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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 : to Book Around EUR100 Million in 2020 Due to Shutdown of Coal Plants -- Update

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07/14/2020 | 06:39am EDT

--EDP anticipates an extraordinary cost of around EUR100 million in 2020 due to the closure of coal plants in Iberia

--The decision takes into account the deterioration of market conditions that occurred in 1H

 

By Giulia Petroni

 

EDP-Energias de Portugal SA said Tuesday that it expects to book costs of around 100 million euros ($113.5 million) before taxes this year following a decision to shut down its coal power plants in the Iberia region.

The Portuguese energy company said the decision takes into account the continuing deterioration of market conditions for these plants in the first half of the year.

In December, EDP had already assessed the lower competitiveness of coal plants in the region due to the higher cost of carbon dioxide emissions, lower gas prices, and the planned faster pace of growth of renewable installed capacity.

EDP added that it is developing projects related to the energy transition in the regions where the coal plants are located.

In Portugal, the company has submitted a generation license waiver for the Sines power plant to be effective in January 2021 and is developing a project to produce green hydrogen at the site.

 

Write to Giulia Petroni at giulia.petroni@wsj.com

 


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Financials
Sales 2020 13 035 M 15 461 M 15 461 M
Net income 2020 771 M 914 M 914 M
Net Debt 2020 13 157 M 15 606 M 15 606 M
P/E ratio 2020 21,9x
Yield 2020 4,34%
Capitalization 17 273 M 20 447 M 20 488 M
EV / Sales 2020 2,33x
EV / Sales 2021 2,19x
Nbr of Employees 11 620
Free-Float 70,8%
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Technical analysis trends EDP - ENERGIAS DE PORTUGAL, S.A.
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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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