- EDP’s net income for the first half of 2024 increased by 74% compared to the same period last year, reaching EU762 million.
- The company’s Ebitda for the first half of the year was EU2.69 billion, a rise of 9.6% year-over-year.
- Ebit also saw substantial growth, reaching EU1.83 billion, which is an increase of 24% year-over-year.
- In the second quarter alone, EDP’s net income was EU408 million, significantly higher than EU134 million from the previous year and surpassing the estimate of EU383.7 million.
- Second-quarter Ebitda rose by 30% year-over-year to EU1.35 billion.
- Second-quarter Ebit experienced an impressive 90% growth compared to last year, reaching EU920 million.
- EDP’s net debt increased to EU17.4 billion as of June, compared to EU15.3 billion in December.
- The company reported a 50% increase in first-half recurring net income due to asset rotation gains, including transmission assets in Brazil and wind and solar assets in Italy, USA, and Canada.
- EDP expects recurring Ebitda of about EU5 billion and recurring net profit of about EU1.3 billion for 2024, aligning with their targets presented in May.
- Analyst ratings for EDP are positive, with 20 buys, 4 holds, and no sells.
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A look at EDP – Energias de Portugal SA Smart Scores
| Factor | Score | Magnitude |
|---|---|---|
| Value | 3 | |
| Dividend | 4 | |
| Growth | 3 | |
| Resilience | 2 | |
| Momentum | 3 | |
| OVERALL SMART SCORE | 3.0 |
Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma
EDP – Energias de Portugal SA, a company engaged in generating, supplying, and distributing electricity and gas in Portugal and Spain, has received a positive overall outlook based on its Smartkarma Smart Scores. With above-average scores in dividend and momentum, EDP demonstrates strong potential for providing steady dividends to investors and positive market momentum. While scoring relatively lower in resilience, the company’s focus on growth and value indicates a solid long-term strategy.
As EDP continues to expand its presence in electricity distribution and generation across Brazil and wind power operations in various European countries, investors may find the company’s diversification and growth prospects appealing. The Smartkarma Smart Scores reflect a balanced assessment of EDP’s performance across key factors, suggesting a promising outlook for investors seeking a reliable investment opportunity in the energy sector.
Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
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