview 9M20

Lisbon, October 9th, 2020

KEY HIGHLIGHTS

  • Installed capacity reached 26.8 GW, of which 74% from renewable sources, reflecting 726 MW of wind capacity added over the last 12 months. As of end of Sep-20,we had 1.9 GW of wind and solar projects under construction. Our coal capacity will soon be reduced, as in July 2020 we announced the anticipated closure of 2 coal plants in Iberia (Sines e Soto 3, with 1.5 GW) in early 2021.
  • Electricity generation was predominantly derived from renewable sources: 74% of total, with hydro generation in line with historical average and wind generation 9% below expected volumes. The 21% YoY increase of coal generation in Iberia in the 3Q20 was driven by the forced coal stocks burning ahead of the earlier closure of two coal plants in Iberia.
  • Electricity distributed in Portugal was broadly stable in 3Q20 (-0.4%YoY) reflecting a clear recovery from the Covid-19 lockdown period (-11% YoY in 2Q20) and contributing for a 4% YoY decline in 9M20. In Spain, electricity distributed in our region (-12% YoY in the 9M20) was also penalised by a decline in industrial activity. This compares with a 6% decline demand in Spain as a whole in 9M20 (-3% YoY in 3Q20 vs. -13% in 2Q20). In Brazil, distributed volume declined 7% in the 9M20 YoY, with a 3.5% YoY decline in the 3Q20.
  • In the supply business in Iberia, electricity sold declined 4% in Portugal and 12% in Spain, mostly reflecting the impacts of the pandemic, while the volume of gas supplied increased 4% in Iberia due to new large clients in our portfolio.

INSTALLED CAPACITY

Installed capacity | Sep-20

Capacity evolution | YoY

MW

Sep-20

Sep-19

%

Wind

10,842

10,280

+563

+5%

1%

North America

6,045

5,472

+573

+10%

Europe

4,346

4,341

+6

+0%

12%

Brazil

331

467

-137

-29%

14%

40%

Hydro

8,785

8,785

Iberia (1)

7,186

7,186

0.5%

26.8 GW

Brazil

1,599

1,599

Solar

145

145

Gas Iberia

3,729

3,729

33%

Coal

3,150

3,150

74%

Iberia

2,430

2,430

Renewables

Brazil

720

720

Nuclear Spain

156

156

Wind

Hydro

Solar

Capacity under construction | Sep-20

Cogen. & Waste

42

49

-7

-14%

Gas

Coal

Other

1,893 MW

Total

26,849

26,294

+556

+2%

(1) Includes small-hydro

ELECTRICITY GENERATION

Electricity generation | 9M20

GWh

9M20

9M19

%

3Q20

3Q19

%

Wind

20,135

21,668

-1,532

-7%

5,612

5,651

-39

-1%

North America

12,249

11,899

+349

+3%

3,135

3,149

-15

-0%

2%

7%

Europe

7,102

8,510

-1,408

-17%

2,080

1,941

+139

+7%

Brazil

785

1,258

-474

-38%

397

561

-164

-29%

17%

Hydro

13,557

8,967

+4,590

+51%

2,479

2,164

+315

+15%

Iberia(1)

9,600

5,934

+3,666

+62%

1,651

1,598

+52

+3%

45.9 TWh 44%

0.5%

Brazil

3,956

3,033

+924

+30%

829

566

+263

+46%

Solar

219

225

-6

-3%

79

85

-6

-7%

Gas Iberia

7,816

7,465

+351

+5%

3,864

3,746

+118

+3%

30%

Coal

3,156

8,733

-5,577

-64%

1,475

2,310

-835

-36%

74%

Iberia

2,637

6,211

-3,574

-58%

1,433

1,183

+250

+21%

Renewables

Brazil

519

2,522

-2,003

-79%

43

1,127

-1,085

-96%

Wind

Hydro Solar Gas Coal Other

Nuclear Spain

857

889

-31

-4%

336

337

-

-0%

Cogen. & Waste

149

225

-76

-34%

53

64

-11

-17%

Total

45,890

48,172

-2,282

-5%

13,899

14,357

-458

-3%

  1. Includes small-hydro

LOAD FACTORS

Wind & Solar Production deviation vs.

Hydro resources deviation vs.

avg. P50 | 9M20 vs 9M19

historical avg. | 9M20 vs 9M19

Load factors

9M20

9M19

3Q20

3Q19

Wind

29%

30%

24%

25%

North America

32%

33%

24%

26%

Europe

25%

26%

22%

21%

Brazil

36%

41%

54%

54%

Hydro

-3%

Iberia(1)

20%

13%

10%

10%

Brazil

38%

29%

23%

16%

-4%

Solar

23%

24%

25%

26%

Gas Iberia

32%

31%

47%

45%

-9%

Coal

-39%

Iberia

17%

39%

27%

22%

9M20

9M19

9M20

9M19

Brazil

11%

53%

3%

71%

Nuclear Spain

84%

87%

98%

98%

(1) Includes small-hydro

Investor Relations Department

Phone: +351 21 001 28 34

Email: ir@edp.com

www.edp.com

Operating Data Preview 9M20

Lisbon, October 9th, 2020

ENERGY SUPPLY

Volumes of electricity supplied in Iberia | 9M20

Volumes supplied (GWh)

No. of Clients (th)

9M20

9M19

%

3Q20

3Q19

%

9M20

9M19

%

Electricity(1)

41,598

35,573

+16.9%

13,444

13,650

-1.5%

Iberia

20,895

22,545

-7.3%

7,035

7,596

-7.4%

5,226

5,270

-0.8%

46%

Portugal

12,640

13,187

-4.2%

4,202

4,342

-3.2%

4,065

4,112

-1.1%

20.9 TWh 54%

Spain

8,255

9,358

-11.8%

2,833

3,254

-12.9%

1,160

1,158

+0.2%

Brazil

20,703

13,028

+59%

6,408

6,054

+5.9%

Gas(1)

8,627

8,284

+4.1%

1,986

1,821

+9.0%

1,555

1,560

-0.3%

Portugal

3,014

2,704

+11.5%

998

770

+29.6%

653

659

-0.9%

Spain

5,613

5,580

+0.6%

988

1,052

-6.0%

903

901

+0.2%

Business Residential

(1) Last resort supply excluded for Portugal but included for Spain

ELECTRICITY DISTRIBUTION

Iberia

9M20

9M19

%

Electricity distributed (GWh)

41,148

43,239

-2,091

-4.8%

Portugal(1)

35,627

36,973

-1,346

-3.6%

Spain

5,521

6,266

-745

-11.9%

Customers connected (th)

6,976

6,937

+40

+0.6%

Portugal(1)

6,306

6,269

+37

+0.6%

Spain

670

668

+2

+0.4%

  1. Electricity volume that entered the distribution grid

Brazil

9M20

9M19

%

Electricity distributed (GWh)

17,823

19,114

-1,291

-6.8%

Final customers

9,863

10,588

-725

-6.8%

Access customers

7,960

8,525

-566

-6.6%

Customers connected (th)

3,574

3,475

+98

+2.8%

EDP São Paulo

1,967

1,900

+67

+3.5%

EDP Espírito Santo

1,607

1,576

+31

+2.0%

MARKET INDICATORS

Iberian market

9M20

9M19

%

Average electricity spot price - Spain

€/MWh

32

50

-36%

Hydro coefficient - Portugal

1.0 = avg. Year

0.97

0.61

59%

Hydro coefficient - Spain

1.0 = avg. Year

1.00

0.70

43%

Wind coefficient - Portugal

1.0 = avg. Year

0.89

0.99

-10%

Brazilian market

Average spot price (PLD)

R$/MWh

118

212

-44%

Generation Scalling Factor (GSF) (1)

%

85%

86%

-1%

Exchange rates

EUR/USD - Average

1.13

1.12

0%

EUR/BRL - Average

5.70

4.37

-23%

EUR/USD - End of period

1.17

1.09

-7%

EUR/BRL - End of period

6.63

4.53

-32%

(1) Weighted average

KEY ANNOUNCEMENTS

14-Jul-2020

EDP sells Portuguese tariff deficit for €0.3 billion

15-Jul-2020

EDP enters into an agreement with Macquarie to acquire Viesgo and launches a rights issue

10-Aug-2020

EDP announces €0.5bn asset rotation deal for wind farms in Spain

29-Aug-2020

EDPB announces program of acquisition of treasury shares and dividend policy update

2-Sep-2020

EDP announced $0.7 bn sell down deal for wind and solar portfolio in North America

17-Sep-2020

EDP issues a US$850 million long 7-year green bond at 1.71% coupon

RESULTS RELEASE

EDP's 9M20 results will be released after Euronext Lisbon market close on October 29th, 2020. A conference call will be hosted by EDP's interim CEO, Mr. Miguel Stilwell d'Andrade on the next day, October 30th, 2020, at 11:30 GMT. More information will be available on www.edp.com.

Investor Relations Department

Phone: +351 21 001 28 34

Email: ir@edp.com

www.edp.com

This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

EDP - Energias de Portugal SA published this content on 09 October 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 09 October 2020 17:04:05 UTC


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Financials
Sales 2020 13 488 M 16 247 M 16 247 M
Net income 2020 758 M 914 M 914 M
Net Debt 2020 12 843 M 15 471 M 15 471 M
P/E ratio 2020 22,9x
Yield 2020 4,27%
Capitalization 17 404 M 20 800 M 20 964 M
EV / Sales 2020 2,24x
EV / Sales 2021 2,25x
Nbr of Employees 11 760
Free-Float 70,8%
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EDP - Energias de Portugal, S.A. Technical Analysis Chart | MarketScreener
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Technical analysis trends EDP - ENERGIAS DE PORTUGAL, S.A.
Short TermMid-TermLong Term
TrendsBullishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 17
Average target price 4,89 €
Last Close Price 4,47 €
Spread / Highest target 30,9%
Spread / Average Target 9,53%
Spread / Lowest Target -26,1%
EPS Revisions
Managers
NameTitle
Miguel Stilwell de Andrade Chief Executive Officer & Chief Financial Officer
Luís Filipe Marques Amado Chairman-Supervisory Board
Eduardo de Almeida Catroga Member-Supervisory Board
Felipe Fernández Member-Supervisory Board
Maria Celeste Ferreira Lopes Cardona Member-Supervisory Board
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