EDP Renováveis increases profits by almost 200%

By TPN/Lusa, in News · 30-11-2019 12:00:00 · 2 Comments
EDP Renováveis increases profits by almost 200%

– EDP Renováveis, the renewable energy arm of Energias de Portugal, recorded profits of €342 million in the first nine months of 2019, an increase of 197% over the same period of 2018, according to information sent to the Portuguese Securities Market Commission (CMVM).

The company, which is headquartered in Madrid, but is listed on the Lisbon Stock Exchange, informed the market that revenues up to September totalled €1.36 billion, an increase of 10% over the previous year.

Earnings before tax, interest, depreciation and amortisation (EBITDA) totalled €1.21 billion (40% more than in the same period of 2018).

The company had 1,526 employees at September 30, 2010, 12% more than a year earlier.

In September 2019, EDP Renováveis managed a portfolio of operating assets of 10.8 GW (gigawatts) worldwide and in the last nine months built 344 MW (megawatts), of which 145 MW in Europe and 199 MW in the US.

In the first nine months of the year, EDP Renováveis produced 21.9 TWh (terawatts) of clean energy (+9% compared to the same period in 2017), avoiding 15 Mt (megatonnes) of harmful gas emissions (CO2).

EDP Renováveis posted profits of €313 million at the end of 2018, an increase of 14% over 2017.

Energias de Portugal, S.A. ("EDP"), is the largest shareholder of EDP Renováveis.


Comments:

Where are the millions raised by EDP since Sócrates and subsequent Portuguese governments began to protect EDP with laws and subsidies favorable to the monopolistic production of renewable energy in Portugal and defrauding the population with prohibitive electricity prices! Privatized, well fed and still filling their pockets EDP moved on to Spain! This was the result of being part of the EU and an uncritical adept of the unregulated globalization! Now a multinational company their loyalty lies only with the international capital! Accomplice politicians and the press defended the process under the banner of the renewable energy! What a lie! Tangible benefits only for the CEOs and shareholders! The economic diversification, the industrial infrastructure, and the fisheries (and the huge resources of EEZ and ECS) are running out of steam! We have switched to tourism they tell us! Yes, now we are just full time waiters of the world elites, of the EU bureaucracy, and of the unregulated globalization! Meanwhile, the ordinary Portuguese are mute and have been shut up! With expensive homes, high rents, and high priced goods their only option is to tighten their belts!

by Tony Fernandes from Other on 02-12-2019 01:25:00

Not surprised being the second or third most expensive electric in europe

by john from Porto on 01-12-2019 10:04:00
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