Q3 2025 EDP SA Earnings Call Transcript
Key Points
- EDP-Energias De Portugal SA (EDPFY) 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 its wind and solar segment, supported by nearly 20 gigawatts of installed capacity.
- EDP's integrated business in Iberia delivered solid results despite challenges, with the FlexGen fleet mitigating higher sourcing costs and lower hydro volumes.
- EDPR's recurring underlying EBITDA grew by 21%, reflecting strong operational performance and efficiency improvements.
- The company is on track to meet its 2025 guidance, with expectations of a recurring EBITDA of around EUR4.9 billion and a net profit of approximately EUR1.2 billion.
- Asset rotation gains were significantly lower in 2025, with EUR55 million compared to EUR250 million in the previous year.
- The hydro segment in Iberia experienced a 15% decline in EBITDA due to lower generation volumes and increased costs.
- EDP faced higher financial costs, particularly in Brazil, due to increased debt and currency depreciation.
- The company's net debt increased to EUR17.3 billion, reflecting investment execution and dividend payments.
- EDPR's average selling price declined by 9% year-on-year, influenced by changes in the generation mix and lower prices in Europe.
Good morning. We welcome you to the EDP and EDP Renewables nine month 2025 results presentation. (Operator Instructions) And now I 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 de Andrade; and our CFO, Rui Teixeira, that will present you the main highlights of EDP and EDPR financial performance in these 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 AM London time, our Capital Markets Day presentation. So the Q&A session will be focused on teams around nine months financial performance.
I'll pass now the floor to our CEO, Miguel Stilwell de Andrade.
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