EDP net profit up 14% y/y in 9-mo 2024

Portuguese utility EDP - Energias de Portugal SA (ELI:EDP) saw its net profit increase 14% on the year to a little over EUR 1 billion (USD 1.07bn) in the first nine months of 2024.

EDP attributed the rise to a strong performance in the Brazilian electricity networks business and the recovery of hydro production in Iberia.

Earnings before interest, tax, depreciation and amortisation (EBITDA) went up by 2% to EUR 3.9 billion. Recurring net profit showed a 7% improvement in the period in question to some EUR 1.095 billion.

The company's renewable energy plants produced 18% more electricity in the first nine months of 2024 compared to the previous year. As of September, the company had 24.8 GW of installed renewables capacity.

(EUR 1.0 = USD 1.079)

Choose your newsletter by Renewables Now. Join for free!