Portugal’s largest power utility EDP on Wednesday reported a 44% rise in 2025 net profit, driven by robust earnings from its renewable arm, despite a decline in gains from divestitures of older renewable plants.
Consolidated net profit rose to 1.15 billion euros ($1.36 billion).
Subsidiary EDP Renovaveis, the world’s fourth-largest wind energy producer, reported a net profit of 216 million euros, reversing a 556 million-euro net loss in 2024.
EDP said it booked 64 million euros in capital gains from the sale of wind and solar parks last year, down from 181 million euros in 2024. The company has been divesting stakes in established plants to fund new projects.
The company’s profit was also affected by lower electricity prices in Portugal and Spain and depreciation of the Brazilian real against the euro, which reduced the contribution of its Brazilian unit to results.
Earnings before interest, taxes, depreciation and amortisation (EBITDA) rose 5% year-on-year to more than 5 billion euros.
Operating costs fell 2% to 1.9 billion euros, despite installing 2.1 gigawatts (GW) of new capacity last year, reflecting “increasing efficiency,” EDP said.
Total capacity rose to 32.7 GW last year, of which 87% was from renewable energy sources.
The executive board will propose a 2.5% rise in the 2025 dividend to 0.205 euros per share at its April 16 annual shareholders’ meeting, it said.
($1 = 0.8470 euros)
(Reporting by Sergio Goncalves)
