Lower profits in 2021, due to drought

Electricity producer Energias de Portugal (EDP) announced Thursday that its net profit fell 18% last year, to 657 million euros, particularly affected by the decline in water resources in the Iberian Peninsula, which is suffering from an early drought.

It was a dry year, especially the fourth quarter, which had a negative impacton the group’s results, which were also penalized with “Rising energy prices in the international wholesale marketsMiguel Stiluel de Andrade, president of the Portuguese group, said during a press conference.

La sécheresse continuera d’avoir des répercussions dans l’activité d’EDP cette année, car la faible pluviométrie a déjà amené le gouvernement portugais à suspendre début février la production hydroélectrique DP’s volume péservé cinaire paris public.

In February, it rains a fifth of what it usually rains. There is no waterStillwell said.

There will be an effectAs for EDP, he acknowledged, adding that he was unable to rate it at this time. Hydropower accounts for 60% of the installed EDP capacity in the renewable energy sector in the Iberian Peninsula.

The total operating surplus (EBITDA) of EDP, the main shareholder of which is China’s state-owned China Three Gorges Group, also decreased by more than 20% of the capital, by 6% to 3.72 billion euros.

The group’s investments amounted to 3.9 billion euros last year, a large part of which was inRenewable energy” World Health Organization “It accounts for 75% of the total electricity productionGroup details in a press release.

The EDP also highlights the good results obtained in the clean energy sector. Its renewable energy subsidiary, EDP Renovaveis, announced, on Wednesday, a profit of 655 million euros, an increase of 18% compared to 2020.

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At the end of last year, the group reduced its debt by 6% to 11.56 billion euros.

The EDP board of directors will propose to its shareholders, at its meeting next year, a dividend of 0.19 euros per share, as it did in the previous fiscal year.

On the Lisbon Stock Exchange, Thursday’s EDP title closed 1.63% higher at €4.19, while the Renewables subsidiary’s title rose 3.85% to €18.61.

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