EDPR release 9M17 Results

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EDPR release 9M17 Results

Tuesday 31, October 2017

EDP Renewables 9M 2017: revenue up to €1,346 million (+11% YoY) as EBITDA reaches €991 million euros (+17% YoY)

Madrid, 31 October 2017: EDP Renewables (Euronext: EDPR), a global leader in the renewable energy sector and one of the largest wind energy producers in the world, announced today its results for the first nine months of 2017.

At 30 September, the company managed an operating portfolio totalling 10.7 GW spread across 10 different countries. Over the last 12 months, EDPR added 917 MW to its installed capacity, of which 627 MW are in the US, 90 MW in Europe and 200 MW in Mexico. At the end of September 2017, the company had 675 MW under construction.

Between January and September 2017, EDPR supplied 19.8 TWh of green electricity, up 10% on the 18.1 TWh reported in the same period of 2016. The increase in production over the last 12 months was mainly driven by capacity additions with higher wind resource especially in North America (+19% YoY) and Brazil (+28% YoY). 

Financial results

EDPR posted total revenue of €1,346 million in the first nine months of 2017 (+11% YoY), mainly due to new MW in operation (+€104m YoY), a higher average selling price (+€31m YoY) and FX (+€5m YoY) along with a positive load factor impact.
EBITDA was up 17% YoY to €991m, reflecting top line growth and higher efficiency. EBIT increased to €606m (+€202m YoY) as a result of the lower depreciation and amortisation costs. 

Net profit between January and September stood at €165 million, while adjusted net profit was up 45% YoY to €160m.
Retained cash flow totalled €717 million between January and September 2017 (up 41% YoY and +25% YoY if adjusted by non-recurring events in the period).

For 9M17 results documents press here.