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    EDP   PTEDP0AM0009

EDP - ENERGIAS DE PORTUGAL, S.A.

(EDP)
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Real-time Euronext Lisbonne  -  08:53 2022-06-28 am EDT
4.581 EUR   +2.25%
06/27EDP - ENERGIAS DE PORTUGAL, S.A. INFORMS : EDP completes Asset Rotation of a 181 MW wind portfolio in Spain for an EV of 0.3bn
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06/27EDP ENERGIAS DE PORTUGAL S A : completes Asset Rotation of a 181 MW wind portfolio in Spain for an EV of €0.3bn
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06/27EDP - ENERGIAS DE PORTUGAL, S.A., INFORMS : EDP strengthens its position in APAC with two solar projects totalling 200 MWac in Vietnam
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EDP Swung to 1Q Loss Due to Hydro Production Shortfall, High Electricity Prices

05/05/2022 | 12:52pm EDT

By Giulia Petroni

EDP-Energias de Portugal SA said Thursday that it swung to a loss in the first quarter of the year as performance was hit by a shortfall in hydropower production and high electricity prices in the Iberian market.

The Portuguese energy company said it registered a net loss of 76 million euros ($80.2 million) in the quarter from a profit of EUR180 million in the year-earlier period.

Earnings before interest, taxes, depreciation and amortization decreased to EUR710 million from EUR864 million in the previous year. Due to extreme drought in Portugal during the winter season in 2021 and 2022, EDP said it had to purchase electricity in the Iberian wholesale market at soaring prices. This resulted in a EUR400 million Ebitda loss in the quarter.

Revenue from energy sales and services rose to EUR5.50 billion from EUR3.09 billion the previous year.

Looking at the full year, EDP said it expects the loss related to the hydro shortfall to be compensated by a positive performance across some of its businesses, including EDP Renovaveis, EDP Brasil and Iberian networks.


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


(END) Dow Jones Newswires

05-05-22 1251ET

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Financials
Sales 2022 15 957 M 16 930 M 16 930 M
Net income 2022 845 M 896 M 896 M
Net Debt 2022 14 136 M 14 998 M 14 998 M
P/E ratio 2022 20,9x
Yield 2022 4,29%
Capitalization 17 681 M 18 759 M 18 759 M
EV / Sales 2022 1,99x
EV / Sales 2023 1,97x
Nbr of Employees 12 884
Free-Float 67,9%
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Number of Analysts 22
Last Close Price 4,48 €
Average target price 5,60 €
Spread / Average Target 24,9%
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Managers and Directors
Miguel Stilwell de Andrade Chief Executive Officer
Rui Manuel Rodrigues Lopes Teixeira Chief Financial Officer
João Luís Ramalho de Carvalho Talone Chairman-Supervisory Board
Rita Sousa Head-Compliance
Fernando Maria Masaveu Herrero Member-Supervisory Board
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