EDP Renovaveis 9-Month Earnings, Revenue Fell
29 October 2020 - 7:53PM
Dow Jones News
By Cecilia Butini
EDP Renovaveis SA said Thursday that earnings and revenue fell
in the first nine months of 2020.
The Portuguese renewable-energy company posted a net profit of
319 million euros ($374.7 million), a 7% decline from the previous
year.
Earnings before interest, taxes depreciation and amortization
came in at EUR1.07 billion, down from EUR1.22 billion in the same
period in 2019, EDP said.
Revenue for the period clocked in at EUR1.26 billion, an 8%
decline from EUR1.36 billion in the previous year.
EDP Renovaveis said it supplied 20.4 terrawatt hours of clean
electricity in the period, a 7% on-year decline.
The company added that it has been pursuing a sell-down strategy
in the period, completing the sale of its full stake in the
137-megawatt Babilonia wind farm in Brazil and decommissioning 18
megawatts in Spain for repowering.
Write to Cecilia Butini at cecilia.butini@wsj.com
(END) Dow Jones Newswires
October 29, 2020 04:38 ET (08:38 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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