In line with peers, EDP faced a mixed H1 penalised by lower generation from renewables and lower margins due to increasing wholesale energy prices, but positively impacted by the recovery in the industrial sector. This did not prevent the group from confirming its FY21 guidance.
We like the strong development in renewables capacity, one of the fastest in the sector, even if it mechanically weighed on net indebtedness.
Positive recommendation confirmed.

30 Jul 2021
H1 21: mixed results but fundamentals not affected
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Nicolas Bouthors
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3 pages
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H1 21: mixed results but fundamentals not affected
- Published:
30 Jul 2021 -
Author:
Nicolas Bouthors -
Pages:
3 -
In line with peers, EDP faced a mixed H1 penalised by lower generation from renewables and lower margins due to increasing wholesale energy prices, but positively impacted by the recovery in the industrial sector. This did not prevent the group from confirming its FY21 guidance.
We like the strong development in renewables capacity, one of the fastest in the sector, even if it mechanically weighed on net indebtedness.
Positive recommendation confirmed.