Q3 2025 EDP Renovaveis SA Earnings Call Transcript
Key Points
- EDP Renovaveis SA (EDRVF) reported a recurring net profit of EUR974 million for the first nine months of 2025, marking a 5% increase year-on-year.
- The company achieved a 21% year-on-year growth in underlying EBITDA for wind and solar, supported by nearly 20 gigawatts of installed capacity.
- EDP Renovaveis SA (EDRVF) demonstrated strong operational performance with a 14% increase in generation capacity.
- The company maintained efficiency improvements, with lower costs and better productivity metrics, such as reduced OpEx per megawatt.
- EDP Renovaveis SA (EDRVF) is on track to meet its 2025 guidance, with a recurring EBITDA expected to reach EUR4.9 billion, supported by strong performance across all business segments.
- Asset rotation gains were significantly lower at EUR55 million compared to EUR250 million in the same period last year, impacting overall financial performance.
- The hydro, clients, and energy management segment saw a EUR99 million decrease year-on-year due to lower hydro volumes, lower contracted prices, and higher sourcing costs.
- EBITDA from the network side declined by EUR91 million, primarily due to the absence of asset rotation gains and the loss of EBITDA from sold transmission lots.
- The company faced challenges with lower renewable resources in Q3, particularly in North America, which was one of the worst quarters since 1989.
- Net debt increased to EUR17.3 billion from EUR15.6 billion at year-end 2024, reflecting the execution of the investment plan and annual dividend payments.
Good morning. We welcome you to the EDP and EDP Renewables nine Months 2025 results presentation. (Operator Instructions)
I now hand the conference over to Mr. Miguel Viana, Head of IR and ESG. Please go ahead, sir.
Good morning. Welcome to EDP and EDPR nine months 2025 results conference call. We have with us today our CEO, Miguel Stilwell d' Andrade; and our CFO, Rui Teixeira, that will present you the main highlights of EDP and EDPR financial performance in the first nine months of 2025. The presentation will be followed by a Q&A session in which we'll be receiving just written questions that you can insert from now onwards in the text box available in the webcast. As we'll have just later on at 10:00 AM London time, our Capital Markets Day presentation. So the Q&A session will be focused on teams around the nine months financial performance.
I'll pass now the floor to our CEO, Miguel Stilwell d' Andrade.
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