EDP reported a mixed set of results for the first half. H1 EBITDA fell by 8% to €1,902m, mainly due to difficult conditions in Iberia. Net income decreased by 5% to €450m, despite a lower tax rate. On the positive side, the renewables segment and regulated networks should continue to boost earnings in the second half of the year. H1 net debt has deteriorated from €15.9bn in December 2016 to €16.89bn, essentially due to the annual dividend payment. However, the sale of gas
28 Jul 2017
Weak hydro in Iberia, disappointing cash generation but deleveraging is under way
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Weak hydro in Iberia, disappointing cash generation but deleveraging is under way
EDP-Energias de Portugal SA (EDP:FRA) | 0 0 1.5% | Mkt Cap: 10,242m
- Published:
28 Jul 2017 -
Author:
Juan Camilo Rodriguez -
Pages:
3
EDP reported a mixed set of results for the first half. H1 EBITDA fell by 8% to €1,902m, mainly due to difficult conditions in Iberia. Net income decreased by 5% to €450m, despite a lower tax rate. On the positive side, the renewables segment and regulated networks should continue to boost earnings in the second half of the year. H1 net debt has deteriorated from €15.9bn in December 2016 to €16.89bn, essentially due to the annual dividend payment. However, the sale of gas