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EDP ​​Renewables increase their income by 22%

The Portuguese multinational states in its first quarterly report, an increase of 22% of their income "to reach 346 million euros", and net income has also grown, "a 26% to 62 million euros" .

 
PRLog - May 9, 2012 - RIO DE JANEIRO, Brazil -- EDP ​​Renewables has announced that in the first quarter of 2012 its production of electricity increased by 18% in annual calculation, to 5.2 TWh, "as a result of capacity expansion over the last twelve months ( 619 MW) and the increase in the average load factor to 34%, one of the highest in the industry. " According EDPR, revenue for the first quarter of 2012 increased 22% to 346 million euros, "at a rate faster than the volume growth, thanks to the sustained increase in average selling price during the period."

EBITDA (earnings Before interest, taxes, depreciation and amortization) increased "20% year on year to 263 million euros, an EBITDA margin of 76%", while EBIT rose 47% year "due to the strong operational growth and expansion of the life of the operating assets of EDPR to 25 years (as determined in the second quarter of 2011) ". EDPR has declared a net profit "increased by 26% year to 62 million euros." According to the Portuguese multinational, compared with the first quarter of 2011, "extending the life of the projects had a positive impact on results, partially offset by deferred tax accounting in the United States."

The firm also Lusa said growth in operating cash flow 17% year on year to 202 million euros in the first quarter of 2012, "much higher than the 55 million euros for investments in equipment" . This growth-points in its balance sheet, represents 77% of EBITDA in the first quarter of 2012, "which shows he concludes the company's ability to transform financial performance in generating cash." Moreover, in 2012, the company plans to increase its capacity to "500 MW in high quality projects with sales prices are above average and excellent load factors, to close the year with a total installed capacity of 8 GW" .
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Source:The energy News
Location:Rio de Janeiro - Rio de Janeiro - Brazil
Industry:Green energy
Tags:clean energy, green energy
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