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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 : Portugal's EDP utility named suspect in widening corruption probe

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07/13/2020 | 03:22pm EDT
FILE PHOTO: Portuguese electric power company Energias de Portugal (EDP) CEO Antonio Mexia speaks during a news conference in Lisbon

Prosecutors have named Portugal's largest utility EDP a formal suspect in a corruption investigation that caused the suspension of its CEO last week, the company said on Monday.

Prosecutors have named Portugal's largest utility EDP a formal suspect in a corruption investigation that caused the suspension of its CEO last week, the company said on Monday.

An EDP spokesman told Reuters the firm had received a notification from the state prosecutor's office. The development came a week after a judge ordered chief executive Antonio Mexia suspended over malpractice allegations dating from 2007.

The prosecutor's office referred queries to documents from its criminal investigation unit, but the papers were not immediately available.

EDP and Mexia have always denied any wrongdoing.

Prosecutors indicted Mexia in 2017, alleging former Economy Minister Manuel Pinho had benefited from a scheme to compensate EDP for the early end of fixed energy purchase contracts and an extension of 27 dam concessions without public tender.

Pinho has also denied any wrongdoing.

The EDP spokesman said the prosecutor's office had informed the firm that former energy secretary of state Artur Trindade was also named a suspect for allegedly benefiting the firm in exchange for unspecified favours during his 2012-2015 tenure.

Portuguese media also reported Trindade had been named.

The prosecutor's office referred queries about Trindade to its investigation unit also, but no confirmation was available.

Trindade, who is now president of the Iberian Electricity Market that promotes electrical cooperation between Spain and Portugal, could not be immediately reached for comment.

(Reporting by Sergio Goncalves, Writing by Catarina Demony; Editing by Andrei Khalip and Andrew Cawthorne)


Stocks mentioned in the article
ChangeLast1st jan.
EDP - ENERGIAS DE PORTUGAL, S.A. -0.32% 4.379 Delayed Quote.15.96%
EDP RENOVÁVEIS, S.A. 0.37% 16.16 Delayed Quote.53.90%
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Financials
Sales 2020 13 035 M 15 453 M 15 453 M
Net income 2020 771 M 914 M 914 M
Net Debt 2020 13 157 M 15 597 M 15 597 M
P/E ratio 2020 21,9x
Yield 2020 4,34%
Capitalization 17 273 M 20 447 M 20 477 M
EV / Sales 2020 2,33x
EV / Sales 2021 2,26x
Nbr of Employees 11 620
Free-Float 70,8%
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Technical analysis trends EDP - ENERGIAS DE PORTUGAL, S.A.
Short TermMid-TermLong Term
TrendsNeutralBullishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 16
Average target price 4,79 €
Last Close Price 4,38 €
Spread / Highest target 33,6%
Spread / Average Target 9,46%
Spread / Lowest Target -24,6%
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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EDP - ENERGIAS DE PORTUGAL, S.A.15.96%20 447
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