EDPR has posted a 26% fall in net profit to €255m in the first half of 2020, compared with €343m reported in the same period in 2019.
The result was “mainly driven” by lower earnings before interest, tax, depreciation and amortisation (EBITDA) of €793m, which fell 18% compared with €965m record in the first half of 2019.
EBIT was €501m in the first half of 2020, compared with €671m in the same period in 2019.
During the first half of 2020, EDPR’s operating portfolio was 11.4GW, spread over 11 countries.
As of June 2020, EDPR had 2.3GW of new capacity under construction, of which 1800MW is onshore wind, 200MW is solar PV and 330MW is equity in offshore wind projects.
In the last 12 months, the company built a total of 986MW, including the 50% participation in a 278MW US solar portfolio.
During the period EDPR completed sell-downs totalling 1.3GW and decommissioned 18MW in Spain for repowering.
As of June 2020 EDPR said its year-on-year consolidated portfolio net variation was negative by 326MW.
In the reporting period EDPR successfully concluded the divestment of its entire ownership in the 137MW Babilonia wind farm in Brazil, as announced in July 2019.
EDPR interim CEP Rui Teixeira said: “These results reflect solid foundations, and the implementation of the strategic plan is running ahead of schedule in terms of both our global capacity targets and divestments.
“Today we are a strong company, one that can cope with the challenges that the market puts in front of us.”